Company: BOH
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0000950170-25-031193
Chunk: 204

Company: BANK OF HAWAII CORP
Filing Date: 2025-03-04
Form: 10-K
Item: Item 7
Chunk 204
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 used to estimate the net periodic benefit cost for the following year. Table 15 presents a sensitivity analysis of a 25 basis point change in discount rates to the pension and postretirement benefit plan’s net periodic benefit cost and benefit obligations:

    Discount Rate Sensitivity Analysis

    Table 15

    Impact of

    BaseDiscount Rate

    Discount Rate25 Basis Point Increase

    Discount Rate25 Basis Point Decrease

    (dollars in thousands)
     
    Pension Benefits

    Postretirement Benefits

    Pension Benefits

    Postretirement Benefits

    Pension Benefits

    Postretirement Benefits

    2024 Net Periodic Benefit Cost

    5.44
    %

    5.51
    %
     
    $
    18

    $
    (52
    )
     
    $
    (23
    )
     
    $
    52

    Benefit Plan Obligations as of December 31, 2024

    5.67
    %

    5.74
    %

    (1,412
    )

    (569
    )

    1,440

    583

    Estimated 2025 Net Periodic Benefit Cost

    5.67
    %

    5.74
    %

    16

    (49
    )

    (20
    )

    49

See Note 14 in Item 8. “Notes to the Consolidated Financial Statements” for more information on our pension and postretirement benefit plans.

Contractual Obligations

The Company has various contractual obligations that affect its cash flows and liquidity. Our non-cancelable operating leases and finance lease obligations are primarily related to branch premises, equipment, and a portion of the Company’s headquarters’ building with lease terms extending through 2052. Purchase obligations arise from agreements to purchase goods or services that 

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are enforceable and legally binding. Other contracts included in purchase obligations primarily consist of service agreements for various systems and applications supporting bank operations. Pension and postretirement benefit contributions represent the minimum expected contribution to the unfunded non-qualified pension plan and postretirement benefit plan. Actual contributions may differ from these estimates. Additional information regarding material contractual obligations is presented in Notes 9, 14, 18, 20 and 23 in Item 8. “Notes to Consolidated Financial Statements.”

Foreign Activities

Cross-border outstandings are defined as loans (including accrued interest), acceptances, interest