GameStop Corp.GME

GameStop Corp. Leases Disclosure

10-KFiled Mar 24, 20262 min read
Leases
The following table presents rent expenses under operating leases:
Fiscal
202520242023
Operating lease cost$196.7 $264.1 $284.0 
Variable lease cost (1)
42.9 58.1 57.5 
Total rent expense$239.6 $322.2 $341.5 
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(1)    Variable lease cost includes percentage rentals and variable executory costs.
In fiscal 2025, we recognized $0.9 million of store-level ROU asset impairment charges compared to $0.7 million and $2.7 million of store-level ROU asset impairment charges in fiscal 2024 and 2023, respectively.
The following table presents the weighted-average remaining lease term, which includes reasonably certain renewal options, and the weighted-average discount rate for operating leases included in the measurement of our lease liabilities:
January 31, 2026February 1, 2025
Weighted-average remaining lease term (years) (1)
3.43.7
Weighted-average discount rate (2)
6.3 %6.7 %
(1)    The weighted-average remaining lease term is weighted based on the lease liability balance for each lease as of January 31, 2026 and February 1, 2025.
(2)    The weighted-average discount rate weights the IBR determined for each lease based on each lease's respective liability balance as of January 31, 2026 and February 1, 2025.
The following table presents expected lease payments associated with our operating lease liabilities, excluding percentage rentals, for the next five fiscal years:
Period
Operating Leases(1)
Fiscal 2026$104.8 
Fiscal 202770.0 
Fiscal 202842.2 
Fiscal 202925.1 
Fiscal 203013.7 
Thereafter15.4 
Total remaining lease payments271.2 
Less: Interest(30.1)
Present value of lease liabilities(2)
$241.1 
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(1)    Operating lease payments exclude legally binding lease payments for leases signed but not yet commenced.
(2)    The future lease payments presented in the table above include amounts related to operating leases associated with our French disposal group classified as held for sale. The related lease liabilities totaling approximately $43.5 million have been reclassified to liabilities held for sale on the consolidated balance sheet and are not included in the lease liabilities line item as of January 31, 2026 With this reclassification, the present value of the lease payments reconcile to the total lease liabilities recognized. The present value of lease liabilities consist of $87.5 million classified as current portion of operating lease liabilities and $110.1 million classified as long-term operating lease liabilities on our Consolidated Balance Sheets.

Historical Timeline

Fiscal YearFiled
2026Mar 24, 2026Showing above
2025Mar 25, 2025
2024Mar 26, 2024
2023Mar 28, 2023
2022Mar 17, 2022
2021Mar 23, 2021
2020Mar 27, 2020
2019Apr 2, 2019
2018Apr 2, 2018
2017Mar 27, 2017
2016Mar 28, 2016

About Leases Disclosures

Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.

Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.

Other Available Disclosures

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