18.Financing Lease Liabilities

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

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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, 2025 and 2024, the Company had $2.0 million and $1.3 million respectively, of leased vehicles included in capital assets, rolling stock (net).  For the years ended December 31, 2025 and 2024, lease principal payments totaled $0.7 million and $0.2 million, respectively, and lease interest payments totaled $0.2 million and $0.2 million, respectively, for a combined lease payment total of $0.9 million and $0.4 million, respectively. For the years ended December 31, 2025 and 2024, the Company recorded depreciation of $0.7 million and $0.4 million and total expense reflected in the consolidated statement of operations was $0.9 million and $0.6 million, respectively.  The weighted average discount rate of the leases is 13.8 percent, and the weighted average remaining life was 2.8 years as of December 31, 2025. The weighted average discount 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, 2025 are as follows:

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