HAWKINS INCHWKN

HAWKINS INC Leases Disclosure

10-KFiled May 14, 20251 min read
Leases
Lease Obligations. As of March 30, 2025, 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 20 years, some of which include options to extend the lease for up to 10 years.

As of March 30, 2025 and March 31, 2024, 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 liability and long-term lease liability.

Total lease expense was $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.

Other information related to our operating leases was as follows:
March 30, 2025
March 31, 2024
Lease Term and Discount Rate
Weighted average remaining lease term (years)6.176.48
Weighted average discount rate4.5 %4.0 %

Maturities of lease liabilities as of March 30, 2025 were as follows:
(In thousands)Operating Leases
Fiscal 2026$3,425 
Fiscal 20272,955 
Fiscal 20282,685 
Fiscal 20292,309 
Fiscal 20301,448 
Thereafter3,053 
Total$15,875 
Less: Interest(2,055)
Present value of lease liabilities$13,820 

Historical Timeline

Fiscal YearFiled
2025May 14, 2025Showing above
2024May 15, 2024
2023May 17, 2023
2022May 18, 2022

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

Income TaxesRevenueGoodwill & IntangiblesSegmentsDebtCommitmentsStock Compensation