Company: GPOR
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001628280-25-008043
Chunk: 268

Company: GULFPORT ENERGY CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 7A
Chunk 268
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 uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company's incremental borrowing rate reflects the estimated rate of interest that it would pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Future amounts due under operating lease liabilities as of December 31, 2024, were as follows (in thousands):2025$5,657 2026561 202710 2028— 2029— Total lease payments$6,228 Less: imputed interest(129)Total$6,099 

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Table of ContentsIndex to Financial Statements

Lease costs incurred for the years ended December 31, 2024 and 2023 consisted of the following (in thousands):Year Ended December 31, 2024Year Ended December 31, 2023Operating lease cost$12,828 $13,752 Variable lease cost— — Short-term lease cost26,817 28,691 Total lease cost(1)$39,645 $42,443 _____________________(1)    The majority of the Company's total lease cost was capitalized to the full cost pool, and the remainder was included in either lease operating expenses or general and administrative expenses in the accompanying consolidated statements of operations.The weighted-average remaining lease term as of December 31, 2024, was 0.76 years. The weighted-average discount rate used to determine the operating lease liability as of December 31, 2024, was 6.25%.

10.INCOME TAXES

Details of income tax provisions and deferred income taxes from continuing operations are provided in the following tables.The components of income tax benefits were as follows (in thousands):Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Current:State$— $— $— Federal— — — Deferred:State11,747 (26,704)— Federal(67,824)(498,452)— Total income tax benefit provision$(56,077)$(525,156)$— A reconciliation of the statutory federal income tax amount to the recorded benefit follows (in thousands):Year Ended December 31, 2024Year Ended December 31, 2023Year Ended December 31, 2022Income (loss) before federal income taxes$(317,463)$