SYNAPTICS IncSYNA

SYNAPTICS Inc Leases Disclosure

10-KFiled Aug 21, 20251 min read
Leases
We have operating leases for our headquarters office and research and development facilities. Certain of these leases have renewal options that are under our discretion. The leases expire at various dates through fiscal 2034, some of which include options to extend the lease for up to seven years. During fiscal 2025 and 2024, we recorded $12.7 million and $11.8 million of operating leases expense, respectively. Our short-term leases are immaterial.
Components of leases were as follows:
20252024
Operating lease right-of-use assets$45.2 $46.8 
Operating lease liabilities$12.3 $11.5 
Operating lease liabilities, long-term35.8 37.9 
Total operating lease liabilities$48.1 $49.4 
Supplemental cash flow information related to leases was as follows:
20252024
Cash paid for operating leases included in operating cash flows$14.5 $11.2 
Supplemental non-cash information related to lease liabilities arising from obtaining right-of-use assets$9.8 $7.4 
As of the end of fiscal 2025, the weighted average remaining lease term was 5.73 years and the weighted average discount rate was 5.24%.
As of the end of fiscal 2025, future minimum lease payments for operating lease liabilities were as follows:
Fiscal YearOperating
Lease
Payments
2026$14.0 
202710.1 
20288.3 
20297.4 
20303.9 
Thereafter11.9 
Total future minimum operating lease payments55.6 
Less: interest(7.5)
Total lease liabilities$48.1 

Historical Timeline

Fiscal YearFiled
2025Aug 21, 2025Showing above
2024Aug 23, 2024
2023Aug 18, 2023
2022Aug 22, 2022
2021Aug 23, 2021
2020Aug 21, 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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