AIR INDUSTRIES GROUP Leases Disclosure
Note 9. OPERATING LEASE LIABILITIES
The Company has operating leases for leased office and manufacturing facilities. The leases have remaining lease terms of one to five years, some of which include options to extend or terminate the leases.
| Year Ended | ||||||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Operating lease cost: | $ | 1,044,000 | $ | 1,286,000 | ||||
| Total lease cost | $ | 1,044,000 | $ | 1,286,000 | ||||
| Other Information | ||||||||
| Cash paid for amounts included in the measurement lease liability: | 1,249,000 | 1,070,000 | ||||||
| Operating cash flow from operating leases | $ | 1,249,000 | $ | 1,070,000 | ||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| Weighted Average Remaining Lease Term - in years | 0.75 | 1.72 | ||||||
| Weighted Average discount rate - % | 9.50 | % | 9.36 | % | ||||
The aggregate undiscounted cash flows of operating lease payments, with remaining terms greater than one year are as follows:
| Amount | ||||
| December 31, 2026 | 730,000 | |||
| Total future minimum lease payments | 730,000 | |||
| Less: discount | (28,000 | ) | ||
| Total operating lease maturities | 702,000 | |||
| Less: current portion of operating lease liabilities | (702,000 | ) | ||
| Total long term portion of operating lease maturities | $ | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 27, 2026 | Showing above |
| 2024 | Apr 15, 2025 | |
| 2023 | Apr 15, 2024 | |
| 2022 | May 16, 2023 | |
| 2021 | Mar 25, 2022 | |
| 2020 | Mar 29, 2021 | |
| 2019 | Mar 27, 2020 | |
| 2015 | Apr 4, 2016 | |
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.