INSULET CORPPODD

INSULET CORP Leases Disclosure

10-KFiled Feb 18, 20262 min read
Leases
As of December 31, 2025, the Company leased certain automobiles and facilities for offices, laboratories, manufacturing, and warehousing, all of which were classified as operating leases. Certain of the Company’s operating leases include escalating rental payments, some include the option to extend for up to 10 years, and some include options to terminate the leases at certain times within the lease term. In 2024, the Company exercised its option to purchase land and a manufacturing building in Malaysia for $18.1 million, which were classified as finance leases prior to the purchase.
Operating lease assets and liabilities were included in the following consolidated balance sheet accounts in the amounts shown:
Years Ended December 31,
(in millions)20252024
Operating lease asset:
Other assets$43.7 $36.7 
Operating lease liabilities:
Accrued expenses and other current liabilities$3.0 $2.1 
Other liabilities48.9 40.0 
   Total operating lease liabilities$51.9 $42.1 
The Company’s operating and financing lease cost was as follows:
Years Ended December 31,
(in millions)
202520242023
Operating lease cost$10.6 $7.3 $8.8 
Finance lease cost:
    Amortization of leased assets— 0.7 0.4 
    Interest on lease liabilities— 1.0 0.6 
Total finance lease cost— 1.7 1.0 
    Total operating and financing lease cost$10.6 $9.0 $9.8 
Supplemental cash flow information related to leases is as follows:
Years Ended December 31,
(in millions)202520242023
Right-of-use assets obtained in exchange for lease liabilities
Operating leases
$10.2 $8.0 $5.4 
Finance lease
$— $— $22.3 
Lease payment made for amounts included in the measurement of operating lease liabilities
    Cash paid for operating leases included in operating cash flows $6.2 $5.8 $5.7 
    Cash paid for finance lease included in operating cash flows
$— $1.1 $— 
    Cash paid for finance lease included in financing cash flows
$— $22.7 $— 
Maturities of lease liabilities as of December 31, 2025 are as follows:
Years Ending December 31,
(in millions)
2026$6.6 
20278.0 
20287.9 
20298.1 
203012.4 
Thereafter39.3 
    Total future minimum lease payments82.3 
Less: imputed interest(30.5)
    Present value of future minimum lease payments$51.9 
As of December 31, 2025, the weighted average remaining lease term for operating leases was 10.0 years and the weighted-average discount rate used to determine the operating lease liability was 7.9%.

Historical Timeline

Fiscal YearFiled
2025Feb 18, 2026Showing above
2024Feb 21, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 24, 2022
2020Feb 24, 2021
2019Feb 26, 2020
2018Feb 26, 2019
2017Feb 22, 2018
2016Feb 28, 2017
2015Feb 29, 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.

Other Available Disclosures

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