StoneX Group Inc.SNEX

StoneX Group Inc. Leases Disclosure

10-KFiled Nov 28, 20253 min read
Leases
The Company leases office space under non-cancelable operating leases with third parties as of September 30, 2025. Leases with an initial term of twelve months or less are not recorded on the Consolidated Balance Sheets and the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Certain office space leases include one or more options to renew, with renewal terms that can extend the lease term from three to ten years, and some of which include the Company’s option to terminate the leases within two years of the balance sheet date. In determining the term of certain office space leases, the Company has not considered any renewal options in the lease terms of its office space leases as the Company does not believe it is reasonably certain that any of the rights will be exercised. Further, the Company has not included periods after termination date, if the Company holds a termination option and believes it is reasonably certain to exercise.
As the office space leases do not provide an implicit rate, the Company applies a collateralized incremental borrowing rate based on information available at lease commencement date in determining the present value of lease payments. For office space leases executed by subsidiaries, including foreign subsidiaries, the Company has applied its incremental borrowing rate. The Company believes this is a reasonable approach as its subsidiaries either do not have their own treasury functions or the credit facilities available to its subsidiaries do not permit financing of right-of-use assets. Additionally, in certain instances, the parent company provides a guaranty of the lease payments to the lessor under office space leases executed by its subsidiaries. The Company believes that pricing subsidiary leases is more significantly influenced by the credit standing of the parent company than that of its subsidiaries.
Certain office space leases contain variable lease payments related to fair market rent adjustments and local inflation index measures. The Company estimates variable lease payments based upon information available at lease commencement date in determining the present value of lease payments.
The Company has elected to not separate lease components from nonlease components for all office space leases. The Company does not have any financing leases as of September 30, 2025. Operating lease expense is recognized on a straight-line basis over the lease term and is reported within Occupancy and equipment rental on the Consolidated Income Statements.
As of September 30, 2025 and 2024, the Company recorded operating lease right-of-use assets of $161.9 million and $157.0 million, respectively, and operating lease liabilities of $211.7 million and $195.9 million, respectively.
The following table presents operating lease costs and other related information as of and for the fiscal year ended September 30, 2025 and 2024 (in millions, except as stated):
Fiscal Year Ended September 30,
20252024
Operating lease costs (1)(2)
$47.2 $42.9 
Supplemental cash flow information and non-cash activity:
Cash paid for amounts included in the measurement of operating lease liabilities$30.4 $25.8 
Right-of-use assets obtained in exchange for operating lease liabilities$26.9 $56.4 
Lease term and discount rate information:
Weighted average remaining lease term (years)8.08.6
Weighted average discount rate5.2 %5.0 %
(1) Includes short-term leases and variable lease costs, which are immaterial.
(2) Elements of operating lease costs are included as components of Cost of sales of physical commodities and Occupancy and equipment rental in the Consolidated Income Statements.
The maturities of the lease liabilities are as follows as of September 30, 2025 (in millions):
2026$34.5 
202735.7 
202836.1 
202930.4 
203026.3 
After 203095.8 
Total lease payments
258.8 
Less: interest47.1 
Present value of lease liabilities$211.7 

Historical Timeline

Fiscal YearFiled
2025Nov 28, 2025Showing above
2024Nov 29, 2024
2023Nov 24, 2023
2022Nov 29, 2022
2021Nov 29, 2021
2020Dec 14, 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.

Other Available Disclosures

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