Company: NWBI
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0001471265-25-000016
Chunk: 148

Company: Northwest Bancshares, Inc.
Filing Date: 2025-02-25
Form: 10-K
Item: Item 1B
Chunk 148
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280): Improvements to Reportable Segment Disclosures” to improve disclosure requirements, primarily through enhanced disclosures about significant segment expenses. This update requires that an entity that has a single reportable segment, such as the Company, to provide all the disclosures required by this update. The amendments in this update require annual and interim disclosures on significant segment expenses that are regularly provided to the chief operating decision maker to make operating decisions and to allocate resources. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. A public entity should apply the amendments in this update retrospectively to all prior periods presented in the consolidated financial statements with early adoption permitted. This guidance was adopted for the year ended December 31, 2024 and did not have a material impact on the Company’s financial statements.  

(3)    Leases

Lease expense for these leases is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. The components of lease cost recognized within our Consolidated Statements of Income were as follows: For the years ended December 31, 202420232022Operating lease costs (office operations)$6,902 6,5296,201Variable lease costs (office operations)716 863677Total operating lease costs$7,618 7,3926,878Amounts reported in the Consolidated Statements of Financial Condition were as follows:For the years ended December 31,20242023Operating leases:Operating lease ROU assets (other assets)$46,204 61,727Operating lease liabilities (other liabilities)49,973 64,723 

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Table of ContentsNORTHWEST BANCSHARES, INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTSDecember 31, 2024, 2023 and 2022

Other information related to leases were as follows:For the years ended December 31,20242023Supplemental cash flow information   Cash paid for amounts included in the measurement of lease liabilities:   Operating cash flow from operating leases$6,182 5,941   ROU assets obtained in exchange for lease obligations1,00213,736   Weighted average remaining lease term12.9 years16.6 years   Weighted average discount rate4.6 %4.2 %