Company: NODK
Filing Date: 2025-03-07
Form Type: 10-K
Source: 0001174947-25-000304
Chunk: 592

Company: NI Holdings, Inc.
Filing Date: 2025-03-07
Form: 10-K
Item: Item 1B
Chunk 592
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 Bank, N.A. at the lease commencement date, as rates are
not implicitly stated in most leases. Lease liabilities are included in accrued expenses and other liabilities and right-of-use assets
are included in other assets in our Consolidated Balance Sheets.

There were expenses of $484, $407, and $391 related
to these leases during the years ended December 31, 2024, 2023, and 2022, respectively.

Additional information regarding the Company’s
leases are as follows:

     As of and For the Year Ended December 31,      2024   2023   2022   Operating lease cost  $383   $389   $391   Finance lease cost:                 Amortization of right-of-use assets   80    14    —   Interest on lease liabilities   21    4    —   Finance lease cost   101    18    —   Total lease cost  $484   $407   $391                     Other information on leases:                 Cash payments included in operating cash flows from operating leases  $406   $408   $340   Cash payments included in operating cash flows from finance leases   21    4    —   Cash payments included in financing cash flows from finance leases   99    16    —   Right-of-use assets obtained in exchange for new operating lease liabilities   185    247    —   Right-of-use assets obtained in exchange for new finance lease liabilities   —    319    —   Weighted average discount rate – operating leases   4.48%    3.94%    3.25%   Weighted average discount rate – finance leases   8.50%    8.50%    —   Weighted average remaining lease term in years – operating leases   4.5 years    5.3 years     6.3 years   Weighted average remaining lease term in years – finance leases   1.8 years    2.8 years    —  

89 

The following table presents the contractual maturities of the Company’s