AMPCO PITTSBURGH CORP Leases Disclosure
NOTE 11 – OPERATING LEASE LIABILITIES:
The current and noncurrent portions of the Corporation’s operating lease arrangements as of December 31, 2025 and 2024 were as follows:
|
|
2025 |
|
|
2024 |
|
||
Operating lease liabilities – current portion |
|
$ |
946 |
|
|
$ |
878 |
|
Noncurrent operating lease liabilities |
|
|
3,727 |
|
|
|
3,714 |
|
Total operating lease liabilities |
|
$ |
4,673 |
|
|
$ |
4,592 |
|
Future operating lease payments as of December 31, 2025 were as follows:
2026 |
|
$ |
961 |
|
2027 |
|
|
844 |
|
2028 |
|
|
753 |
|
2029 |
|
|
704 |
|
2030 |
|
|
235 |
|
2031 and thereafter |
|
|
2,984 |
|
Total undiscounted payments |
|
|
6,481 |
|
Less: amount representing interest |
|
|
(1,808 |
) |
Present value of net minimum lease payments |
|
$ |
4,673 |
|
At December 31, 2025 and 2024, the weighted-average remaining lease term approximated 5.50 years and 6.18 years, respectively, and the weighted-average discount rate approximated 5.89% and 5.84%, respectively.
Short-term lease costs for leases with an original maturity of less than one year were $478 and $564 for the years ended December 31, 2025 and 2024, respectively. In addition, operating lease costs with an original maturity of one year or more were $1,362 and $1,105 for the years ended December 31, 2025 and 2024, respectively, and were classified as operating cash flows in the consolidated statements of cash flows.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 16, 2026 | Showing above |
| 2024 | Mar 17, 2025 | |
| 2023 | Mar 25, 2024 | |
| 2022 | Mar 21, 2023 | |
| 2021 | Mar 17, 2022 | |
| 2020 | Mar 26, 2021 | |
| 2019 | Mar 16, 2020 | |
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.