Orion S.A.OEC

Orion S.A. Leases Disclosure

10-KFiled Feb 17, 20262 min read
Leases
Orion has entered into lease contracts as a lessee and is not acting as a lessor. Orion’s lease contracts are for operating assets such as rail cars, company cars, offices and office equipment, etc. Lease costs for the years ended December 31, are as follows:
202520242023
(In millions)
Finance lease costs$11.6 $11.2 $9.3 
Operating lease costs12.011.18.5
Short-term leasing costs6.05.35.5
Total$29.6 $27.6 $23.3 
ROU assets and lease liabilities related to operating and finance leases reflected in the Consolidated Balance Sheets, at December 31, are as follows:
20252024
(In millions)
ROU Assets
Operating leases $42.8 $36.6 
Finance leases83.0 81.3 
Total$125.8 $117.9 
Lease Liabilities(1)
Operating leases
Current$8.2 $9.6 
Long-term35.3 26.5 
43.5 36.1 
Finance leases
Current6.3 5.6 
Long-term82.7 80.0 
89.0 85.6 
Total$132.5 $121.7 
(1) Reflected in Current and Other liabilities in the Consolidated Balance Sheets.
As of December 31, 2025, a total of $13.3 million has been capitalized as Finance lease related to the La Porte facility project. For further information, see Note F. Property, Plant and Equipment above.
The weighted remaining average minimum lease period for finance and operating leases are 15.3 years and 7.7 years, respectively.
Maturities of operating and finance lease liabilities are as follows:
Finance LeasesOperating LeasesTotal
(In millions)
Next 12 months$10.3 $10.0 $20.3 
1 to 2 years11.9 6.5 18.4 
2 to 3 years11.9 5.6 17.5 
3 to 4 years9.7 5.1 14.8 
4 to 5 years7.9 4.3 12.2 
More than 5 years73.2 21.3 94.5 
Total undiscounted minimum lease payments124.9 52.8 177.7 
Imputed interest35.9 9.3 45.2 
Lease liability (current and non-current)$89.0 $43.5 $132.5 
The weighted average discount rate applied to the lease liabilities for finance and operating leases are 4.8% and 5.7%, respectively.
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Historical Timeline

Fiscal YearFiled
2025Feb 17, 2026Showing above
2024Feb 20, 2025
2023Feb 15, 2024
2022Feb 24, 2023
2021Feb 17, 2022
2020Feb 18, 2021
2019Feb 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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