Company: JBI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001839839-25-000132
Chunk: 55

Company: Janus International Group, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 55
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 as follows:March 29, 2025December 28, 2024Weighted Average Remaining Lease Term (in years)Operating leases12.512.6Finance leases2.92.9Weighted Average Discount RateOperating leases7.4%7.4%Finance leases7.4%7.9%

18

Janus International Group, Inc.Notes to Unaudited Condensed Consolidated Financial Statements

As of March 29, 2025, future minimum lease payments under noncancellable operating leases with initial or remaining lease terms in excess of one year were as follows:(dollar amounts in millions)2025$7.3 20269.7 20278.8 20288.6 20297.5 Thereafter54.0 Total future lease payments$95.9 Less: imputed interest(35.4)Present value of future lease payments$60.5 As of March 29, 2025, future minimum repayments of finance leases were as follows:(dollar amounts in millions)2025$1.3 20261.3 20271.0 20280.5 20290.1 Thereafter— Total future lease payments$4.2 Less: imputed interest(0.4)Present value of future lease payments$3.8 

11. Income Taxes 

The Company is taxed as a Corporation under Subchapter C in the U.S. The Company also files in U.S. state and local jurisdictions and in other countries where the Company operates. The Company’s effective tax rate is based on pre-tax earnings, enacted U.S. statutory tax rates, non-deductible expenses, and certain tax rate differences between U.S. and foreign jurisdictions. The foreign subsidiaries file income tax returns in local country jurisdictions as required. The U.K., France, and Australia entities are included on U.S. tax returns as pass-through entities. The Company accounts for income taxes in accordance with FASB ASC 740, “Income Taxes” (“ASC 740”). The Company determines its provision for income taxes for interim periods using an estimate of its annual effective tax rate on year-to-date ordinary income and records any changes affecting the estimated annual effective tax rate in the interim period in which the changes occur. The Company’s provision for income taxes consists of provisions for federal, state, and foreign income taxes. Deferred tax liabilities and assets attributable to different tax jurisdictions are not offset in the condensed consolidated financial statements. During the