STEWART INFORMATION SERVICES CORPSTC

STEWART INFORMATION SERVICES CORP Leases Disclosure

10-KFiled Feb 27, 20261 min read
Leases. Total operating lease expense was $46.6 million, $46.3 million and $49.6 million in 2025, 2024 and 2023, respectively, which included $3.2 million, $3.4 million and $3.3 million, respectively, of lease expense related to short-term leases and equipment. Total finance lease expense was $0.2 million, $0.3 million and $0.6 million in 2025, 2024 and 2023, respectively.

Total operating lease liabilities are presented on the consolidated balance sheets and there were no material outstanding finance lease obligations at December 31, 2025 and 2024. Lease-related assets as of December 31 are as follows:

20252024
(in $ thousands)
Operating lease assets, net of accumulated amortization106,034 102,210 
Finance lease assets, net of accumulated depreciation— 473 
Total lease assets106,034 102,683 
Other information related to operating leases during the years ended December 31 is as follows:

20252024
Cash paid for amounts included in the measurement of lease liabilities (in $ thousands)45,11448,533
Lease assets obtained in exchange for lease obligations (in $ thousands)45,62025,980
Weighted average remaining lease term (years):4.73.8
Weighted average discount rate5.1 %4.7 %

Future minimum lease payments under operating leases as of December 31, 2025 are as follows:
(in $ thousands)
2026
37,096 
2027
28,353 
2028
21,641 
2029
16,833 
2030
10,672 
Thereafter26,675 
Total future minimum lease payments141,270 
Less: imputed interest(19,117)
Net future minimum lease payments122,153 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Feb 29, 2024
2022Feb 28, 2023
2021Feb 28, 2022
2020Mar 1, 2021
2019Feb 27, 2020
2018Feb 28, 2019
2017Feb 28, 2018
2016Feb 27, 2017
2015Feb 26, 2016

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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