RideNow Group, Inc. Leases Disclosure
| Leases | Balance Sheet Classification | 2025 | 2024 | |||||||||||||||||
| Assets: | ||||||||||||||||||||
| Operating lease assets | ROU assets | $ | 150.4 | $ | 157.1 | |||||||||||||||
| Finance lease assets | 42.0 | 43.8 | ||||||||||||||||||
| Total | $ | 192.4 | $ | 200.9 | ||||||||||||||||
| Liabilities: | ||||||||||||||||||||
| Current | ||||||||||||||||||||
| Operating | 22.7 | $ | 24.3 | |||||||||||||||||
| Non-Current | ||||||||||||||||||||
| Operating | Long-term portion of operating lease liabilities | 128.0 | 129.8 | |||||||||||||||||
| Finance | 49.6 | 48.8 | ||||||||||||||||||
| Total lease liabilities | $ | 200.3 | $ | 202.9 | ||||||||||||||||
| 2025 | 2024 | ||||||||||
| Weighted average remaining lease term (years): | |||||||||||
| Operating leases | 13.5 | 13.6 | |||||||||
| Finance leases | 37.7 | 38.7 | |||||||||
| Weighted average discount rate: | |||||||||||
| Operating leases | 14.2 | % | 14.3 | % | |||||||
| Finance leases | 9.0 | % | 9.0 | % | |||||||
| Lease Expense | Income Statement Classification | 2025 | 2024 | |||||||||||||||||
Operating(1) | SG&A expenses | $ | 32.2 | $ | 33.3 | |||||||||||||||
| Finance: | ||||||||||||||||||||
| Depreciation on assets | Depreciation and amortization expense | 3.0 | 3.1 | |||||||||||||||||
| Interest on lease liabilities | Interest expense | 4.6 | 4.6 | |||||||||||||||||
| Total lease costs | $ | 39.8 | $ | 41.0 | ||||||||||||||||
| Leases | 2025 | 2024 | ||||||||||||
| Assets: | ||||||||||||||
| ROU assets – related party | $ | 100.6 | $ | 106.3 | ||||||||||
| All other ROU assets | 49.8 | 50.8 | ||||||||||||
| Total | $ | 150.4 | $ | 157.1 | ||||||||||
| Liabilities: | ||||||||||||||
| Current: | ||||||||||||||
Current portion of lease liabilities – related party | $ | 14.4 | $ | 14.6 | ||||||||||
| Current portion of lease liabilities – all other leases | 8.3 | 9.7 | ||||||||||||
| Total current liabilities | 22.7 | 24.3 | ||||||||||||
| Non-Current: | ||||||||||||||
Long-term portion of lease liabilities – related party | 97.8 | 101.5 | ||||||||||||
Long-term portion of lease liabilities – all other leases | 30.2 | 28.3 | ||||||||||||
| Total non-current liabilities | 128.0 | 129.8 | ||||||||||||
| Total operating lease liabilities | $ | 150.7 | $ | 154.1 | ||||||||||
| ($ in millions) | 2025 | 2024 | |||||||||
| Cash payments for operating leases | $ | 30.5 | $ | 30.5 | |||||||
| New assets obtained in exchange for operating lease liabilities | 8.0 | 5.9 | |||||||||
| Cash payments for finance leases | 3.8 | 3.8 | |||||||||
| ($ in millions) | Operating Leases | Finance Lease | ||||||||||||
| 2026 | $ | 28.9 | $ | 3.9 | ||||||||||
| 2027 | 28.0 | 4.0 | ||||||||||||
| 2028 | 23.9 | 4.1 | ||||||||||||
| 2029 | 22.3 | 4.2 | ||||||||||||
| 2030 | 21.8 | 4.2 | ||||||||||||
| Thereafter | 235.8 | 197.4 | ||||||||||||
| Total lease payments | 360.7 | 217.8 | ||||||||||||
| Less imputed interest | (210.0) | (168.2) | ||||||||||||
| Present value of lease liabilities | $ | 150.7 | $ | 49.6 | ||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 13, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
| 2023 | Mar 28, 2024 | |
| 2022 | Mar 16, 2023 | |
| 2021 | Apr 8, 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.