Company: AMTX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015301
Chunk: 66

Company: AEMETIS, INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1F
Chunk 66
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  December 31, 2024, were $1.0 million and $1.8 million, respectively. Allowance for credit losses as of  March 31, 2025 and  December 31, 2024 for all segments was $0 and $36 thousand, respectively. There were no liabilities for unearned revenue for any segments as of  March 31, 2025. 

8. Leases
 
The Company is a party to operating leases for the Company's corporate office in Cupertino, modular offices, and laboratory facilities.  We have also entered into several finance leases for mobile equipment and for the Riverbank Industrial Complex. These finance leases have a purchase option at the end of the term that we are reasonably certain we will exercise, so the leases are classified as finance leases. All of our leases have remaining terms of one year to 13 years. We apply an accounting policy election to keep leases with an initial term of 12 months or less off the balance sheet, and recognize those lease payments in the Consolidated Statements of Operations as we incur the expenses.
 
The Company evaluates leases in accordance with ASC 842 – Lease Accounting. When discount rates implicit in leases cannot be readily determined, we use the applicable incremental borrowing rate at lease commencement to perform lease classification tests on lease components and to measure lease liabilities and right of use (ROU) assets. The incremental borrowing rate used by the Company is based on weighted average baseline rates commensurate with the Company’s secured borrowing rate, over a similar term. At each reporting period when there is a new lease initiated, the rates established for that quarter are used.

    13

     (Tabular data in thousands, except par value and per share data)

The components of lease expense are as follows:
 
   Three months ended March 31,  
   2025    2024  
 Operating lease cost         
 Operating lease expense  $190  $181 
 Short term lease expense   45   21 
 Variable lease expense   23   32 
 Total operating lease cost  $258  $234 
         
 Finance lease cost         
 Amortization of right-of-use assets  $30  $30 
 Interest on lease liabilities   90   86 
 Total finance lease cost  $120  $116 

Cash paid for amounts included in the measurement of lease liabilities:
 
   Three months ended March 31,