Ranpak Holdings Corp. Leases Disclosure
| Classification | December 31, 2025 | December 31, 2024 | |||||||||||||||
| Lease assets | |||||||||||||||||
| Operating lease right-of-use assets, net | Assets | $ | 24.0 | $ | 20.9 | ||||||||||||
| Finance lease right of use assets, net | 3.2 | 4.1 | |||||||||||||||
| Total lease assets | $ | 27.2 | $ | 25.0 | |||||||||||||
| Lease liabilities | |||||||||||||||||
| Operating lease liabilities, current | Current liabilities | $ | 3.9 | $ | 4.0 | ||||||||||||
| Operating lease liabilities, non-current | Non-current liabilities | 24.2 | 20.8 | ||||||||||||||
| Finance lease liabilities, current | 1.6 | 1.6 | |||||||||||||||
| Finance lease liabilities, non-current | 1.8 | 2.7 | |||||||||||||||
| Total lease liabilities | $ | 31.5 | $ | 29.1 | |||||||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Operating leases | |||||||||||||||||
| Operating lease costs | $ | 6.1 | $ | 6.4 | $ | 5.3 | |||||||||||
| Variable lease costs | 1.4 | 0.9 | 0.3 | ||||||||||||||
| Total operating lease costs | $ | 7.5 | $ | 7.3 | $ | 5.6 | |||||||||||
| Finance leases | |||||||||||||||||
| Amortization of right-of-use asset | $ | 1.8 | $ | 1.7 | $ | 1.0 | |||||||||||
| Total finance lease costs | $ | 1.8 | $ | 1.7 | $ | 1.0 | |||||||||||
Operating | Finance | Total | |||||||||||||||
| 2026 | $ | 6.3 | $ | 1.8 | $ | 8.1 | |||||||||||
| 2027 | 5.4 | 1.1 | 6.5 | ||||||||||||||
| 2028 | 4.7 | 0.4 | 5.1 | ||||||||||||||
| 2029 | 4.0 | 0.2 | 4.2 | ||||||||||||||
| 2030 | 3.8 | 0.2 | 4.0 | ||||||||||||||
| Thereafter | 18.3 | 0.1 | 18.4 | ||||||||||||||
| Total lease payments | 42.5 | 3.8 | 46.3 | ||||||||||||||
| Less lease interest | (14.4) | (0.4) | (14.8) | ||||||||||||||
| Total lease liabilities | $ | 28.1 | $ | 3.4 | $ | 31.5 | |||||||||||
| December 31, 2025 | December 31, 2024 | ||||||||||
| Operating leases | |||||||||||
| Weighted average remaining lease term | 9.0 years | 10.0 years | |||||||||
| Weighted average discount rate | 9.9% | 10.0% | |||||||||
| Finance leases | |||||||||||
| Weighted average remaining lease term | 2.7 years | 2.8 years | |||||||||
| Weighted average discount rate | 8.9% | 9.6% | |||||||||
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities | |||||||||||||||||
| Operating cash flows from operating leases | $ | 6.7 | $ | 6.4 | $ | 5.3 | |||||||||||
| Financing cash flows from finance leases | 2.3 | 1.4 | 1.1 | ||||||||||||||
| Total cash paid | $ | 9.0 | $ | 7.8 | $ | 6.4 | |||||||||||
| Leased assets obtained in exchange for new operating lease liabilities | $ | 5.1 | $ | 0.5 | $ | 24.9 | |||||||||||
| Leased assets obtained in exchange for new finance lease liabilities | 1.2 | 3.6 | 1.0 | ||||||||||||||
| Right-of-use assets obtained in exchange for lease liabilities | $ | 6.3 | $ | 4.1 | $ | 25.9 | |||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 5, 2026 | Showing above |
| 2023 | Mar 14, 2024 | |
| 2022 | Mar 31, 2023 | |
| 2021 | Feb 28, 2022 | |
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.