Leslie's, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

Leases (Tables)

12 Months Ended

Oct. 04, 2025

The following table summarizes the components of lease expense (in thousands):


	Year Ended
	October 4, 2025		September 28, 2024
Operating lease expense	$	89,211	$	83,982
Finance lease amortization of ROU asset		456		165
Finance lease interest on lease liability		90		15
Total net lease expense	$	89,757	$	84,162

As of October 4, 2025 and September 28, 2024, operating lease right-of-use assets obtained in exchange for operating lease liabilities totaled $3.9 million and $12.3 million.

As of October 4, 2025 and September 28, 2024, finance lease right-of-use assets obtained in exchange for finance lease liabilities totaled $1.3 million and $0.6 million.

Schedule of Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases

The following table presents the weighted-average remaining lease term and discount rate for both operating and financing leases:


	October 4, 2025			September 28, 2024
Weighted-average remaining operating lease term	5.0 years			5.3 years
Weighted-average discount rate - operating leases		6.5	%		6.4	%
Weighted-average remaining finance lease term	5.5 years			1.4 years
Weighted-average discount rate - finance leases		6.4	%		5.0	%

Schedule of Future Annual Minimum Lease Payments for Operating and Financing Leases

The following table summarizes the future annual minimum lease payments for both operating and financing leases as of October 4, 2025 (in thousands):


	Operating		Financing
2026	$	89,454	$	315
2027		75,314		209
2028		51,615		209
2029		37,052		209
2030		19,195		209
Thereafter		41,827		419
Total	$	314,457	$	1,570
Less: amount of lease payments representing imputed interest		54,661		289
Present value of future minimum lease payments		259,796		1,281
Less: current lease liabilities		74,720		243
Lease liabilities, noncurrent	$	185,076	$	1,038