HAWKINS INCHWKN

HAWKINS INC Leases Disclosure

10-KFiled May 13, 20262 min read
Leases
Lease Obligations. As of March 29, 2026, we were obligated under operating lease agreements for certain manufacturing facilities, warehouse space, the land on which some of our facilities sit, vehicles and information technology equipment. Our leases have remaining lease terms of 1 year to 19 years, some of which include options to extend the lease for up to 10 years.

As of March 29, 2026 and March 30, 2025, our operating lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheet within right-of-use assets, short-term lease liabilities and long-term lease liabilities.

Cash paid for leases was $3.8 million for the twelve months ended March 29, 2026 .

Total lease expense was $5.2 million for the twelve months ended March 29, 2026, $4.6 million for the twelve months ended March 30, 2025, and $4.0 million for the twelve months ended March 31, 2024, and includes leases less than 12 months in duration.

Operating lease right-of-use assets of $6.9 million were recognized during the twelve months ended March 29, 2026, in exchange for lease liabilities. These non‑cash transactions are excluded from the statements of cash flows.
Other information related to our operating leases was as follows:
March 29, 2026
March 30, 2025
Lease Term and Discount Rate
Weighted average remaining lease term (years)7.436.17
Weighted average discount rate5.5 %4.5 %

Maturities of lease liabilities as of March 29, 2026 were as follows:
(In thousands)Operating Leases
Fiscal 2027$3,861 
Fiscal 20283,607 
Fiscal 20293,129 
Fiscal 20301,965 
Fiscal 20311,503 
Thereafter7,343 
Total$21,408 
Less: Interest(3,951)
Present value of lease liabilities$17,457 
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Historical Timeline

Fiscal YearFiled
2026May 13, 2026Showing above
2025May 14, 2025
2024May 15, 2024
2023May 17, 2023
2022May 18, 2022
2021Jun 2, 2021
2020May 20, 2020

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.

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