Rocket Lab Corp Leases Disclosure
| December 31, | ||||||||||||||||||||
| Liabilities | Presentation | 2025 | 2024 | |||||||||||||||||
| Current: | ||||||||||||||||||||
| Other current liabilities | $ | 10,816 | $ | 6,170 | ||||||||||||||||
| Other current liabilities | 317 | 268 | ||||||||||||||||||
| Total lease liabilities, current | 11,133 | 6,438 | ||||||||||||||||||
| Non-current: | ||||||||||||||||||||
| Operating lease liabilities | Non-current operating lease liabilities | 85,191 | 51,965 | |||||||||||||||||
| Finance lease liabilities | Non-current finance lease liabilities | 14,653 | 14,970 | |||||||||||||||||
| Total lease liabilities, non-current | 99,844 | 66,935 | ||||||||||||||||||
| Total lease liabilities | $ | 110,977 | $ | 73,373 | ||||||||||||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Operating lease costs: | |||||||||||||||||
| Operating lease costs | $ | 14,158 | $ | 9,762 | $ | 7,164 | |||||||||||
| Amortization of favorable lease | 610 | 1,220 | 610 | ||||||||||||||
| Total operating lease costs: | $ | 14,768 | $ | 10,982 | $ | 7,774 | |||||||||||
| Finance lease costs: | |||||||||||||||||
| Depreciation of right-of-use assets | $ | 501 | $ | 591 | $ | 627 | |||||||||||
| Interest on lease liabilities | 933 | 949 | 967 | ||||||||||||||
| Total finance lease costs | $ | 1,434 | $ | 1,540 | $ | 1,594 | |||||||||||
| Years Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | |||||||||||||||||
| Operating cash flows from operating leases | $ | 12,411 | $ | 8,672 | $ | 6,581 | |||||||||||
| Operating cash flows from finance leases | 933 | 949 | 967 | ||||||||||||||
| Finance cash flows from finance leases | 268 | 329 | 336 | ||||||||||||||
| Right-of-use assets obtained in exchange for lease obligations: | |||||||||||||||||
| Operating leases | $ | 39,286 | $ | 2,871 | $ | 30,396 | |||||||||||
| Operating Leases | Finance Leases | ||||||||||
| 2026 | $ | 16,712 | $ | 1,231 | |||||||
| 2027 | 16,811 | 1,262 | |||||||||
| 2028 | 15,834 | 1,293 | |||||||||
| 2029 | 15,206 | 1,326 | |||||||||
| 2030 | 11,881 | 1,359 | |||||||||
| Thereafter | 49,965 | 18,139 | |||||||||
| Total lease payments | 126,409 | 24,610 | |||||||||
| Less imputed interest | (30,402) | (9,640) | |||||||||
| Total | $ | 96,007 | $ | 14,970 | |||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 27, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Mar 7, 2023 | |
| 2021 | Mar 24, 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.