KAISER ALUMINUM CORP
For the period ended Dec 31, 2024. Filed Feb 20, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 20, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Leases
- Leases
The following table summarizes key finance and operating lease terms and discount rates:
| As of December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Weighted-average remaining lease term (in years): | ||
| Finance leases | 36.9 | 38.8 |
| Operating leases | 8.9 | 8.9 |
| Weighted-average discount rate: | ||
| Finance leases | 5.40% | 5.31% |
| Operating leases | 4.69% | 4.35% |
The following table summarizes the classification of lease assets and lease liabilities on our Consolidated Balance Sheets (in millions of dollars):
| As of December 31, | |||
|---|---|---|---|
| Description | Classification | 2024 | 2023 |
| Operating lease assets | Operating lease assets | $27.2 | $32.6 |
| Finance lease assets | Property, plant and equipment, net | $14.8 | $14.3 |
| Current operating lease liabilities | Other accrued liabilities | $6.3 | $8.0 |
| Non-current operating lease liabilities | Long-term portion of operating lease liabilities | $25.2 | $29.2 |
| Total operating lease liabilities | $31.5 | $37.2 | |
| Current finance lease liabilities | Other accrued liabilities | $2.4 | $2.1 |
| Non-current finance lease liabilities | Long-term liabilities | $13.0 | $12.9 |
| Total finance lease liabilities | $15.4 | $15.0 | |
The following table summarizes the components of lease cost in our Statements of Consolidated Income (Loss) (in millions of dollars):
| Year Ended December 31, | |||
|---|---|---|---|
| 2024 | 2023 | 2022 | |
| Operating lease cost | $10.2 | $11.6 | $12.1 |
| Short-term lease cost | 4.0 | 4.3 | 4.3 |
| Finance lease cost: | |||
| Amortization of leased assets | 2.4 | 2.4 | 2.5 |
| Interest on lease liabilities | 0.8 | 0.7 | 0.3 |
| Total lease cost | $17.4 | $19.0 | $19.2 |
The following table presents the maturity of our lease liabilities as of December 31, 2024 (in millions of dollars):
| Finance Leases · Operating Leases | ||
|---|---|---|
| 2025 | $3.1 | $7.6 |
| 2026 | 2.5 | 5.1 |
| 2027 | 1.5 | 4.2 |
| 2028 | 1.0 | 3.8 |
| 2029 | 0.7 | 3.7 |
| Thereafter | 26.3 | 15.6 |
| Total minimum lease payments | $35.1 | $40.0 |
| Less: interest | (19.7) | (8.5) |
| Present value | $15.4 | $31.5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.