Thermon Group Holdings, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

12 Months Ended

Mar. 31, 2026


Lease Term and Discount Rate	March 31, 2026		March 31, 2025
Weighted average remaining lease term (in years):
Operating	4.3		4.4
Finance	2.9		4.8

Weighted average discount rate:
Operating	4.30	%	4.29	%
Finance	10.11	%	4.27	%

Supplemental statement of cash flows information related to leases was as follows:


Cash paid for amounts included in the measurement of lease liabilities	Year-Ended March 31, 2026		Year-Ended March 31, 2025		Year-Ended March 31, 2024
Operating cash used for operating leases	$	5,211	$	4,574	$	4,231
Operating cash flows used for finance leases	194		165		149
Financing cash flows used for finance leases	59		58		28

Supplemental balance sheet information related to leases was as follows:


Assets	Classification	March 31, 2026		March 31, 2025
Operating	Operating lease right-of-use assets	$	14,783	$	11,192
Finance	Property, plant and equipment	776		545
Total right-of-use assets		$	15,559	$	11,737

Liabilities
Current:
Operating	Lease liabilities	$	4,473	$	3,793
Finance	Lease liabilities	228		230
Non-current:
Operating	Non-current lease liabilities	11,597		8,931
Finance	Non-current lease liabilities	502		368
Total lease liabilities		$	16,800	$	13,322

Supplemental statement of operations information related to leases was as follows:


Lease expense	Classification	Year-Ended March 31, 2026		Year-Ended March 31, 2025		Year-Ended March 31, 2024
Operating lease expense	Selling, general, and administrative expenses	$	4,709	$	4,239	$	3,953

Finance lease expense:
Amortization of ROU assets	Selling, general, and administrative expenses	194		165		149
Interest expense on finance lease liabilities	Interest expense	59		58		28

Short-term lease expense	Selling, general, and administrative expenses	175		14		2
Net lease expense		$	5,137	$	4,476	$	4,132

Future lease payments under non-cancelable leases as of March 31, 2026 were as follows: