STANDEX INTERNATIONAL CORP/DE/ Leases Disclosure
20. LEASES
In the normal course of its business, the Company enters into various leases as the lessee, primarily related to certain transportation vehicles, facilities, office space, and machinery and equipment. These leases have remaining lease terms between and years, some of which may include options to extend the leases or options to terminate the leases. Some lease arrangements require variable payments that are dependent on usage, output, or index-based adjustments.
Amounts recorded in the Company's Consolidated Balance Sheet and Statement of Operations related to leases are as follows (in thousands):
| June 30, 2025 | June 30, 2024 | |||||||
| Assets | ||||||||
| Operating lease right-of-use-asset | $ | 47,998 | $ | 37,078 | ||||
| Liabilities | ||||||||
| Current accrued liabilities | $ | 11,129 | $ | 8,289 | ||||
| Operating lease long-term liabilities | 40,057 | 30,725 | ||||||
| Total lease liability | $ | 51,186 | $ | 39,014 | ||||
Lease cost
The components of lease costs are as follows (in thousands):
| Year Ended | Year Ended | |||||||
| June 30, 2025 | June 30, 2024 | |||||||
| Operating lease cost | $ | 13,745 | $ | 11,477 | ||||
| Variable lease cost | 1,274 | 1,270 | ||||||
| Net lease cost | $ | 15,019 | $ | 12,747 | ||||
Maturity of lease liability
The maturity of the Company's lease liabilities included in continuing operations at June 30, 2025 were as follows (in thousands):
| Operating Leases | ||||
| 2026 | $ | 13,097 | ||
| 2027 | 11,251 | |||
| 2028 | 8,850 | |||
| 2029 | 6,777 | |||
| 2030 | 4,624 | |||
| After 2030 | 16,060 | |||
| Less: interest | (9,473 | ) | ||
| Present value of lease liabilities | $ | 51,186 | ||
The weighted average remaining lease term and discount rates are as follows:
| Lease Term and Discount Rate | June 30, 2025 | |||
| Weighted average remaining lease term (years) | 8.18 | |||
| Weighted average discount rate (percentage) | 4.31 | % | ||
Other Information
Supplemental cash flow information related to leases is as follows:
| Year Ended | Year Ended | |||||||
| June 30, 2025 | June 30, 2024 | |||||||
| Operating cash outflows from operating leases | $ | 12,615 | $ | 11,204 | ||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 4, 2025 | Showing above |
| 2024 | Aug 2, 2024 | |
| 2023 | Aug 4, 2023 | |
| 2022 | Aug 5, 2022 | |
| 2021 | Aug 13, 2021 | |
| 2020 | Aug 25, 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.