STAR GROUP, L.P. Leases Disclosure
16) Leases
The Company has entered into certain operating leases for office space, vehicles and other equipment with lease terms between to twenty two years, expiring between 2025 and 2046. Some of the Company’s real estate property lease agreements have options to extend the leases for up to ten years.
A summary of total lease costs and other information is comprised of the following for the indicated periods:
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|
Years Ended September 30, |
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(in thousands) |
|
2025 |
|
|
2024 |
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|
2023 |
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Lease cost: |
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|
|
|
|
|
|
|
|
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Operating lease cost |
|
$ |
27,840 |
|
|
$ |
25,294 |
|
|
$ |
23,637 |
|
Short-term lease cost |
|
|
622 |
|
|
|
754 |
|
|
|
818 |
|
Variable lease cost |
|
|
5,673 |
|
|
|
6,153 |
|
|
|
5,598 |
|
Total lease cost |
|
$ |
34,135 |
|
|
$ |
32,201 |
|
|
$ |
30,053 |
|
|
|
|
|
|
|
|
|
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|
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Other information: |
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|
|
|
|
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Cash paid for amounts included in the measurement of lease liabilities |
|
|
|
|
|
|
|
|
|
|||
Operating cash flows from operating leases |
|
$ |
28,262 |
|
|
$ |
25,504 |
|
|
$ |
23,622 |
|
Right-of-use assets obtained in exchange for new operating lease liabilities |
|
$ |
23,887 |
|
|
$ |
20,619 |
|
|
$ |
15,994 |
|
Weighted-average remaining lease term – operating leases |
|
5.4 years |
|
|
5.3 years |
|
|
5.6 years |
|
|||
Weighted-average discount rate – operating leases |
|
|
6.6 |
% |
|
|
6.3 |
% |
|
|
5.9 |
% |
Maturities of noncancelable operating lease liabilities as of September 30, 2025 are as follows:
|
|
September 30, |
|
|
(in thousands) |
|
2025 |
|
|
2026 |
|
$ |
25,820 |
|
2027 |
|
|
23,597 |
|
2028 |
|
|
19,789 |
|
2029 |
|
|
16,182 |
|
2030 |
|
|
12,987 |
|
Thereafter |
|
|
17,610 |
|
Total undiscounted lease payments |
|
|
115,985 |
|
Less imputed interest |
|
|
(18,845 |
) |
Total lease liabilities |
|
$ |
97,140 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Dec 9, 2025 | Showing above |
| 2024 | Dec 4, 2024 | |
| 2023 | Dec 6, 2023 | |
| 2022 | Dec 7, 2022 | |
| 2021 | Dec 8, 2021 | |
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.