VIRTUS INVESTMENT PARTNERS, INC.VRTS

VIRTUS INVESTMENT PARTNERS, INC. Leases Disclosure

10-KFiled Feb 27, 20261 min read
Leases
All of the Company's leases qualify as operating leases and consist primarily of leases for office facilities, which have remaining initial lease terms ranging from 0.7 to 12.6 years and a weighted average remaining lease term of 10.5 years. The Company has options to renew certain of its leases for periods ranging from 5.0 to 10.0 years, depending on the lease. None of the Company's renewal options were considered reasonably assured of being exercised and, therefore, were excluded from the initial lease term used to determine the Company's right-of-use asset and lease liability. The Company's right-of-use asset and lease liability on the Consolidated Balance Sheets at December 31, 2025 were $75.2 million and $93.2 million, respectively. The weighted average discount rate used to measure the Company's lease liability was 7.0% at December 31, 2025.

Lease expense totaled $17.3 million, $15.1 million and $14.7 million for fiscal years 2025, 2024 and 2023,
respectively. Cash payments relating to operating leases during 2025 were $12.7 million.

Lease liability maturities as of December 31, 2025 were as follows:
Fiscal Year
Amount
(in thousands)
2026$12,827 
202713,156 
202810,986 
202912,894 
203012,717 
Thereafter73,990 
Total lease payments136,570 
Less: Imputed interest43,345 
Present value of lease liabilities$93,225 

Historical Timeline

Fiscal YearFiled
2025Feb 27, 2026Showing above
2024Feb 28, 2025
2023Feb 28, 2024
2022Feb 27, 2023
2021Feb 25, 2022
2020Feb 26, 2021
2019Feb 27, 2020
2017Feb 27, 2018
2015Feb 24, 2016

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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