Leases (Tables)

12 Months Ended

Dec. 31, 2025

Lease costs and other information related to leases

We recognized the following total lease cost related to our lease arrangements (in millions):


	Year Ended December 31,
	2025		2024		2023
Finance lease cost:
Amortization of right-of-use assets	$	5.9	$	10.4	$	4.0
Interest on lease liabilities	1.2		2.3		0.7
Operating lease cost	48.0		46.3		44.8
Short-term lease cost	26.4		27.9		27.1
Variable lease cost	8.9		8.3		8.6
Sublease income	(14.4)		(14.9)		(14.5)
Total lease cost	$	76.1	$	80.4	$	70.6

Remaining lease payments

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Remaining lease payments

As of December 31, 2025, our remaining lease payments, excluding operating and finance leases classified as held for sale, were as follows (in millions):


	Operating Leases		Finance Leases
2026	$	36.1	$	3.5
2027	29.2		0.3
2028	26.3		0.3
2029	23.4		0.3
2030	22.0		0.2
Thereafter	64.3		0.4
Total remaining lease payments (undiscounted)	201.3		5.1
Less: imputed interest	40.4		0.6
Present value of lease liabilities	$	160.9	$	4.4

Supplemental balance sheet information related to leases

Supplemental balance sheet information related to leases, excluding operating and finance leases classified as held for sale (in millions):


		December 31,
	Classification	2025		2024
Assets:
Operating lease assets	Other non-current assets	$	156.2	$	172.5
Finance lease assets	Property and equipment, net	$	1.6	$	29.4

Liabilities:
Operating lease liability - current	Accrued expenses and other current liabilities	$	28.2	$	32.1
Operating lease liability - long-term	Other long-term liabilities	$	132.7	$	144.1
Finance lease liability - current	Current maturities of long-term debt	$	3.4	$	7.6
Finance lease liability - long-term	Long-term debt	$	1.0	$	22.4

Lessee Other Lease Information

We recognized the following cash flows related to our lease arrangements (in millions):


	For the Year Ended December 31,
	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities (in millions):
Operating cash flows from finance leases	$	1.3	$	2.3	$	0.7
Operating cash flows from operating leases	$	48.4	$	47.5	$	46.2
Financing cash flows from finance leases	$	5.8	$	10.0	$	4.3
Noncash investing and financing lease activities (in millions):
Right of use assets obtained in exchange for new operating lease liability	$	38.4	$	23.9	$	16.8
Right of use assets obtained in exchange for new finance lease liability	$	4.1	$	24.9	$	3.7

Other information related to leases:


	December 31,
	2025	2024
Weighted average remaining lease term of finance leases (in years)	3.2	4.3
Weighted average remaining lease term of operating leases (in years)	7.8	7.9
Weighted average discount rate of finance leases	5.9%	5.4%
Weighted average discount rate of operating leases	5.6%	5.4%

WORLD KINECT CORP 10-K