NIQ Global Intelligence plcNIQ

NIQ Global Intelligence plc Leases Disclosure

10-KFiled Feb 27, 20262 min read
9. LEASES
NIQ has operating and finance leases for real estate facilities, servers, computer hardware and other equipment. The Company subleases certain real estate facilities to third parties. The Company’s leases expire at various dates through 2038, some of which include options to extend the term for up to five years, and some of which include options to terminate the leases within one year.
The components of lease cost were as follows:
Year Ended December 31,
(in millions)
202520242023
Lease cost

Finance lease cost:

Amortization of right-of-use assets
$34.9 $23.0 $21.5 
Interest on lease liabilities
5.3 2.9 2.1 
Total finance lease cost
40.2 25.9 23.6 
Operating lease cost
71.9 71.8 59.8 
Short-term lease cost
1.9 1.6 1.8 
Sublease income(1)
(15.9)(14.8)(10.7)
Total lease cost
$98.1 $84.5 $74.5 
(1)Sublease income is presented as a component of other operating income, net in the consolidated statements of operations.
Supplemental balance sheet information related to leases was as follows:
December 31,
(in millions)
20252024
Operating leases

Operating lease right-of-use assets$203.7 $179.6 
Other current liabilities
58.7 52.9 
Operating lease liabilities205.5 196.5 
Total operating lease liabilities$264.2 $249.4 
Finance leases
Property and equipment, gross
$204.9 $133.4 
Accumulated depreciation
(119.2)(73.2)
Property and equipment, net
85.7 60.2 
Short-term debt and current portion of long-term debt
29.5 17.3 
Long-term debt
40.2 21.4 
Total finance lease liabilities
$69.7 $38.7 
The weighted-average remaining lease term and weighted-average discount rate were as follows:
December 31,
20252024
Weighted-average remaining lease term
Operating leases6.4 years7.3 years
Finance leases2.8 years2.9 years
Weighted-average discount rate
Operating leases6.1 %5.8 %
Finance leases7.7 %7.3 %
The following table sets forth supplemental cash flow information related to leases:
Year Ended December 31,
(in millions)
202520242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases
$78.3 $80.4 $74.7 
Operating cash flows from finance leases
5.3 2.9 2.1 
Financing cash flows from finance leases
26.4 22.3 17.8 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases
65.4 36.0 48.3 
Finance leases
54.5 17.5 16.4 
Annual maturities of lease liabilities are as follows:
(in millions)
Operating Leases
Finance Leases
2026$73.6 $33.7 
202757.7 27.9 
202845.4 10.2 
202930.0 2.6 
203024.2 0.4 
Thereafter
85.5 2.8 
Total undiscounted lease payments
$316.4 $77.6 
Less: imputed interest
(52.2)(7.9)
Total lease liabilities
$264.2 $69.7 

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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