Company: PRI
Filing Date: 2025-02-28
Form Type: 10-K
Source: 0000950170-25-029882
Chunk: 369

Company: Primerica, Inc.
Filing Date: 2025-02-28
Form: 10-K
Item: Item 1B
Chunk 369
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 balance sheets. As of December 31, 2024 and December 31, 2023, finance lease right-of-use assets of $1.0 million and $0.5 million, respectively, and finance lease liabilities of $1.0 million and $0.5 million, respectively, were recorded within Other assets and Other liabilities within our consolidated balance sheets. The Company determines its lease liabilities, which are measured at the present value of future lease payments, using the Company’s incremental secured borrowing rate at the lease commencement date that is commensurate with the term of the underlying lease or the rate implicit in the lease if readily determinable.The components of lease expense were as follows: 

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Operating lease cost

        Operating lease cost
         
        $
        7,463

        $
        7,548

        $
        7,643

        Variable lease cost (includes taxes, common area maintenance and insurance)

        969

        866

        895

        Finance lease cost

        Depreciation of finance lease assets

        263

        258

        271

        Interest on lease liabilities

        38

        37

        55

        Total lease cost
         
        $
        8,733

        $
        8,709

        $
        8,864

       Other information related to leases was as follows: 

        Year ended December 31,

        2024

        2023

        2022

        (In thousands)

        Supplemental Cash Flows Information

        Cash paid for amounts included in the measurement of lease liabilities:

            Operating cash flows used in operating leases (1)
         
        $
        6,294

        $
        5,609

        $
        8,068

            Operating cash flows used in finance leases (1)

        37

        37

        55

            Financing cash flows used in finance leases

        256

        265

        262

       (1)Included in change in other operating assets and liabilities, net in the accompanying consolidated statements of cash flows. 

        December 31, 2024

        December 31, 2023

        Weighted Average Remaining Lease Term

        Operating leases