Company: BANC-PF
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-050892
Chunk: 111

Company: BANC OF CALIFORNIA, INC.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 111
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 the measurement of lease liabilities:Operating cash flows from operating leases$24,064 $28,689 ROU assets obtained in exchange for lease obligations:Operating leases$22,540 $3,437 

50

BANC OF CALIFORNIA, INC. AND SUBSIDIARIESNotes to Condensed Consolidated Financial Statements (Unaudited)

The following table presents supplemental balance sheet and other information related to operating leases as of the dates indicated:September 30,December 31,20252024(Dollars in thousands)Operating leases:Operating lease right-of-use assets, net$101,520 $100,092 Operating lease liabilities$123,254 $124,355 Weighted average remaining lease term (in years)5.85.9Weighted average discount rate3.75 %3.53 %The following table presents the maturities of operating lease liabilities as of the date indicated: September 30, 2025(In thousands)Period ending December 31, 2025$7,763 202630,882 202724,621 202820,453 202916,540 Thereafter37,729 Total operating lease liabilities137,988 Less: Imputed interest(14,734)Present value of operating lease liabilities$123,254 Operating Leases as a Lessor     We provide equipment financing to our customers through operating leases where we facilitate the purchase of equipment leased to our customers. The equipment is shown on the condensed consolidated balance sheets as "Equipment leased to others under operating leases" and is depreciated to its estimated residual value at the end of the lease term, shown as "Leased equipment depreciation" in the condensed consolidated statements of earnings, according to our fixed asset accounting policy. We receive periodic rental income payments under the leases, which are recorded as "Leased equipment income" in the condensed consolidated statements of earnings. The equipment is tested periodically for impairment. No impairment was recorded on "Equipment leased to others under operating leases" during the nine months ended September 30, 2025 and 2024.      The following table presents the rental payments to be received on operating leases as of the date indicated: 

September 30, 2025(In thousands)Period ending December 31, 2025$8,710 202635,630 202729,290 202826,424 202924,917 Thereafter45,985 Total undiscounted cash flows$170,