Company: NODK
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001174947-25-000721
Chunk: 113

Company: NI Holdings, Inc.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 8
Chunk 113
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 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 the Consolidated Balance Sheets.

There were expenses of $115 and $122 related to these
leases during the three months ended March 31, 2025 and 2024, respectively.

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

     As of and For the Three Months Ended March 31,      2025   2024   Operating lease cost  $91   $96   Finance lease cost:            Amortization of right-of-use assets   20    20   Interest on lease liabilities   4    6   Finance lease cost   24    26   Total lease cost  $115   $122                Other information on leases:            Cash payments included in operating cash flows from operating leases  $97   $101   Cash payments included in operating cash flows from finance leases   4    6   Cash payments included in financing cash flows from finance leases   26    25   Right-of-use assets obtained in exchange for new operating lease liabilities   —    —   Right-of-use assets obtained in exchange for new finance lease liabilities   —    —   Weighted average discount rate – operating leases   4.47%    3.94%   Weighted average discount rate – finance leases   8.50%    8.50%   Weighted average remaining lease term in years – operating leases   4.4 years    5.1 years   Weighted average remaining lease term in years – finance leases   1.6 years    2.6 years  

The following table presents the contractual maturities of the Company’s
lease liabilities for each of the five years in the period ending December 31, 2029, and thereafter, reconciled to our lease liability
at March 31, 2025:

    Year ending December 31, 
    Operating Leases  
    Finance Leases  
    Total 
  
    2025 (nine months remaining) 
    $296  
    $90  
    $