Company: JOUT
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001140361-25-017047
Chunk: 11

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-05-02
Form: 10-Q
Item: Item 8
Chunk 11
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' Stock Purchase Plan.  During the six month period ended March 28, 2025, the Company issued 0 shares of Class A common stock and recognized $165 of expense in connection with the Employees' Stock Purchase Plan.  During the three month period ended March 29, 2024, the Company issued 0 shares of Class A common stock and recognized $77 of expense in connection with the Plan.  During the six month period ended March 29, 2024, the Company issued 0 shares of Class A common stock and recognized $108 of expense in connection with the Plan. 

5    LEASES

The Company leases certain facilities and machinery and equipment under long-term, non-cancelable operating leases.  The Company determines if an arrangement is a lease at inception.  As of March 28, 2025, the Company had approximately 150 leases, with remaining terms ranging from less than one year to 14 years.  Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI).  Some leases also contain options to extend or terminate the lease.  To the extent the Company is reasonably certain to exercise these options, they have been considered in the calculation of the right-of-use ("ROU") assets and lease liabilities.  Under current lease agreements, there are no residual value guarantees or restrictive lease covenants.  In calculating the ROU assets and lease liabilities, several assumptions and judgments were made by the Company, including whether a contract is or contains a lease under the applicable definition, and the determination of the discount rate, which is assumed to be the incremental borrowing rate.  The incremental borrowing rate is derived from information available to the Company at the lease commencement date based on lease length and location.  The components of lease expense recognized in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended March 28, 2025 and March 29, 2024 were as follows:

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IndexJOHNSON OUTDOORS INC.

Three months endedSix months endedMarch 28, 2025March 29, 2024March 28, 2025March 29, 2024Lease CostOperating lease costs$2,647 $2,476 $5,271 $4,941 Short-term lease costs561 599 1,128 1,226 Variable lease costs50 43 99 86 Total lease cost