ROCKWELL AUTOMATION, INCROK

ROCKWELL AUTOMATION, INC Leases Disclosure

10-KFiled Nov 12, 20252 min read
Leases
We have operating leases primarily for real estate, vehicles, and equipment. We have finance leases primarily for equipment. Our leases have remaining lease terms from less than one year to approximately 15 years.
The components of lease expense were (in millions):
202520242023
Operating lease expense (1)
$115 $110 $100 
Variable lease expense (2)
21 20 19 
Finance lease expense
Amortization of right-of-use assets6 8 5 
Interest on lease liabilities— — 1 
Total lease expense$142 $138 $125 
(1) Operating lease expense includes short-term lease expense, which was not material.
(2) Variable lease expense includes sublease income, which was not material.
Supplemental balance sheet information related to leases consists of:
20252024
Weighted average remaining lease term
Operating leases6.0 years6.4 years
Finance leases3.5 years3.7 years
Weighted average discount rate
Operating leases3.81 %3.72 %
Finance leases3.73 %2.77 %
Undiscounted maturities of lease liabilities as of September 30, 2025, were (in millions):
Finance LeasesOperating Leases
2026$2 $110 
20272 94 
20282 74 
2029— 53 
2030— 40 
Thereafter— 102 
Total undiscounted lease payments$6 $473 
Less: Imputed interest— (50)
Total lease liabilities$6 $423 
As of September 30, 2025, we have additional operating leases for facilities that have not yet commenced with undiscounted lease obligations of approximately $2 million. These leases will commence in fiscal 2026.
Supplemental cash flow information related to leases consists of (in millions):
202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$117 $110 $102 
Financing cash flows from finance leases6 10 6 
Right-of-use assets obtained in exchange for lease obligations
Operating leases$68 $163 $93 
Financing leases— 9 — 
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Historical Timeline

Fiscal YearFiled
2025Nov 12, 2025Showing above
2024Nov 12, 2024
2023Nov 8, 2023
2022Nov 8, 2022
2021Nov 9, 2021
2020Nov 10, 2020

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.

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