TD SYNNEX CORPSNX

TD SYNNEX CORP Leases Disclosure

10-KFiled Jan 27, 20262 min read
LEASES:
The Company leases certain of its facilities and equipment under noncancellable operating lease agreements, which expire in various periods through 2039. The Company’s finance leases are not material.
The following table presents the various components of lease costs:
Fiscal Years Ended November 30,
202520242023
(currency in thousands)
Operating lease cost$116,025 $108,898 $109,789 
Short-term and variable lease cost23,760 28,672 26,022 
Sublease income(1,354)(606)(950)
Total operating lease cost$138,431 $136,964 $134,861 
The following table presents a maturity analysis of expected undiscounted cash flows for operating leases on an annual basis for the next five years and thereafter as of November 30, 2025:
Fiscal Years Ending November 30,
(currency in thousands)
2026$111,443 
202793,598 
202877,732 
202963,196 
203049,133 
Thereafter173,112 
Total payments$568,214 
Less: imputed interest(1)
(96,683)
Total present value of lease payments$471,531 
__________________
(1) Imputed interest represents the difference between undiscounted cash flows and discounted cash flows.
The following amounts were recorded in the Company's Consolidated Balance Sheet as of November 30, 2025 and 2024:
Operating leasesBalance sheet locationNovember 30, 2025November 30, 2024
(currency in thousands)
Operating lease ROU assetsOther assets, net$441,344 $471,889 
Current operating lease liabilitiesOther accrued liabilities109,251 103,789 
Non-current operating lease liabilitiesOther long-term liabilities362,280 390,708 
The following table presents supplemental cash flow information related to the Company's operating leases for fiscal years 2025, 2024 and 2023. Cash payments related to variable lease costs and short-term leases are not included in the measurement of operating lease liabilities, and, as such, are excluded from the amounts below:
Fiscal Years Ended November 30,
Cash flow information202520242023
(currency in thousands)
Cash paid for amounts included in the measurement of lease liabilities$111,425 $103,803 $108,880 
Non-cash ROU assets obtained in exchange for lease liabilities47,378 111,123 128,953 
The weighted-average remaining lease term and discount rate as of November 30, 2025 and 2024 were as follows:
Operating lease term and discount rate20252024
Weighted-average remaining lease term (years)7.147.69
Weighted-average discount rate5.09 %4.86 %

Historical Timeline

Fiscal YearFiled
2025Jan 27, 2026Showing above
2024Jan 24, 2025
2023Jan 26, 2024
2022Jan 24, 2023
2021Jan 28, 2022
2020Jan 28, 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.

Other Available Disclosures

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