Company: BL
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001666134-25-000003
Chunk: 146

Company: BLACKLINE, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 146
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 Construction in progress2,638 — Property and equipment, gross63,627 59,248 Less: accumulated depreciation and amortization(51,787)(44,381)Property and equipment, net$11,840 $14,867 Depreciation and amortization expense related to property and equipment was $7.9 million, $10.4 million, and $9.5 million for the years ended December 31, 2024, 2023, and 2022, respectively.

Note 10 – Leases

The Company has entered into various operating and finance lease agreements for office space and data centers. As of December 31, 2024, the Company had 18 leased properties with remaining lease terms of less than one year to ten years, some of which include options to extend or terminate the leases.The components of the lease expense recorded in the consolidated statements of operations were as follows (in thousands):Year Ended December 31,202420232022Finance lease cost:Amortization of assets$1,007 $1,020 $652 Interest on lease liabilities19 45 44 Operating lease cost7,519 6,663 5,767 Short-term lease cost532 378 388 Variable cost1,343 1,237 1,190 Total lease cost$10,420 $9,343 $8,041 Cash flow and other information related to leases was as follows (in thousands, except percentages):Year Ended December 31,202420232022Cash paid for amounts included in the measurement of lease liabilitiesFinancing cash flows from finance leases$1,046 $1,036 $662 Operating cash flows from operating lease liabilities$7,899 $7,467 $5,338 Weighted average remaining lease term at end of period (in years):Finance leases2.60.81.7Operating leases6.24.23.9Weighted average discount rate:Finance leases7.8 %3.5 %3.7 %Operating leases7.4 %5.7 %2.8 %

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Maturities of lease liabilities at December 31, 2024, for each of the five succeeding fiscal years and thereafter, were (in thousands):Finance LeasesOperating Leases2025$72 $4,800 202616 6,126 202716 5,318