Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 324

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 8
Chunk 324
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. The components of lease cost recognized within our Consolidated Statements of Income were as follows: For the years ended December 31, 202420232022Operating lease costs (office operations)$6,902 6,5296,201Variable lease costs (office operations)716 863677Total operating lease costs$7,618 7,3926,878Amounts reported in the Consolidated Statements of Financial Condition were as follows:For the years ended December 31,20242023Operating leases:Operating lease ROU assets (other assets)$46,204 61,727Operating lease liabilities (other liabilities)49,973 64,723 

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Other information related to leases were as follows:For the years ended December 31,20242023Supplemental cash flow information   Cash paid for amounts included in the measurement of lease liabilities:   Operating cash flow from operating leases$6,182 5,941   ROU assets obtained in exchange for lease obligations1,00213,736   Weighted average remaining lease term12.9 years16.6 years   Weighted average discount rate4.6 %4.2 %Amounts disclosed for ROU assets obtained in exchange for lease obligations include amounts added to the carrying amount of ROU assets resulting from lease modifications and reassessments.Maturities of lease liabilities by fiscal year for our operating leases are as follows:As of December 31, 20242025$5,514 20265,458 20275,234 20285,143 20294,554 Thereafter42,703 Total lease payments68,606 Less amount of lease payments representing interest18,633 Total present value of lease payments$49,973 

Rental expense for the years ended December 31, 2024, 2023 and 2022 was $8 million, $7 million and $7 million, respectively. 

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(4)    Marketable