PHOTRONICS INC Leases Disclosure
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Classification
|
October 31,
2025
|
October 31,
2024
|
||||||
|
ROU Assets – Operating Leases
|
||||||||
|
Other assets
|
$
|
$
|
||||||
|
ROU Assets – Finance Leases
|
||||||||
|
Property, plant and equipment, net
|
$
|
$
|
||||||
|
Lease Liabilities – Operating Leases
|
||||||||
|
Accrued liabilities
|
$
|
$
|
||||||
|
Other liabilities
|
||||||||
|
$
|
5,935 |
$
|
4,962 |
|||||
|
Lease Liabilities – Finance Leases
|
||||||||
|
Current portion of long-term debt
|
$
|
$
|
||||||
|
Long-term debt
|
||||||||
|
$
|
24 |
$
|
17,997 |
|||||
|
Fiscal Year
|
Operating
Leases
|
Finance
Leases
|
||||||
|
2026
|
$
|
2,109 |
12 |
|||||
|
2027
|
1,686 |
12 |
||||||
|
2028
|
532 |
1 |
||||||
|
2029
|
216 |
- |
||||||
|
2030 and thereafter
|
2,088 |
- |
||||||
|
Total lease payments
|
$
|
6,631 |
25 |
|||||
|
Imputed interest
|
(696 |
)
|
(1 |
)
|
||||
|
Lease liabilities
|
$
|
5,935 |
24 |
|||||
|
Year Ended
|
||||||||||||
|
October 31,
|
October 31,
|
October 31,
|
||||||||||
|
2025
|
2024
|
2023
|
||||||||||
|
Operating lease costs
|
$
|
2,348 |
$
|
2,255 |
$
|
2,278 |
||||||
|
Short-term lease costs
|
$
|
1,280 |
$
|
1,273 |
$
|
462 |
||||||
|
Variable lease costs
|
$
|
599 |
$
|
595 |
$
|
656 |
||||||
|
Interest on finance lease
|
$
|
2 |
$
|
330 |
$
|
426 |
||||||
|
Amortization of ROU assets
|
$
|
19 |
$
|
2,950 |
$
|
2,870 |
||||||
| October 31, 2025 | October 31, 2024 | |||||||||||||||
| Classification | Weighted- average remaining lease term (in years) | Weighted- average discount rate | Weighted- average remaining lease term (in years) | Weighted- average discount rate | ||||||||||||
| Operating leases | 8.1 | 3.1 | % | 2.8 | 3.2 | % | ||||||||||
| Finance leases | 2.1 | 5.9 | % | 0.2 | 1.5 | % | ||||||||||
|
Year Ended
|
||||||||||||
|
October 31,
|
October 31,
|
October 31,
|
||||||||||
|
2025
|
2024
|
2023
|
||||||||||
|
Operating cash flows used for operating leases
|
$
|
2,341 |
$
|
2,241 |
$
|
2,271 |
||||||
|
Operating cash flows used for finance leases
|
$
|
2 |
$
|
330 |
$
|
429 |
||||||
|
Financing cash flows used for finance leases
|
$
|
11 |
$
|
6,621 |
$
|
6,521 |
||||||
|
ROU assets obtained in exchange for operating lease obligations
|
$
|
2,824 |
$
|
842 |
$
|
5,116 |
||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 17, 2025 | Showing above |
| 2024 | Dec 19, 2024 | |
| 2023 | Dec 26, 2023 | |
| 2022 | Dec 23, 2022 | |
| 2021 | Dec 17, 2021 | |
| 2020 | Jan 15, 2021 | |
| 2017 | Dec 20, 2017 | |
| 2016 | Jan 6, 2017 | |
| 2015 | Jan 7, 2016 | |
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.