Company: EVC
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034661
Chunk: 223

Company: ENTRAVISION COMMUNICATIONS CORP
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 223
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 estimated reimbursable cost of approximately $16.0 million.  The Company did not have gains on involuntary conversion associated with the repack process in 2024 and 2023, and recorded gains of $0.2 million in 2022, which are presented as other operating gain in the Consolidated Statements of Operations.

8. LEASES The Company’s leases are considered operating leases and primarily consist of real estate such as office space, broadcasting towers, land and land easements. The operating leases are reflected within the consolidated balance sheet as Operating leases right of use asset with the related liability presented as Operating lease liabilities and Long-term operating lease liabilities. Lease expense is recognized on a straight-line basis over the lease term. Generally, lease terms include options to renew or extend the lease. Unless the renewal option is considered reasonably certain, the exercise of any such options has been excluded from the calculation of lease liabilities. The following table summarizes the expected future payments related to lease liabilities as of December 31, 2024:  

        (in thousands)

        2025
         
        $
         
        10,607

        2026

        9,159

        2027

        7,315

        2028

        6,566

        2029

        6,068

        Thereafter

        24,331

        Total minimum payments
         
        $
         
        64,046

        Less amounts representing interest

        (14,201
        )

        Present value of minimum lease payments

        49,845

        Less current operating lease liabilities

        (7,744
        )

        Long-term operating lease liabilities
         
        $
         
        42,101

       The Company’s existing leases have remaining terms of less than one year up to 26 years. The weighted average remaining lease term and the weighted average discount rate used to calculate the Company’s lease liabilities as of December 31, 2024 were 8.4 years and 6.3%, respectively. The weighted average remaining lease term and the weighted average discount rate used to calculate the Company’s lease liabilities as of December 31, 2023 were 9.0 years and 6.2%, respectively. 

F-24

The following table summarizes lease payments and supplemental non-cash disclosures:  

        Year Ended December 31,

        (in thousands)
         
        2024