Vishay Precision Group, Inc. Leases Disclosure
Note 12 – Leases
The Company primarily leases office and manufacturing facilities in addition to vehicles, which have remaining terms of less than year to years, ten months, thirteen days.
Leases recorded on the balance sheet consist of the following (in thousands):
| Leases | December 31, 2025 | December 31, 2024 | ||||||
| Assets | ||||||||
| Operating lease right of use asset | $ | 22,892 | $ | 24,316 | ||||
| Liabilities | ||||||||
| Operating lease - current | $ | 4,347 | $ | 3,998 | ||||
| Operating lease - non-current | $ | 19,547 | $ | 19,928 | ||||
Note 12 – Leases ( continued)
Other information related to lease term and discount rate is as follows:
| December 31, 2025 | ||||
| Operating leases weighted average remaining lease term (in years) | 6.2 | |||
| Operating leases weighted average discount rate | 4.95 | % | ||
The components of lease expense are as follows (in thousands):
| Year Ended | ||||||||||||
| December 31, 2025 | December 31, 2024 | December 31, 2023 | ||||||||||
| Operating lease cost | $ | 5,478 | $ | 5,349 | $ | 5,171 | ||||||
| Short-term lease cost | 195 | 45 | 150 | |||||||||
| Sublease income | (531 | ) | (445 | ) | (385 | ) | ||||||
| Total net lease cost | $ | 5,142 | $ | 4,949 | $ | 4,936 | ||||||
Right of use assets obtained in exchange for new operating lease liability during 2025 were $2.5 million and in 2024 were $2.0 million. The Company paid $5.5 million for its operating leases for the year ended December 31, 2025 and $5.2 million for the year ended December 31, 2024, which are included in operating cash flows on the consolidated statements of cash flows.
Undiscounted maturities of operating lease payments as of December 31, 2025 are summarized as follows (in thousands):
| 2026 | $ | 5,185 | ||
| 2027 | 4,693 | |||
| 2028 | 4,313 | |||
| 2029 | 3,858 | |||
| 2030 | 3,431 | |||
| Thereafter | 6,124 | |||
| Total future minimum lease payments | $ | 27,604 | ||
| Less: amount representing interest | (3,710 | ) | ||
| Present value of future minimum lease payments | $ | 23,894 |
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 27, 2026 | Showing above |
| 2024 | Feb 25, 2025 | |
| 2023 | Feb 29, 2024 | |
| 2022 | Mar 1, 2023 | |
| 2021 | Mar 4, 2022 | |
| 2020 | Mar 11, 2021 | |
| 2019 | Mar 11, 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.