Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 508

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 508
---
	13

			Totals

			$
			35

			$
			34

			$
			32

Future minimum commitments due under operating lease agreements as of December 31, 2024 are as follows, including renewal options that are reasonably certain to be exercised:

			Year ending December 31:

			(In thousands)

			2025

			5

			Total lease payments

			5

			Less imputed interest

			(1
			)

			Total

			$
			4

The lease term and discount rate at December 31, 2024 and 2023 were as follows:

			2024

			2023

			Weighted-average remaining lease term (years)

			0.25

			1.25

			Weighted-average discount rate

			1.34
			%

			1.34
			%

Supplemental cash flow information for the years ended December 31, 2024, 2023 and 2022 related to leases was as follows:

			2024

			2023

			2022

			(In thousands)

			Cash paid for amounts included in the measurement of lease liabilities:

			Operating cash flows from operating leases

			$
			19

			$
			19

			$
			19

F-43

FIRST CAPITAL, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED

(11 - continued)

The Company also leases space to tenants under various operating leases.  Lease income recorded under tenant leases was $61,000, $47,000 and $53,000 for the years ended December 31, 2024, 2023 and 2022, respectively.  Future minimum lease payments to be received under tenant leases with initial or remaining terms in excess of one year total $110,000, $95,000, $72,000, $49,000 and $45,000 for the years ended December 31, 2025, 2026, 2027, 2028 and 2029, respectively.

			(12)

			INCOME TAXES

The Company and its corporate subsidiaries file consolidated tax returns.  The components of consolidated income tax expense for the years ended December 31, 2024, 2023 and 2022 were as follows: