Company: EME
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000105634-25-000015
Chunk: 146

Company: EMCOR Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 146
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1)Short-term lease expense includes both leases and rentals with initial terms of one year or less and predominantly represents equipment used on construction projects.Sublease rental income was approximately $4.6 million, $6.7 million, and $3.8 million for the years ended December 31, 2024, 2023, and 2022, respectively.Lease Term and Discount Rate The following table presents certain information related to the lease terms and discount rates for our leases as of December 31, 2024 and 2023:December 31,2024December 31,2023Weighted-average remaining lease term:Operating leases5.1 years5.7 yearsFinance leases3.4 years2.9 yearsWeighted-average discount rate:Operating leases4.43 %4.11 %Finance leases4.67 %3.57 %Other InformationThe following table presents supplemental cash flow information related to our leases for the years ended December 31, 2024, 2023, and 2022 (in thousands):202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows used for operating leases$101,611 $90,412 $74,927 Operating cash flows used for finance leases$254 $175 $178 Financing cash flows used for finance leases$2,855 $2,776 $3,551 Right-of-use assets obtained in exchange for new operating lease liabilities$94,538 $125,417 $75,027 Right-of-use assets obtained in exchange for new finance lease liabilities$3,412 $1,427 $2,209 

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Table of ContentsEMCOR Group, Inc. and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 16 - LEASES (Continued)Maturity of Lease LiabilitiesThe following table reconciles our future minimum lease payments on an undiscounted cash flow basis to our lease liabilities reported in the Consolidated Balance Sheet as of December 31, 2024 (in thousands):Operating LeasesFinance   Leases2025$94,462 $2,475 202679,015 1,760 202764,443 1,157 202850,760 759 202939,646 325 Thereafter55,218 125 Total minimum lease payments383,544 6,601 Less: