Company: JOUT
Filing Date: 2025-02-03
Form Type: 10-Q
Source: 0001140361-25-002853
Chunk: 14

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-02-03
Form: 10-Q
Item: Item 8
Chunk 14
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50Weighted average discount rate3.35 %3.19 %Cash paid for amounts included in the measurement of lease liabilities$2,508 $2,268 ROU assets obtained in exchange for lease liabilities$3,228 $2,061 Future minimum rental commitments under non-cancelable operating leases with an initial lease term in excess of one year at December 27, 2024 were as follows:YearRelated parties includedin totalTotalRemainder of 2025$986 $7,597 20261,348 8,744 2027226 7,096 2028— 4,766 2029— 3,497 Thereafter— 29,759 Total undiscounted lease payments2,560 61,459 Less: Imputed interest(39)(11,401)Total net lease liability$2,521 $50,058 

6    INCOME TAXES

For the three months ended December 27, 2024 and December 29, 2023, the Company’s earnings before income taxes, income tax expense and effective income tax rate were as follows:

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IndexJOHNSON OUTDOORS INC.

 Three Months Ended (thousands, except tax rate data)December 27, 2024December 29, 2023(Loss) profit before income taxes$(18,927)$5,899 Income tax (benefit) expense(3,637)1,944 Effective income tax rate19.2 %33.0 % The decrease in the effective tax rate for the three months ended December 27, 2024 compared to the three months ended December 29, 2023 was primarily related to a change in the geographic mix of profits or losses from a tax perspective for the current year period, as compared to the prior year period.  The Company's effective tax rate is impacted by valuation allowances in certain foreign tax jurisdictions and, as a result, changes in the geographic source of Company profits or losses between periods can, in certain instances, have varying impacts on the Company's effective tax rate during a particular period. The Company maintains valuation allowances when it is more likely than not that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in the tax provision in the period of change. In determining whether a valuation allowance is required, the Company considers such factors as prior