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

Financing Lease Liabilities

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Financing Lease Liabilities
12 Months Ended
Dec. 31, 2024
Financing Lease Liabilities  
Financing Lease Liabilities

16.Financing Lease Liabilities

The Company’s financing lease liabilities consist of the following:

Finance Lease Liabilities

    

December 31, 2024

    

December 31, 2023

Current portion of financing lease liabilities

 

309

 

162

Financing lease liabilities

 

931

 

687

Total financing lease liabilities

 

1,240

 

849

The Company has lease arrangements for certain vehicles.  These leases typically have original terms not exceeding three years and contain residual value purchase options, which are reasonably certain of exercising. As of December 31, 2024, the Company had $1.3 million of leased vehicles included in capital assets, rolling stock (net).  For the year ended December 31, 2024, lease principal payments totaled $0.2 million and lease interest payments totaled $0.2 million for a combined lease payment total of $0.4 million. The weighted average interest rate of the leases is 14.1 percent, and the weighted average remaining life was 2.9 years as of December 31, 2024

Lease liabilities maturities including residuals as of December 31, 2024 are as follows:

Finance Lease Liability Maturities

December 31, 2024

2025

464

2026

466

2027

448

2028

185

Total

1,563

Less imputed interest

323

Present value of financing lease liabilities

1,240

Current portion of financing lease liabilities

309

Non-current portion of financing lease liabilities

931

Total financing lease liabilities

1,240