Leases (Tables)

9 Months Ended

Sep. 30, 2025

Supplemental balance sheet information related to leases is as follows:


	Classification	September 30, 2025		December 31, 2024
Lease assets
Operating lease right-of-use assets, net	Assets	$	24.9	$	20.9
Finance lease right of use assets, net	Property, plant, and equipment, net	3.2		4.1
Total lease assets		$	28.1	$	25.0
Lease liabilities
Operating lease liabilities, current	Current liabilities	$	3.9	$	4.0
Operating lease liabilities, non-current	Non-current liabilities	25.1		20.8
Finance lease liabilities, current	Current portion of long-term debt	1.6		1.6
Finance lease liabilities, non-current	Long-term debt	1.8		2.7
Total lease liabilities		$	32.4	$	29.1

The components of lease costs included in our Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss were as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Operating leases
Operating lease costs	$	1.6	$	1.9	$	4.7	$	4.7
Variable lease costs	0.3		0.2		0.9		0.7
Total operating lease costs	$	1.9	$	2.1	$	5.6	$	5.4
Finance leases
Amortization of right-of-use asset	$	0.4	$	0.3	$	1.3	$	1.1
Total finance lease costs	$	0.4	$	0.3	$	1.3	$	1.1

Maturities of lease liabilities as of September 30, 2025 are as follows:

Additional information related to leases is presented as follows:


	September 30, 2025	December 31, 2024
Operating leases
Weighted average remaining lease term	9.1 years	10.0 years
Weighted average discount rate	9.8%	10.0%
Finance leases
Weighted average remaining lease term	2.6 years	2.8 years
Weighted average discount rate	9.2%	9.6%


	Nine Months Ended September 30,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	5.1	$	5.0
Financing cash flows from finance leases	1.8		0.9
Total cash paid	$	6.9	$	5.9
Right-of-use assets obtained in exchange for lease liabilities
Leased assets obtained in exchange for new operating lease liabilities	$	5.1	$	0.3
Leased assets obtained in exchange for new finance lease liabilities	0.8		3.0
Right-of-use assets obtained in exchange for lease liabilities	$	5.9	$	3.3

Ranpak Holdings Corp. 10-Q