KADANT INC
For the period ended Jan 3, 2026. Filed Mar 3, 2026.
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FY2026 · Filed Mar 3, 2026
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Note
- Leases
The Company enters into operating and finance lease commitments primarily for its manufacturing and office space, vehicles, and equipment that expire on various dates through 2041, some of which include assumed options to extend the lease term for up to 10 years. In addition, the Company leases land associated with certain of its buildings in Canada and China under long-term leases expiring in 2032 to 2071. The lease in Canada also includes an assumed option to extend the term for up to 10 years.
| Table of Contents | |
|---|---|
| Kadant Inc. | 2025 Financial Statements |
The components of lease expense are as follows:
| (In thousands) | January 3, 2026 | December 28, 2024 | December 30, 2023 |
|---|---|---|---|
| Operating Lease Cost (a) | $10,333 | $8,153 | $6,355 |
| Short-Term Lease Cost | 833 | 810 | 698 |
| Finance Lease Cost: | |||
| ROU asset amortization | $1,198 | $1,168 | $1,103 |
| Interest on lease liabilities | 96 | 100 | 74 |
| Total Finance Lease Cost | 1,294 | 1,268 | 1,177 |
| Total Lease Costs | $12,460 | $10,231 | $8,230 |
(a) Includes variable lease costs of $904,000 in 2025, $747,000 in 2024, and $961,000 in 2023.
Supplemental cash flow information related to leases is as follows:
| (In thousands) | January 3, 2026 | December 28, 2024 | December 30, 2023 |
|---|---|---|---|
| Cash Paid for Amounts Included in the Measurement of Lease Liabilities: | |||
| Operating cash flows from operating leases | $9,096 | $8,282 | $6,475 |
| Operating cash flows from finance leases | $96 | $100 | $74 |
| Financing cash flows from finance leases | $1,216 | $1,169 | $1,100 |
| ROU Assets Obtained in Exchange for Lease Obligations: | |||
| Operating leases (a) | $13,171 | $17,496 | $8,120 |
| Finance leases | $1,156 | $1,598 | $989 |
(a) Includes ROU assets of $4,425,000 in 2025 and $10,847,000 in 2024 obtained in connection with the Company's acquisitions.
Supplemental balance sheet information related to leases is as follows:
| (In thousands) · Balance Sheet Line Item · January 3, 2026 · December 28, 2024 | ||||
|---|---|---|---|---|
| Operating Leases: | ||||
| ROU assets | Other assets | $43,243 | $36,484 | |
| Total operating lease assets | $43,243 | $36,484 | ||
| Short-term liabilities | Other current liabilities | $8,202 | $6,548 | |
| Long-term liabilities | Other long-term liabilities | 33,072 | 27,768 | |
| Total operating lease liabilities | $41,274 | $34,316 | ||
| Finance Leases: | ||||
| ROU assets, at cost | Property, plant, and equipment, at cost | $4,197 | $4,077 | |
| ROU assets accumulated amortization | Accumulated depreciation and amortization | (2,448) | (2,094) | |
| ROU assets, net | Property, plant, and equipment, net | $1,749 | $1,983 | |
| Short-term obligations | Current maturities of long-term obligations | $983 | $1,075 | |
| Long-term obligations | Long-term obligations | 798 | 948 | |
| Total finance lease liabilities | $1,781 | $2,023 | ||
| Table of Contents | |
|---|---|
| Kadant Inc. | 2025 Financial Statements |
| January 3, 2026 | December 28, 2024 | |
|---|---|---|
| Weighted Average Remaining Lease Term (in years): | ||
| Operating leases | 7.5 | 8.0 |
| Finance leases | 2.0 | 2.1 |
| Weighted Average Discount Rate: | ||
| Operating leases | 4.63% | 4.52% |
| Finance leases | 5.07% | 5.11% |
As of January 3, 2026, future lease payments for lease liabilities are as follows:
| Operating · Finance | ||
|---|---|---|
| (In thousands) | Leases | Leases |
| 2026 | $9,802 | $1,045 |
| 2027 | 8,292 | 595 |
| 2028 | 6,006 | 227 |
| 2029 | 4,685 | 2 |
| 2030 | 4,314 | — |
| 2031 and Thereafter | 16,351 | — |
| Total Future Lease Payments | 49,450 | 1,869 |
| Less: Imputed Interest | (8,176) | (88) |
| Present Value of Lease Payments | $41,274 | $1,781 |
As of January 3, 2026, the Company had no significant operating and finance leases that had not yet commenced.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.