E.W. SCRIPPS CoSSP

E.W. SCRIPPS Co Leases Disclosure

10-KFiled Feb 27, 20262 min read
Leases
We have operating leases for office space, data centers and certain equipment. Our operating leases have lease terms of 1 year to 30 years, some of which may include options to extend the leases for up to 5 years, and some of which may include options to terminate the leases within 1 year. We also have a finance lease for office space that has a remaining lease term of 33 years. Operating lease costs recognized in our Consolidated Statements of Operations totaled $24.1 million, $22.8 million and $24.5 million in 2025, 2024 and 2023, respectively, including short-term lease costs of $6.5 million, $6.4 million and $3.5 million, respectively. Amortization of the right-of-use asset for our finance leases totaled $0.8 million for the years ended December 31, 2025, 2024 and 2023. Interest expense on the finance leases liability totaled $2.2 million for the years ended December 31, 2025 and 2024 and $2.1 million for the year ended December 31, 2023.

Other information related to our leases was as follows:
As of December 31,
(in thousands, except lease term and discount rate)20252024
Balance Sheet Information
Operating Leases
Right-of-use assets$95,975 $90,136 
Other current liabilities18,974 18,087 
Operating lease liabilities 85,885 79,399 
Finance Leases
Property and equipment, at cost28,321 28,321 
Accumulated depreciation(2,454)(1,658)
Property and equipment, net25,867 26,663 
Other liabilities31,462 31,021 
Weighted Average Remaining Lease Term
Operating leases 10.20 years7.37 years
Finance leases32.50 years33.50 years
Weighted Average Discount Rate
Operating leases 5.78 %5.01 %
Finance leases7.10 %7.10 %

For the years ended December 31,
(in thousands)202520242023
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$23,083 $22,014 $24,114 
Operating cash flows from finance leases1,776 1,302 426 
Financing cash flows from finance leases— — — 
Right-of-use assets obtained in exchange for operating lease obligations 30,315 13,486 6,789 
Right-of-use assets obtained in exchange for finance lease obligations— — — 
Future minimum lease payments under non-cancellable leases as of December 31, 2025 were as follows:
(in thousands)Operating
Leases		Finance
Leases
2026$25,315 $1,824 
202721,618 1,875 
202816,291 1,926 
202913,910 1,979 
20307,553 2,034 
Thereafter63,447 86,111 
Total future minimum lease payments148,134 95,749 
Less: Imputed interest(43,275)(64,287)
Total$104,859 $31,462 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Mar 12, 2025
2023Feb 23, 2024
2022Feb 24, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 28, 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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