Company: MRCY
Filing Date: 2025-08-11
Form Type: 10-K
Source: 0001049521-25-000024
Chunk: 115

Company: MERCURY SYSTEMS INC
Filing Date: 2025-08-11
Form: 10-K
Item: Item 8
Chunk 115
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768)Restructuring liability at June 27, 2025$1,206 

I.Leases 

The Company enters into lease arrangements to facilitate its operations, including manufacturing, storage, as well as engineering, sales, marketing and administration resources. The Company measures its lease obligations in accordance with ASC 842, which requires lessees to record a ROU asset and lease liability for most lease arrangements. Finance leases are not material to the Company's consolidated financial statements and therefore are excluded from the following disclosures.SUPPLEMENTAL BALANCE SHEET INFORMATIONSupplemental operating lease balance sheet information is summarized as follows:As ofAs of June 27, 2025June 28, 2024Operating lease right-of-use assets, net$52,264 $60,860 Accrued expenses(1)$11,810 $11,614 Operating lease liabilities52,738 62,584 Total operating lease liabilities$64,548 $74,198     (1) The short term portion of the Operating lease liabilities is included within Accrued expenses on the Consolidated Balance Sheet.OTHER SUPPLEMENTAL INFORMATIONOther supplemental operating lease information is summarized as follows:For the Fiscal Year EndedJune 27, 2025June 28, 2024Cash paid for amounts included in the measurement of operating lease liabilities$11,401 $10,343 Right-of-use assets obtained in exchange for new lease liabilities $2,261 $7,249 Weighted average remaining lease term5.7 years6.4 yearsWeighted average discount rate5.59 %5.50 %

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MATURITIES OF LEASE COMMITMENTSMaturities of operating lease commitments as of June 27, 2025 were as follows:Fiscal YearTotals2026$14,368 202714,203 202812,841 202911,045 20309,343 Thereafter12,942 Total lease payments74,742 Less: imputed interest(10,194)Present value of operating lease liabilities$64,548 During fiscal 2025, 2024 and 2023 the Company recognized operating lease expense of $14,587, $13,775, and $13,763, respectively. There were no material restrictions, covenants, sale and leaseback transactions, variable lease payments or residual value guarantees imposed by the Company's leases at June 27, 2025.

J.Income