MasterBrand, Inc. Leases Disclosure
| (U.S. Dollars presented in millions, except lease term and discount rate) | December 28, 2025 | December 29, 2024 | December 31, 2023 | ||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||||||||
| Operating cash flows from operating leases | $ | 23.8 | $ | 21.0 | $ | 17.3 | |||||||||||
| Right-of-use assets obtained in exchange for operating lease obligations | $ | 144.1 | $ | 16.8 | $ | 23.9 | |||||||||||
| Right-of-use assets obtained upon Supreme acquisition - July 10, 2024 | $ | — | $ | 18.3 | $ | — | |||||||||||
| Weighted average remaining lease term—operating leases | 8.3 years | 5.8 years | 5.4 years | ||||||||||||||
| Weighted average discount rate—operating leases | 5.8 | % | 5.4 | % | 4.5 | % | |||||||||||
| (U.S. Dollars presented in millions) | ||||||||
Fiscal Years Ending: | ||||||||
| 2026 | $ | 33.1 | ||||||
| 2027 | 32.0 | |||||||
| 2028 | 30.4 | |||||||
| 2029 | 27.1 | |||||||
| 2030 | 24.5 | |||||||
| Thereafter | 109.5 | |||||||
| Total lease payments | 256.6 | |||||||
| Less imputed interest | (57.1) | |||||||
| Total | $ | 199.5 | ||||||
Reported as of December 28, 2025 | ||||||||
| Current operating lease liabilities | $ | 24.3 | ||||||
| Operating lease liabilities (non-current) | 175.2 | |||||||
| Total | $ | 199.5 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 13, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 27, 2024 | |
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.