Perimeter Solutions, Inc. Leases Disclosure
2025 | 2024 | ||||||||||
| Assets | |||||||||||
| Operating lease right-of-use assets | $ | 30,152 | $ | 17,298 | |||||||
| Finance lease right-of-use assets | 5,713 | 6,173 | |||||||||
| Total lease assets | $ | 35,865 | $ | 23,471 | |||||||
| Liabilities | |||||||||||
| Operating lease liabilities: | |||||||||||
| $ | 3,663 | $ | 2,677 | ||||||||
| Non-current | 27,860 | 15,540 | |||||||||
| Total operating lease liabilities | 31,523 | 18,217 | |||||||||
| Finance lease liabilities: | |||||||||||
| 753 | 732 | ||||||||||
| Non-current | 5,694 | 6,013 | |||||||||
| Total finance lease liabilities | 6,447 | 6,745 | |||||||||
| Total lease liabilities | $ | 37,970 | $ | 24,962 | |||||||
2025 | 2024 | ||||||||||
Operating lease cost (1) | $ | 5,340 | $ | 3,463 | |||||||
| Finance lease cost: | |||||||||||
| Amortization of right-of-use assets | 1,031 | 1,080 | |||||||||
| Interest on lease liabilities | 490 | 527 | |||||||||
| Total lease cost | $ | 6,861 | $ | 5,070 | |||||||
| Reported in: | |||||||||||
| Cost of goods sold | $ | 6,183 | $ | 4,484 | |||||||
| Selling, general and administrative expense | 678 | 586 | |||||||||
| Total lease cost | $ | 6,861 | $ | 5,070 | |||||||
2025 | 2024 | ||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||
| Operating cash flows for operating leases | $ | 4,867 | $ | 3,278 | |||||||
| Operating cash flows for finance leases | 489 | 501 | |||||||||
| Financing cash flows for finance leases | 875 | 740 | |||||||||
| Right-of-use assets obtained in exchange for new lease obligations: | |||||||||||
| Operating leases | $ | 16,215 | $ | 3,479 | |||||||
| Finance leases | 685 | 884 | |||||||||
| Net change in operating right-of-use assets due to lease modifications resulting in reclassification of leases from operating to finance | $ | (56) | $ | (34) | |||||||
Years Ending December 31, | Operating Leases | Finance Leases | ||||||||||||
| 2026 | $ | 5,745 | $ | 1,209 | ||||||||||
| 2027 | 5,657 | 1,157 | ||||||||||||
| 2028 | 4,917 | 1,828 | ||||||||||||
| 2029 | 4,569 | 952 | ||||||||||||
| 2030 | 4,110 | 552 | ||||||||||||
| Thereafter | 16,875 | 2,741 | ||||||||||||
| Total lease payments | 41,873 | 8,439 | ||||||||||||
| Less: imputed interest | (10,350) | (1,992) | ||||||||||||
| Present value of lease liabilities | $ | 31,523 | $ | 6,447 | ||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 20, 2025 | |
| 2023 | Feb 22, 2024 | |
| 2022 | Mar 1, 2023 | |
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.