2025 Annual Report - FINAL | Page 23

John’ s Island Club, Inc. Notes to Financial Statements
Note 6. Leases( Continued) The components of lease costs are as follows for the years ended December 31:
2025 2024($ in thousands)
Operating lease costs
$
71
$
91
Finance lease cost— amortization of right-of-use assets
529
212
Finance lease cost— interest on lease liabilities
116
49
Total lease cost
$
716
$
352
Supplemental statement of financial position information related to leases is as follows as of December 31:
2025
2024
($ in thousands)
Finance leases: Equipment
$
2,156
$
2,156
Less accumulated amortization
785
256
Finance lease, right-of-use assets, net
$
1,371
$
1,900
Weighted-average remaining lease terms: Operating leases
10.8 years
12.3 years
Finance leases
2.7 years
3.7 years
Weighted-average discount rates: Operating leases
3.23 %
3.09 %
Finance leases
7.23 %
7.23 %
Future undiscounted cash flows for each of the next five years and thereafter, and a reconciliation to the lease liabilities recognized on the statement of financial position are as follows as of December 31, 2025:
Operating
Finance
Leases
Leases
($ in thousands)
Years ending December 31: 2026
$
115
$
566
2027
115
564
2028
101
365
2029
91
-
2030
91
-
Thereafter
540
-
1,053
1,495
Less imputed interest
117
139
Present value of future minimum lease payments
936
1,356
Less current portion
88
484
Long-term portion
$
848
$
872
15