Westrock Coffee Co
For the period ended Mar 31, 2026. Filed May 7, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 7, 2026
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9. Leases
Note 9. Leases
We have operating leases for manufacturing, production, administrative, distribution and warehousing facilities, vehicles and machinery and equipment. Some of our lease agreements have renewal options, tenant improvement allowances, rent holidays and rent escalation clauses. The remaining terms on our leases range from 1 year to 15 years, some of whichmay include options to extend the leases and some of whichmay include options to terminate the leases within 1 year.
The following table summarizes the amount of right-of-use lease assets and lease liabilities included in each respective line item on the Company’s Condensed Consolidated Balance Sheets:
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| (Thousands) · · Balance Sheet Location · · March 31, 2026 · · December 31, 2025 | ||||||||
| Right-of-use operating lease assets | | Operating lease right-of-use assets | | $62,675 | | $60,310 | ||
| Operating lease liabilities - current | | Accrued expenses and other current liabilities | | | 5,194 | | | 4,908 |
| Operating lease liabilities - noncurrent | | Operating lease liabilities | | | 60,537 | | | 58,146 |
During the three months ended March 31, 2026 and 2025, the Company obtained approximately $3.9 million and $0.7 million, respectively, of right-of-use operating lease assets in exchange for lease obligations.
Depending on the nature of the lease, lease costs are classified within costs of sales or selling, general and administrative expense on the Company’s Condensed Consolidated Statements of Operations. The components of lease costs for the three months ended March 31, 2026 and 2025, respectively, are as follows:
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||||
| (Thousands) · · 2026 · · 2025 | ||||||
| Operating lease cost | | $2,662 | | $2,476 | ||
| Short-term lease cost | | | 362 | | | 206 |
| Total | | $3,024 | | $2,682 | ||
The following table presents information about the Company’s weighted average discount rate and remaining lease term as of March 31, 2026 and December 31, 2025:
| | | | | | | |
|---|---|---|---|---|---|---|
| · · March 31, 2026 · · December 31, 2025 | ||||||
| Weighted-average discount rate | | | 7.7% | | | 7.8% |
| Weighted-average remaining lease term | | | 11.1 years | | | 11.4 years |
Supplemental cash flow information about the Company’s leases as of March 31, 2026 and 2025, respectively, is as follows:
| · · · · · · | ||||
|---|---|---|---|---|
| · · Three Months Ended March 31, | ||||
| (Thousands) | | 2026 | | 2025 |
| Cash paid related to operating lease liabilities | | $2,476 | | $2,283 |
Finance lease assets are recorded in property, plant and equipment, net with the corresponding lease liabilities included in accrued expenses and other current liabilities and long-term debt, net on the Condensed Consolidated Balance Sheets. There wereno material finance leases as of March 31, 2026.
Future minimum lease payments under non-cancellable operating leases as of March 31, 2026 are as follows:
| | | | |
|---|---|---|---|
| (Thousands) | | | |
| 2026 | | $7,141 | |
| 2027 | | | 9,677 |
| 2028 | | | 8,962 |
| 2029 | | | 8,908 |
| 2030 | | | 7,052 |
| Thereafter | | | 58,644 |
| Total future minimum lease payments | | | 100,384 |
| Less: imputed interest | | | (34,653) |
| Present value of minimum lease payments | | $65,731 |
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