Company: JOUT
Filing Date: 2025-12-12
Form Type: 10-K
Source: 0001140361-25-045348
Chunk: 78

Company: JOHNSON OUTDOORS INC
Filing Date: 2025-12-12
Form: 10-K
Item: Item 15
Chunk 78
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 Consolidated Statements of Operations for the years ended October 3, 2025, September 27, 2024 and September 29, 2023 was:

F-21

   Location of income recognized in Statement ofOperations    202520242023Rabbi trust assetsOther (income) expense, net$(1,448)$(6,669)$(2,862) Certain assets and liabilities are measured at fair value on a non-recurring basis in periods subsequent to their initial recognition.  No assets or liabilities were measured at fair value on a non-recurring basis in 2025, 2024, or 2023.

5    LEASES

The Company determines if an arrangement is a lease at inception.  The Company leases certain facilities and machinery and equipment under long-term, non-cancelable operating leases.   As an ongoing accounting policy election under Topic 842, the Company excludes short-term leases (terms of 12 months or less) from the balance sheet presentation and accounts for non-lease and lease components in a contract as a single lease component for most asset classes.  All leases in which the Company is the lessee are classified as operating leases, and the Company does not have any finance leases or sublease agreements.  Additionally, the Company does not have any leases in which it is the lessor.  As of October 3, 2025, the Company had approximately 200 leases, with remaining terms ranging from less than one year to 16 years.  Some of the leases contain variable payment terms, such as payments based on fluctuations in the Consumer Price Index (CPI).  Variable lease payments are expensed in the period in which the obligation for those payments was incurred.  Some leases also contain options to extend or terminate the lease.  To the extent the Company is reasonably certain to exercise these options, they have been considered in the calculation of the right-of-use ("ROU") assets and lease liabilities.  Under current lease agreements, there are no residual value guarantees or restrictive lease covenants.  In calculating the ROU assets and lease liabilities, several assumptions and judgments were made by the Company, including whether a contract is or contains a lease under the new definition, and the determination of the discount rate, which is assumed to be the incremental borrowing rate.  The incremental borrowing rate is derived from information available to the Company at the lease commencement date based on lease length and location.  As of October 3, 2025, the components