Company: MNTR
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001620
Chunk: 403

Company: Mentor Capital, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 403
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 years to 5 years. Depreciation on vehicles
used by our discontinued operation to service its customers is included in the cost of goods sold. All other depreciation is included
in selling, general, and administrative costs in the consolidated income statements.

Expenditures
for major renewals and improvements are capitalized, while minor replacements, maintenance, and repairs, which do not extend the asset
lives, are charged to operations as incurred. Upon sale or disposition, the cost and related accumulated depreciation are removed from
the accounts, and any gain or loss is included in operations. The Company continually monitors events and changes in circumstances that
could indicate that the carrying balances of its property and equipment may not be recoverable in accordance with the provisions of ASC
360, “Property, Plant, and Equipment.” When such events or changes in circumstances are present, the Company assesses
the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted
expected future cash flows. If the total of the future cash flows is less than the carrying amount of those assets, the Company recognizes
an impairment loss based on the excess of the carrying amount over the fair value of the assets. See Note 6.

The
Company reviews intangible assets subject to amortization quarterly to determine if any adverse conditions exist or if a change in circumstances
has occurred that would indicate impairment or a change in the remaining useful life. Conditions that may indicate impairment include,
but are not limited to, a significant adverse change in legal factors or business climate that could affect the value of an asset, or
an adverse action or assessment by a regulator. If an impairment indicator exists, we test the intangible asset for recoverability. For
purposes of the recoverability test, we group our amortizable intangible assets with other assets and liabilities at the lowest level
of identifiable cash flows if the intangible asset does not generate cash flows independent of other assets and liabilities. If the carrying
value of the intangible asset (asset group) exceeds the undiscounted cash flows expected to result from the use and eventual disposition
of the intangible asset (asset group), the Company will write the carrying value down to the fair value in the period identified.

Lessee
Leases

We
determine whether an arrangement is a lease at inception under ASC 842 “Leases.” This includes general descriptions
of leases and various details regarding terms and conditions, such as the basis that variable lease payments are determined. Lessee