Company: ATLCL
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015559
Chunk: 26

Company: Atlanticus Holdings Corp
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 26
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 18

    8.  Leases 

   We have operating leases primarily associated with our corporate offices and regional service centers as well as for certain equipment. Our leases have remaining lease terms of 1 to 10 years, some of which include options, at our discretion, to extend the leases for additional periods generally on one-year revolving periods. Other leases allow for us to terminate the lease based on appropriate notification periods. For certain of our leased offices, we sublease a portion of the unoccupied space. The components of lease expense associated with our lease liabilities and supplemental cash flow information related to those leases were as follows (dollar amounts in thousands):

       For the Three Months Ended March 31,  
   2025    2024  
 Operating lease cost, gross  $782  $627 
 Sublease income   (24)  (24)
 Net Operating lease cost  $758  $603 
 Cash paid under operating leases, gross  $762  $747 
         
 Weighted average remaining lease term - months   108   119 
 Weighted average discount rate   7.1%  6.6%

   As of  March 31, 2025, scheduled payments of lease liabilities were as follows (in thousands):
   
       Gross Lease Payment    Payments received from Sublease    Net Lease Payment  
 2025 (Remainder of 2025)  $2,320  $(75) $2,245 
 2026   3,792   (42)  3,750 
 2027   3,680   —   3,680 
 2028   3,583   —   3,583 
 2029   3,466   —   3,466 
 Thereafter   16,704   —   16,704 
 Total lease payments   33,545   (117)  33,428 
 Less imputed interest   (9,400)        
 Operating lease liabilities  $24,145         

   In  August 2021, we entered into an operating lease agreement for our corporate headquarters in Atlanta, Georgia (the "Headquarters lease") with an unaffiliated third party. This Headquarters lease initially covered approximately 73,000 square feet and commenced in  June 2022 for a 146