KULICKE & SOFFA INDUSTRIES INCKLIC

KULICKE & SOFFA INDUSTRIES INC Leases Disclosure

10-KFiled Nov 20, 20252 min read
LEASES
We have entered into various non-cancellable operating and finance lease agreements for certain of our offices, manufacturing, technology, sales support and service centers, equipment, and vehicles. We determine if an arrangement is a lease, or contains a lease, at inception and record the leases in our financial statements upon lease commencement, which is the date when the underlying asset is made available for use by the lessor. Our lease terms may include one or more options to extend the lease terms, for periods from one year to 20 years, when it is reasonably certain that we will exercise that option. As of October 4, 2025, there were no options to extend the lease which was recognized as a right-of-use (“ROU”) asset, or a lease liability. We have lease agreements with lease and non-lease components, and non-lease components are accounted for separately and not included in our leased assets and corresponding liabilities. We have elected not to present short-term leases on the Consolidated Balance Sheets as these leases have a lease term of 12 months or less at lease inception.
Operating leases are included in operating ROU assets, current operating lease liabilities and non-current operating lease liabilities, and finance leases are included in property, plant and equipment, accrued expenses and other current liabilities, and other liabilities on the Consolidated Balance Sheets. As of October 4, 2025 and September 28, 2024, our finance leases were not material.
The following table shows the components of lease expense:
(in thousands)Fiscal
202520242023
Operating lease expense (1)
$9,221 $10,015 $10,746 
(1)Operating lease expense includes short-term lease expense and variable lease expenses, which is immaterial for the fiscal years ended October 4, 2025, September 28, 2024 and September 30, 2023.
The following table shows the cash flows arising from lease transactions. Cash payments related to short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:
(in thousands)Fiscal
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$10,517 $9,612 $9,314 
The following table shows the weighted-average lease terms and discount rates for operating leases:
As of
October 4, 2025September 28, 2024
Operating leases:
Weighted-average remaining lease term (in years):
6.67.3
Weighted-average discount rate:6.9 %7.2 %
Future lease payments, excluding short-term leases, as of October 4, 2025, are detailed as follows:
Operating Leases
Fiscal 2026$8,714 
Fiscal 20277,577 
Fiscal 20286,927 
Fiscal 20296,646 
Fiscal 20305,209 
Thereafter13,522 
Total minimum lease payments48,595 
Less: Interest$10,045 
Present value of lease obligations$38,550 
Less: Current portion$6,178 
Long-term portion of lease obligations$32,372 
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Historical Timeline

Fiscal YearFiled
2025Nov 20, 2025Showing above
2024Nov 14, 2024
2023Nov 16, 2023
2022Nov 17, 2022
2021Nov 18, 2021
2020Nov 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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