9.    Leases

We lease retail shoe stores, as well as several office and distribution facilities worldwide. The leases have original lease periods expiring between 2026 and 2031. Many leases include one or more options to renew. We do not assume renewals in our determination of the lease term unless the renewals are deemed to be reasonably assured at lease commencement. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The components of our operating lease costs were as follows:

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Variable lease costs primarily include percentage rentals based upon sales in excess of specified amounts. For the three and nine months ended September 30, 2026, variable lease costs were $0.4 million and $1.3 million, respectively.

Short-term lease costs, which were excluded from the above table, are not material to our financial statements.

The following is a schedule of maturities of operating lease liabilities as of September 30, 2026:

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The operating lease liabilities were classified in the Condensed Consolidated Balance Sheets as follows:

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We determined the present value of our lease liabilities using a weighted-average discount rate of 4.73%. As of September 30, 2026, our leases had a weighted-average remaining lease term of 2.7 years.

Supplemental cash flow information related to our operating leases is as follows:

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