Company: HLI
Filing Date: 2025-05-15
Form Type: 10-K
Source: 0001302215-25-000024
Chunk: 129

Company: HOULIHAN LOKEY, INC.
Filing Date: 2025-05-15
Form: 10-K
Item: Item 9
Chunk 129
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 respectively.Stock Subscriptions ReceivableEmployees of the Company periodically issued notes receivable to the Company documenting loans made by the Company to such employees for the purchase of restricted shares of the Company.Share RepurchasesIn April 2022, the board of directors authorized an increase to the existing July 2021 share repurchase program, which provides for share repurchases of an aggregate amount of up to $500,000 of the Company's Class A common stock and Class B common stock. As of March 31, 2025, shares with a value of $405,524 remained available for purchase under the program.During the years ended March 31, 2025, 2024, and 2023, the Company repurchased 676,572, 772,794, and 507,511 shares, respectively, of Class B common stock, to satisfy $102,343, $70,713, and $42,283 of required withholding taxes in connection with the vesting of restricted awards, respectively. During the years ended March 31, 2025, 2024, and 2023, the Company repurchased an additional 322,344, 240,666, and 677,287 shares of its outstanding common stock, respectively, at a weighted average price of $161.90, $103.68, and $85.74 per share, excluding commissions, for an aggregate purchase price of $52,189, $24,952, and $58,073, respectively.

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Table of ContentsHOULIHAN LOKEY, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)(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 March 31, 2025, 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 March 31, 2025.Maturity of Operating LeasesOperating Leases2026$49,866 202755,393 202856,554 202955,787 203054,088 2031 and thereafter308,722 Total580,410 Less: present value discount(142,225)Operating lease liabilities$438,185 As of March