v3.26.3
Leases
 9 Months Ended
Sep. 27, 2026
Leases [Abstract]  
Leases Leases
We have operating and finance leases for properties, including manufacturing facilities, warehouses, and office space; as well as vehicles and equipment. We make certain judgments in determining whether a contract contains a lease in accordance with ASU 2016-02. Our leases have remaining lease terms within 1 to 19 years; some of which include extension and termination options. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably certain as of the commencement date of the lease. We have a few short-term operating leases with terms less than twelve months - these leases are not recorded on our balance sheet and the overall rent expense is not material.
We also have certain lease contracts that contain both lease and non-lease components. We have elected the practical expedient to account for these components together as a single, combined lease component. The rate implicit in most of our leases is not readily determinable. As a result, we utilize the incremental borrowing rate to determine the present value of the lease payments, which is unique to each leased asset, and is based upon the term of the lease, commencement date of the lease, local currency of the leased asset, and the credit rating of the legal entity leasing the asset.

Our lease agreements do not contain material residual value guarantees. Our variable lease expense was approximately $1.0 million and $0.8 million for the three months ended September 27, 2026 and September 28, 2025, respectively, and $2.4 million and $2.4 million for the nine months ended September 27, 2026 and September 28, 2025, respectively.


The components of lease expense were as follows:

Three Months EndedNine Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
(In thousands)
Operating lease cost$8,591 $7,195 $22,954 $21,365 
Finance lease cost
Amortization of right-of-use asset$444 $417 $1,292 $1,320 
Interest on lease liabilities262 142 501 346 
Total finance lease cost$706 $559 $1,793 $1,666 

Supplemental cash flow information related to leases was as follows:

Three Months EndedNine Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$6,345 $5,310 $17,341 $15,740 

Operating cash flows from finance leases were not material during the three and nine months ended September 27, 2026 and September 28, 2025.
Supplemental balance sheet information related to leases was as follows:
September 27, 2026December 31, 2025
(In thousands)
Operating leases:
Total operating lease right-of-use assets
$132,012 $113,033 
Accrued liabilities$20,037 $20,159 
Long-term operating lease liabilities113,690 94,372 
Total operating lease liabilities$133,727 $114,531 
September 27, 2026December 31, 2025
(In thousands)
Finance leases:
Other long-lived assets, at cost$13,393 $13,565 
Accumulated depreciation(4,984)(4,014)
Other long-lived assets, net$8,409 $9,551 
Accrued liabilities$2,103 $1,987 
Other long-term liabilities6,422 7,914 
Total finance lease liabilities$8,525 $9,901 

September 27, 2026December 31, 2025
Weighted Average Remaining Lease Term
Operating leases9 years10 years
Finance leases5 years5 years
Weighted Average Discount Rate
Operating leases6.0 %6.1 %
Finance leases4.8 %4.9 %
In addition, we guaranteed the lease payments for certain property leases of a former subsidiary that were retained by Belden and not transferred to the buyer of the former subsidiary. During the nine months ended September 27, 2026, we signed an agreement to terminate one of our guarantees for GBP 7.2 million ($9.7 million) paid over three separate installments, the first of which for GBP 2.4 million ($3.2 million) was paid during 2026. As of September 27, 2026 and December 31, 2025, we had a liability for all lease guarantees of $9.0 million and $10.7 million, respectively. The liability is based on certain assumptions that we continually reassess on an ongoing basis. We will update the estimated liability balance for changes in assumptions as needed.
Leases Leases
We have operating and finance leases for properties, including manufacturing facilities, warehouses, and office space; as well as vehicles and equipment. We make certain judgments in determining whether a contract contains a lease in accordance with ASU 2016-02. Our leases have remaining lease terms within 1 to 19 years; some of which include extension and termination options. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably certain as of the commencement date of the lease. We have a few short-term operating leases with terms less than twelve months - these leases are not recorded on our balance sheet and the overall rent expense is not material.
We also have certain lease contracts that contain both lease and non-lease components. We have elected the practical expedient to account for these components together as a single, combined lease component. The rate implicit in most of our leases is not readily determinable. As a result, we utilize the incremental borrowing rate to determine the present value of the lease payments, which is unique to each leased asset, and is based upon the term of the lease, commencement date of the lease, local currency of the leased asset, and the credit rating of the legal entity leasing the asset.

Our lease agreements do not contain material residual value guarantees. Our variable lease expense was approximately $1.0 million and $0.8 million for the three months ended September 27, 2026 and September 28, 2025, respectively, and $2.4 million and $2.4 million for the nine months ended September 27, 2026 and September 28, 2025, respectively.


The components of lease expense were as follows:

Three Months EndedNine Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
(In thousands)
Operating lease cost$8,591 $7,195 $22,954 $21,365 
Finance lease cost
Amortization of right-of-use asset$444 $417 $1,292 $1,320 
Interest on lease liabilities262 142 501 346 
Total finance lease cost$706 $559 $1,793 $1,666 

Supplemental cash flow information related to leases was as follows:

Three Months EndedNine Months Ended
September 27, 2026September 28, 2025September 27, 2026September 28, 2025
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$6,345 $5,310 $17,341 $15,740 

Operating cash flows from finance leases were not material during the three and nine months ended September 27, 2026 and September 28, 2025.
Supplemental balance sheet information related to leases was as follows:
September 27, 2026December 31, 2025
(In thousands)
Operating leases:
Total operating lease right-of-use assets
$132,012 $113,033 
Accrued liabilities$20,037 $20,159 
Long-term operating lease liabilities113,690 94,372 
Total operating lease liabilities$133,727 $114,531 
September 27, 2026December 31, 2025
(In thousands)
Finance leases:
Other long-lived assets, at cost$13,393 $13,565 
Accumulated depreciation(4,984)(4,014)
Other long-lived assets, net$8,409 $9,551 
Accrued liabilities$2,103 $1,987 
Other long-term liabilities6,422 7,914 
Total finance lease liabilities$8,525 $9,901 

September 27, 2026December 31, 2025
Weighted Average Remaining Lease Term
Operating leases9 years10 years
Finance leases5 years5 years
Weighted Average Discount Rate
Operating leases6.0 %6.1 %
Finance leases4.8 %4.9 %
In addition, we guaranteed the lease payments for certain property leases of a former subsidiary that were retained by Belden and not transferred to the buyer of the former subsidiary. During the nine months ended September 27, 2026, we signed an agreement to terminate one of our guarantees for GBP 7.2 million ($9.7 million) paid over three separate installments, the first of which for GBP 2.4 million ($3.2 million) was paid during 2026. As of September 27, 2026 and December 31, 2025, we had a liability for all lease guarantees of $9.0 million and $10.7 million, respectively. The liability is based on certain assumptions that we continually reassess on an ongoing basis. We will update the estimated liability balance for changes in assumptions as needed.