Company: HLI
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001302215-25-000092
Chunk: 27

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 1
Chunk 27
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6$36,965 202757,493 202858,685 202957,884 203056,110 Thereafter311,785 Total578,922 Less: present value discount(138,542)Operating lease liabilities$440,380 As of June 30, 2025, the Company has not entered into any operating leases for additional office space that have not yet commenced.Lease costsThree Months Ended June 30,20252024Operating lease expense$14,123 $15,033 Variable lease expense (1)4,880 4,622 Short-term lease expense78 54 Less: Sublease income(852)(425)Total lease costs$18,229 $19,284 (1)Primarily consists of payments for property taxes, common area maintenance and usage based operating costs. 

19

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

Weighted-average detailsJune 30,20252024Weighted-average remaining lease term (years)1012Weighted-average discount rate5.4 %5.4 %Supplemental cash flow information related to leases:Three Months Ended June 30,20252024Operating cash flows:Cash paid for amounts included in the measurement of Operating lease liabilities$12,953 $17,698 Non-cash activity:Operating lease right-of-use assets obtained in exchange of Operating lease liabilities$4,068 $24,348 Change in Operating lease right-of-use assets due to remeasurement(82)1,416 

Note 17 — Commitments and Contingencies

The Company has been named in various legal actions arising in the normal course of business. In the opinion of the Company, in consultation with legal counsel, the final resolutions of these matters are not expected to have a material adverse effect on the Company’s financial condition, operations and cash flows.The Company also provides routine indemnifications relating to certain real estate (office) lease agreements under which it may be required to indemnify property owners for claims and other liabilities arising from the Company’s use of the applicable premises. In addition, the Company guarantees the performance of its subsidiaries under certain office lease agreements. The terms of these obligations vary, and because a maximum obligation is not explicitly stated, the Company has determined that it is not