Company: HLI
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001302215-25-000007
Chunk: 92

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 8
Chunk 92
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, excluding commissions, for an aggregate purchase price of $24,952.

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(UNAUDITED)(In thousands, except share data or as otherwise stated)

Note 16 — Leases

Lessee ArrangementsOperating LeasesWe lease real estate and equipment used in operations from third parties. As of December 31, 2024, the remaining term of our operating leases ranged from 1 to 15 years with various automatic extensions.The following table outlines the maturity of our existing operating lease liabilities on a fiscal year-end basis as of December 31, 2024.Maturity of Operating LeasesOperating LeasesRemaining 2025$7,326 202653,950 202753,717 202854,513 202955,087 Thereafter352,098 Total576,691 Less: present value discount(143,659)Operating lease liabilities$433,032 As of December 31, 2024, the Company has entered into an operating lease for additional office space that has not yet commenced for approximately $4,400. This operating lease will commence during fiscal year 2026 with a lease term of 5 years.Lease costsThree Months Ended December 31,Nine Months Ended December 31,2024202320242023Operating lease expense$17,709 $15,312 $44,199 $41,120 Variable lease expense (1)5,288 4,070 14,499 14,783 Short-term lease expense79 42 179 150 Less: Sublease income(817)(422)(2,160)(635)Total lease costs$22,259 $19,002 $56,717 $55,418 (1)Primarily consists of payments for property taxes, common area maintenance and usage based operating costs. Weighted-average detailsDecember 31,20242023Weighted-average remaining lease term (years)1112Weighted-average discount rate5.4 %5.2 %

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(UNAUDITED)(In thousands, except share data or as otherwise stated)

Supplemental cash flow information related to leases:Nine Months Ended December