Quarterly report [Sections 13 or 15(d)]

Financing Lease Liabilities

v3.25.2
Financing Lease Liabilities
6 Months Ended
Jun. 30, 2025
Financing Lease Liabilities  
Financing Lease Liabilities

12.

Finance Lease Liabilities

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

Finance Lease Liabilities

    

June 30, 2025

    

December 31, 2024

Current portion of financing lease liabilities

 

1,022

 

309

Financing lease liabilities

 

1,272

 

931

Total financing lease liabilities

 

2,294

 

1,240

The Company has lease arrangements for certain vehicles and mobile equipment. These leases typically have original terms not exceeding four years and contain residual value purchase options, which are reasonably certain of being exercised. As of June 30, 2025, the Company had $3.4 million of leased vehicles and mobile equipment included in capital assets-rolling stock (net).  For the six months ended June 30, 2025, lease principal payments totaled less than $0.2 million and lease interest payments totaled $0.1 million for a combined lease payment total of $0.3 million. The weighted average interest rate of the leases is 15.4%, and the weighted average remaining life was 2.5 years as of June 30, 2025.

Lease liabilities maturities including residuals as of June 30, 2025 are as follows:

Finance Lease Liability Maturities

June 30, 2025

2025

423

2026

1,134

2027

649

2028

364

2029

170

Total

2,740

Less imputed interest

446

Present value of financing lease liabilities

2,294

Current portion of financing lease liabilities

1,022

Non-current portion of financing lease liabilities

1,272

Total financing lease liabilities

2,294