Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 156

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 1B
Chunk 156
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        (dollars in thousands)

        December 31, 2024

        December 31, 2023

        Lease Right-of-Use Assets
         
        Classification

        Operating Lease Right-of-Use Assets
         
        Operating Lease Right-of-Use Assets
         
        $
        80,165

        $
        86,110

        Finance Lease Right-of-Use Assets
         
        Premises and Equipment, Net

        551

        2,088

        Total Lease Right-of-Use Assets

        $
        80,716

        $
        88,198

        Lease Liabilities

        Operating Lease Liabilities
         
        Operating Lease Liabilities
         
        $
        88,794

        $
        94,693

        Finance Lease Liabilities
         
        Other Debt

        8,274

        10,190

        Total Lease Liabilities

        $
        97,068

        $
        104,883

       The calculated amount of the ROU assets and lease liabilities in the table above are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew at the Company’s discretion. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the ROU asset and lease liability. Regarding the discount rate, Topic 842 requires the use of the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception, on a collateralized basis, over a similar term. For operating leases existing prior to January 1, 2019, the rate for the remaining lease term as of January 1, 2019, was used. For the Company’s only finance lease, the Company utilized its incremental borrowing rate at lease inception. 

        December 31, 2024
         
        December 31, 2023

        Weighted-Average Remaining Lease Term

        Operating Leases
         
        13.8 years
         
        14.7 years

        Finance Leases
         
        28.0 years
         
        29.0 years

        Weighted-Average Discount Rate

        Operating