Company: CHD
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000950170-25-019801
Chunk: 217

Company: CHURCH & DWIGHT CO INC /DE/
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 217
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31, 2023

        Other information

        Leased assets obtained in exchange for new lease liabilities(2)
         
        $
        28.0

        $
        47.2

        Cash paid for amounts included in the measurement of lease liabilities
         
        $
        35.3

        $
        30.9

      (1)Lease expense is included in cost of sales or SG&A expenses based on the nature of the leased item.  Short-term lease expense is excluded from this amount and is not material.  The Company also has certain variable leases which are not material.  The noncash component of lease expense for the twelve months ended December 31, 2024, 2023 and 2022 was $30.9, $24.3 and $24.0, respectively, is included in the amortization caption in the consolidated statement of cash flows. (2)Leased assets obtained in exchange for new lease liabilities in 2024 consisted of $16.8 of real estate lease additions and $11.2 of equipment lease additions, net of modifications.  These additions included expanded space at one of the Company's leased manufacturing facilities.  This resulted in an increase to the Company’s right of use assets and corresponding lease liabilities of approximately $15.4 recorded in the first quarter of 2024.  Leased assets obtained in exchange for new lease liabilities in 2023 consisted of $40.9 of real estate lease additions and $6.3 of equipment lease additions, net of modifications. These additions included $36.9 for an agreement between the Company and a third-party warehouse provider for warehouse space.                  

73

CHURCH & DWIGHT CO., INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)(In millions, except share and per share data) 

The Company’s minimum annual rentals including reasonably assured renewal options under lease agreements are as follows: 

        Operating

        Leases

        2025
         
        $
        40.9

        2026

        32.6

        2027

        29.5

        2028

        26.0

        2029

        25.6

        2030 and thereafter

        84.7

        Total future minimum lease commitments

        239.3

        Less: Imputed interest