Company: DBRG
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001679688-25-000017
Chunk: 220

Company: DigitalBridge Group, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 220
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 results of operations, financial position or liquidity.

Leases As lessee, the Company's leasing arrangements are generally limited to operating leases for its corporate offices.The weighted average remaining lease term based upon outstanding lease liability balances at December 31, 2024 was 5.7 years for operating leases on corporate offices. The following table summarizes total lease cost for operating leases on corporate offices, which are included in administrative expense.  December 31,(In thousands)202420232022Fixed lease expense$9,028 $8,678 $7,090 Variable lease expense2,172 1,713 2,073 Total operating lease cost$11,200 $10,391 $9,163 In 2022, the Company also had operating leases on tower assets that were temporarily warehoused from June to December 2022, with total lease cost, generally fixed, of $7.6 million.Lease CommitmentsOperating lease liabilities take into consideration renewal or termination options when such options are deemed reasonably certain to be exercised by the Company and exclude variable lease payments which are expensed as incurred. The Company makes variable lease payments for: (i) leases with rental payments that are adjusted periodically for inflation, and/or (ii) nonlease services, such as common area maintenance. 

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The table below presents the Company's future lease commitments for operating leases on corporate offices at December 31, 2024, determined using a weighted average discount rate of 5.9%.Year Ending December 31,(In thousands)2025$9,855 202610,542 20279,793 20287,056 20293,317 2030 and thereafter11,700 Total lease payments52,263 Present value discount(8,912)Operating lease liability on corporate offices$43,351 The Company has sub-leased a portion of certain of its existing office space over the remaining term of the respective leases that expire between 2025 and 2028, with fixed sub-lease payments expected to be received over the remaining life of the sub-lease contracts totaling $3.1 million.Commitments on Future Leases

At December 31, 2024, the Company has operating lease commitments on two office spaces, one of which commenced in January 2025 and the other is expected to commence in 2026. The fixed lease payments (undiscounted) total $53.3 million over a ten year weighted average lease term