Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 425

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 8
Chunk 425
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132 
 Total lease cost  $676  $674 

        F-
       15

        BK TECHNOLOGIES CORPORATION

        YEARS ENDED
        DECEMBER 31, 2024 AND
       2023

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

        (in thousands, except share data and percentages)

   8. Leases (Continued)
    
   Supplemental cash flow information related to leases was as follows:

       December 31,  
   2024    2023  
 Cash paid for amounts included in the measurement of lease liabilities:         
 Operating cash flows (fixed payments)  $611  $595 
 Operating cash flows (liability reduction)   528   485 

   Other information related to operating leases was as follows:

       December 31,  
   2024  
 Weighted average remaining lease term (in years)   2.36 
 Weighted average discount rate   5.50%

   Maturity of operating lease liabilities as of  December 31, 2024 were as follows:

       Year ending  
   December 31,  
 2025  $625 
 2026   486 
 2027   249 
 2028   5 
 2029   3 
 Thereafter   — 
 Total payments   1,368 
 Less: imputed interest   (83)
 Total liability  $1,285 

   9. Income Taxes
    
   The income tax expense (benefit) is summarized as follows:

       Years Ended December 31,  
   2024    2023  
 Current:         
 Federal  $489  $25 
 State   1,199   29 
   1,688   54 
 Deferred:         
 Federal   (1,581)  — 
 State   (1,091)  — 
   (2,672)  — 
  $(984) $54 

   A reconciliation of the statutory U.S. income tax rate to the effective income tax rate follows:

       Years Ended December 31,  
   2024    2023  
         
 Statutory U.S. income tax rate   21.00%  21.00%