BEASLEY BROADCAST GROUP INC Leases Disclosure
The Company leases office space, towers and office equipment. Discount rates are based on the Company’s incremental borrowing rate due to the rate implicit in the leases being not readily determinable. The Company used the current borrowing rate on its credit facility, adjusted for the effects of collateralization, to determine the various rates it would pay to finance similar transactions over similar time periods.
The following table summarizes lease information:
|
|
Year ended December 31, |
|
|||||
|
|
2024 |
|
|
2025 |
|
||
Lease cost |
|
|
|
|
|
|
||
Operating lease cost |
|
$ |
11,452,668 |
|
|
$ |
11,250,941 |
|
Short-term lease cost |
|
|
20,760 |
|
|
|
— |
|
Total lease cost |
|
$ |
11,473,428 |
|
|
$ |
11,250,941 |
|
|
|
|
|
|
|
|
||
Other information |
|
|
|
|
|
|
||
Operating cash flows from operating leases |
|
$ |
12,015,198 |
|
|
$ |
12,027,376 |
|
Right-of-use assets obtained in exchange for new operating lease |
|
|
6,685,102 |
|
|
|
3,982,997 |
|
|
|
December 31, |
|
|
|
|
2025 |
|
|
Weighted-average remaining lease term – operating leases |
|
6.3 |
|
|
Weighted-average discount rate – operating leases |
|
|
9.3 |
% |
As of December 31, 2025, future minimum payments for operating leases for the next five years and thereafter are summarized as follows:
2026 |
|
$ |
11,736,001 |
|
2027 |
|
|
10,129,167 |
|
2028 |
|
|
8,640,392 |
|
2029 |
|
|
7,329,624 |
|
2030 |
|
|
5,205,295 |
|
Thereafter |
|
|
15,044,028 |
|
Total lease payments |
|
|
58,084,507 |
|
Less imputed interest |
|
|
(25,476,362 |
) |
Present value of operating lease liabilities |
|
|
32,608,145 |
|
Operating lease liabilities - current |
|
|
(6,972,790 |
) |
Operating lease liabilities - long-term |
|
$ |
25,635,355 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Apr 8, 2026 | Showing above |
| 2024 | Mar 26, 2025 | |
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.