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Leases
 6 Months Ended
Jun. 29, 2025
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 20 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 $0.8 million and $1.6 million for the three and six months ended June 29, 2025, respectively, and $0.9 million and $1.8 million for the three and six months ended June 30, 2024, respectively.
The components of lease expense were as follows:

Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
(In thousands)
Operating lease cost$7,288 $6,918 $14,170 $13,793 
Finance lease cost
Amortization of right-of-use asset$436 $190 $903 $384 
Interest on lease liabilities191 109 204 218 
Total finance lease cost$627 $299 $1,107 $602 

Supplemental cash flow information related to leases was as follows:

Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,400 $4,776 $10,430 $11,503 

Operating cash flows from finance leases were not material during the three and six months ended June 29, 2025 and June 30, 2024.
Supplemental balance sheet information related to leases was as follows:
June 29, 2025December 31, 2024
(In thousands)
Operating leases:
Total operating lease right-of-use assets
$116,426 $118,551 
Accrued liabilities$20,909 $19,437 
Long-term operating lease liabilities96,861 100,049 
Total operating lease liabilities$117,770 $119,486 
Finance leases:
Other long-lived assets, at cost$13,226 $12,257 
Accumulated depreciation(3,167)(2,322)
Other long-lived assets, net$10,059 $9,935 
Accrued liabilities$1,906 $1,648 
Other long-term liabilities8,628 8,845 
Total finance lease liabilities$10,534 $10,493 
June 29, 2025December 31, 2024
Weighted Average Remaining Lease Term
Operating leases10 years10 years
Finance leases6 years6 years
Weighted Average Discount Rate
Operating leases6.2 %6.2 %
Finance leases4.9 %4.8 %

In addition, we guaranteed the lease payments for certain property leases of a former subsidiary with expiration dates extending up to 2035. These lease guarantees were retained by Belden and not transferred to the buyer of the former subsidiary. As of June 29, 2025 and December 31, 2024, the fixed, remaining base rent payments were approximately $19 million and $20 million, respectively. As of June 29, 2025 and December 31, 2024, we had a liability for expected, future payments of $12.0 million and $12.3 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 20 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 $0.8 million and $1.6 million for the three and six months ended June 29, 2025, respectively, and $0.9 million and $1.8 million for the three and six months ended June 30, 2024, respectively.
The components of lease expense were as follows:

Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
(In thousands)
Operating lease cost$7,288 $6,918 $14,170 $13,793 
Finance lease cost
Amortization of right-of-use asset$436 $190 $903 $384 
Interest on lease liabilities191 109 204 218 
Total finance lease cost$627 $299 $1,107 $602 

Supplemental cash flow information related to leases was as follows:

Three Months EndedSix Months Ended
June 29, 2025June 30, 2024June 29, 2025June 30, 2024
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$5,400 $4,776 $10,430 $11,503 

Operating cash flows from finance leases were not material during the three and six months ended June 29, 2025 and June 30, 2024.
Supplemental balance sheet information related to leases was as follows:
June 29, 2025December 31, 2024
(In thousands)
Operating leases:
Total operating lease right-of-use assets
$116,426 $118,551 
Accrued liabilities$20,909 $19,437 
Long-term operating lease liabilities96,861 100,049 
Total operating lease liabilities$117,770 $119,486 
Finance leases:
Other long-lived assets, at cost$13,226 $12,257 
Accumulated depreciation(3,167)(2,322)
Other long-lived assets, net$10,059 $9,935 
Accrued liabilities$1,906 $1,648 
Other long-term liabilities8,628 8,845 
Total finance lease liabilities$10,534 $10,493 
June 29, 2025December 31, 2024
Weighted Average Remaining Lease Term
Operating leases10 years10 years
Finance leases6 years6 years
Weighted Average Discount Rate
Operating leases6.2 %6.2 %
Finance leases4.9 %4.8 %

In addition, we guaranteed the lease payments for certain property leases of a former subsidiary with expiration dates extending up to 2035. These lease guarantees were retained by Belden and not transferred to the buyer of the former subsidiary. As of June 29, 2025 and December 31, 2024, the fixed, remaining base rent payments were approximately $19 million and $20 million, respectively. As of June 29, 2025 and December 31, 2024, we had a liability for expected, future payments of $12.0 million and $12.3 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.