Vistance Networks, Inc. Leases Disclosure
7. LEASES
The Company has operating type leases for real estate, equipment and vehicles both in the U.S. and internationally. As of December 31, 2025 and 2024, the Company had no finance type leases. Operating lease expense was $25.6 million, $26.5 million and $32.7 million for the years ended December 31, 2025, 2024 and 2023, respectively. Operating lease expense included period cost for short-term, cancellable and variable leases that were not included in lease liabilities of $4.6 million, $9.4 million and $16.7 million for the years ended December 31, 2025, 2024 and 2023, respectively.
The Company occasionally subleases all or a portion of certain unutilized real estate facilities. As of December 31, 2025, the Company’s sublease arrangements were classified as operating type leases and the income amounts were not material for the years ended December 31, 2025, 2024 and 2023, respectively.
Supplemental cash flow information related to operating leases, which includes both continuing operations and discontinued operations:
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Year Ended December 31, |
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2025 |
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2024 |
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2023 |
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Operating cash paid to settle lease liabilities |
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$ |
51.5 |
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$ |
52.6 |
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$ |
57.7 |
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Right of use asset additions in exchange for lease liabilities |
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23.2 |
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25.9 |
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63.2 |
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Supplemental balance sheet information related to operating leases:
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December, 31 |
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Balance Sheet Location |
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2025 |
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2024 |
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Other noncurrent assets |
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$ |
57.1 |
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$ |
61.3 |
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Accrued and other liabilities |
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$ |
13.9 |
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$ |
14.8 |
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Other noncurrent liabilities |
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55.5 |
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58.5 |
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Total lease liabilities |
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$ |
69.4 |
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$ |
73.3 |
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Weighted average remaining lease term (in years) |
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6.1 |
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Weighted average discount rate |
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8.3 |
% |
Future minimum lease payments under non-cancellable leases as of December 31, 2025 are as follows:
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Operating Leases |
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2026 |
$ |
19.5 |
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2027 |
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14.6 |
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2028 |
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11.5 |
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2029 |
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10.7 |
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2030 |
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9.4 |
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Thereafter |
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21.9 |
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Total minimum lease payments |
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87.6 |
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Less: imputed interest |
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(18.2 |
) |
Total |
$ |
69.4 |
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Feb 23, 2023 | |
| 2021 | Feb 17, 2022 | |
| 2020 | Feb 17, 2021 | |
| 2019 | Feb 20, 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.