GREEN DOT CORPGDOT

GREEN DOT CORP Leases Disclosure

10-KFiled Mar 4, 20251 min read
Leases
Our leases consist of operating lease agreements principally related to our corporate and subsidiary office locations. Currently, we do not enter into any financing lease agreements. Our leases have remaining lease terms of less than 1 year to approximately 8 years, most of which generally include renewal options of varying terms.
Our total lease expense amounted to approximately $3.7 million, $3.7 million, and $4.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Our lease expense is generally based on fixed payments stated within the agreements. Any variable payments for non-lease components and other short term lease expenses are not considered material.
Additional Information
Additional information related to our right of use assets and related lease liabilities is as follows:
Year Ended December 31,
 202420232022
Cash paid for operating lease liabilities (in thousands)$3,736 $2,884 $7,871 
Weighted average remaining lease term (years)4.33.93.4
Weighted average discount rate3.9 %5.1 %4.9 %
Note 20—Leases (continued)
Maturities of our operating lease liabilities as of December 31, 2024 is as follows:
Operating Leases
(In thousands)
2025$2,803 
20263,268 
20273,200 
20281,671 
2029271 
Thereafter903 
Total12,116 
Less: imputed interest(1,059)
Total lease liabilities$11,057 
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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.

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