KEY TRONIC CORP Leases Disclosure
| Year Ended | Year Ended | |||||||||||||
| Lease cost | Classification | June 28, 2025 | June 29, 2024 | |||||||||||
| Operating lease cost | Cost of sales | $ | 5,135 | $ | 4,814 | |||||||||
| Operating lease cost | Selling, general and administrative expenses | $ | 732 | $ | 734 | |||||||||
| Financing lease cost | Cost of sales | $ | 3,369 | $ | 4,865 | |||||||||
| Financing lease cost | Selling, general and administrative expenses | $ | 171 | $ | 206 | |||||||||
| Total lease cost | $ | 9,407 | $ | 10,619 | ||||||||||
| Fixed lease cost | $ | 6,335 | $ | 6,169 | ||||||||||
| Short-term lease cost | 3,072 | 4,450 | ||||||||||||
| Total lease cost | $ | 9,407 | $ | 10,619 | ||||||||||
| June 28, 2025 | June 29, 2024 | ||||||||||
| Operating Leases: | |||||||||||
| Operating lease right of use assets | $ | 11,347 | $ | 15,416 | |||||||
Operating lease liabilities (1) | $ | 11,347 | $ | 15,416 | |||||||
| Weighted-average remaining lease term (in years) | |||||||||||
| Operating leases | 3.29 | 3.97 | |||||||||
| Weighted-average discount rate | |||||||||||
| Operating leases | 4.07% | 4.00% | |||||||||
| Financing Leases (2): | |||||||||||
| Financing lease right of use assets | $ | 2,244 | $ | 3,569 | |||||||
| Financing lease liabilities | $ | 1,912 | $ | 2,128 | |||||||
| Weighted-average remaining lease term (in years) | |||||||||||
| Financing leases | 2.35 | 1.06 | |||||||||
| Weighted-average discount rate | |||||||||||
| Financing leases | 10.11% | 11.18% | |||||||||
| Fiscal Years Ending | Operating Leases | Finance Leases | ||||||||||||
| 2026 | $ | 4,488 | $ | 983 | ||||||||||
| 2027 | 3,404 | 519 | ||||||||||||
| 2028 | 2,324 | 606 | ||||||||||||
| 2029 | 1,051 | — | ||||||||||||
| 2030 | 470 | — | ||||||||||||
| Thereafter | 352 | — | ||||||||||||
| Total undiscounted lease payments | 12,089 | 2,108 | ||||||||||||
| Less: present value discount | (742) | (196) | ||||||||||||
| Total lease liabilities | $ | 11,347 | $ | 1,912 | ||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 17, 2025 | Showing above |
| 2024 | Oct 15, 2024 | |
| 2023 | Sep 26, 2023 | |
| 2022 | Sep 14, 2022 | |
| 2021 | Sep 16, 2021 | |
| 2020 | Sep 11, 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.