KAISER ALUMINUM CORP
For the period ended Dec 31, 2025. Filed Feb 19, 2026.
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FY2025 · Filed Feb 19, 2026
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Leases
- Leases
The following table summarizes key finance and operating lease terms and discount rates:
| As of December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Weighted-average remaining lease term (in years): | ||
| Finance leases | 37.1 | 36.9 |
| Operating leases | 8.8 | 8.9 |
| Weighted-average discount rate: | ||
| Finance leases | 5.45% | 5.40% |
| Operating leases | 4.92% | 4.69% |
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 | 2025 | 2024 |
| Operating lease assets | Operating lease assets | $22.4 | $27.2 |
| Finance lease assets | Property, plant and equipment, net | $14.1 | $14.8 |
| Current operating lease liabilities | Other accrued liabilities | $4.8 | $6.3 |
| Non-current operating lease liabilities | Long-term portion of operating lease liabilities | $21.7 | $25.2 |
| Total operating lease liabilities | $26.5 | $31.5 | |
| Current finance lease liabilities | Other accrued liabilities | $2.3 | $2.4 |
| Non-current finance lease liabilities | Long-term liabilities | $12.4 | $13.0 |
| Total finance lease liabilities | $14.7 | $15.4 | |
The following table summarizes the components of lease cost in our Statements of Consolidated Income (in millions of dollars):
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating lease cost | $9.0 | $10.2 | $11.6 |
| Short-term lease cost | 6.2 | 4.0 | 4.3 |
| Finance lease cost: | |||
| Amortization of leased assets | 2.4 | 2.4 | 2.4 |
| Interest on lease liabilities | 0.8 | 0.8 | 0.7 |
| Total lease cost | $18.4 | $17.4 | $19.0 |
The following table presents the maturity of our lease liabilities as of December 31, 2025 (in millions of dollars):
| Finance Leases · Operating Leases | ||
|---|---|---|
| 2026 | $3.1 | $6.0 |
| 2027 | 2.0 | 4.7 |
| 2028 | 1.5 | 3.9 |
| 2029 | 0.9 | 3.7 |
| 2030 | 0.6 | 3.5 |
| Thereafter | 25.7 | 12.0 |
| Total minimum lease payments | $33.8 | $33.8 |
| Less: interest | (19.1) | (7.3) |
| Present value | $14.7 | $26.5 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.