MAXLINEAR, INCMXL

MAXLINEAR, INC Leases Disclosure

10-KFiled Jan 29, 20262 min read
Leases
Operating Leases
Operating lease arrangements primarily consist of office leases expiring in various years through 2030. These leases have original terms of approximately 2 to 8 years and some contain options to extend the lease up to 5 years or terminate the lease, which are included in right-of-use assets and lease liabilities when the Company is reasonably certain it will renew the underlying leases. Since the implicit rate of such leases is unknown and the Company is not reasonably certain to renew its leases, the Company has elected to apply a collateralized incremental borrowing rate to facility leases on the original lease term in calculating the present value of future lease payments. As of December 31, 2025 and December 31, 2024, the weighted average discount rate for operating leases was 4.6% and 5.0%, respectively, and the weighted average remaining lease term for operating leases was 2.7 years and 3.2 years, respectively, as of the end of each of these periods.
The table below presents aggregate future minimum payments due under leases, reconciled to total lease liabilities included in the consolidated balance sheet as of December 31, 2025:
Operating Leases
(in thousands)
2026$9,944 
20277,406 
20283,262 
20292,042 
2030372 
Thereafter— 
Total minimum payments23,026 
Less: imputed interest(1,617)
Total lease liabilities21,409 
Less: short-term lease liabilities(9,096)
Long-term lease liabilities$12,313 
Operating lease cost was $9.0 million, $9.9 million, and $10.8 million for the years ended December 31, 2025, 2024, and 2023, respectively.
Short-term lease costs for each of the years ended December 31, 2025, 2024, and 2023, respectively, were not material. There were $4.7 million, $1.2 million, and $12.3 million of right-of-use assets obtained in exchange for new lease liabilities for the years ended December 31, 2025, 2024, and 2023, respectively.

Historical Timeline

Fiscal YearFiled
2025Jan 29, 2026Showing above
2024Jan 29, 2025
2023Jan 31, 2024
2022Feb 1, 2023
2021Feb 2, 2022
2020Feb 11, 2021
2019Feb 5, 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.

Other Available Disclosures

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