VIAVI SOLUTIONS INC. Leases Disclosure
| June 28, 2025 | June 29, 2024 | |||||||||||||
Operating lease costs(1) | $ | 13.0 | $ | 12.9 | ||||||||||
| Cash paid for amounts included in the measurement of operating lease liabilities | $ | 13.0 | $ | 14.1 | ||||||||||
| Operating ROU assets obtained in exchange for operating lease obligations | $ | 8.5 | $ | 7.2 | ||||||||||
| Weighted-average remaining lease term | 6.1 years | 6.3 years | ||||||||||||
| Weighted-average discount rate | 6.0 | % | 5.6 | % | ||||||||||
| Fiscal Years | ||||||||
| 2026 | $ | 10.6 | ||||||
| 2027 | 9.7 | |||||||
| 2028 | 6.9 | |||||||
| 2029 | 4.1 | |||||||
| 2030 | 1.9 | |||||||
| Thereafter | 8.0 | |||||||
| Total lease payments | 41.2 | |||||||
| Less: Interest | (6.9) | |||||||
| Present value of lease liabilities | $ | 34.3 | ||||||
| Balance at Beginning of Period | Liabilities Incurred | Liabilities Settled | Accretion Expense | Revisions to Estimates | Balance at End of Period | ||||||||||||||||||||||||||||||
| Year ended June 28, 2025 | $ | 4.2 | $ | 0.4 | $ | (0.8) | $ | — | $ | 0.1 | $ | 3.9 | |||||||||||||||||||||||
| Year ended June 29, 2024 | $ | 4.3 | $ | — | $ | (0.2) | $ | 0.1 | $ | — | $ | 4.2 | |||||||||||||||||||||||
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Aug 11, 2025 | Showing above |
| 2024 | Aug 16, 2024 | |
| 2023 | Aug 17, 2023 | |
| 2022 | Aug 19, 2022 | |
| 2021 | Aug 23, 2021 | |
| 2020 | Aug 24, 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.