Jefferson Capital, Inc. / DE Leases Disclosure
9.Leases
The Company enters into leases as a lessee for data centers, office space, and technology equipment. Lease expense associated with these arrangements are included in other selling, general and administrative expenses in the Company’s combined and consolidated statements of operations.
The components of lease expense for the year ended December 31, 2025, 2024 and 2023, are presented as follows (in thousands):
For the Year Ended December 31, | |||||||||
| 2025 | | 2024 | | 2023 | ||||
Operating lease costs | $ | 2,173 | $ | 1,587 | $ | 1,489 | |||
Total lease costs | $ | 2,173 | $ | 1,587 | $ | 1,489 | |||
The following table provides supplemental combined and consolidated balance sheet information related to leases as of December 31, 2025, and December 31, 2024 (in thousands, except lease term and discount rate):
As of December 31, | As of December 31, | ||||||||
| Classification | | 2025 | | 2024 | | |||
Assets | |||||||||
Other assets | $ | 3,658 | $ | 4,449 | |||||
Total lease right-of-use assets | $ | 3,658 | $ | 4,449 | |||||
Liabilities | |||||||||
Other liabilities | $ | 4,179 | $ | 4,860 | |||||
Total lease liabilities | $ | 4,179 | $ | 4,860 | |||||
Weighted-average remaining lease term (in years) | 4.8 | 5.5 | |||||||
Weighted-average discount rate | 7.6 | % | 7.5 | % | |||||
Minimum future payments on non-cancellable operating leases as of December 31, 2025, are summarized as follows (in thousands):
| Operating Leases | ||
2026 | $ | 1,277 | |
2027 | 1,208 | ||
2028 | 821 | ||
2029 | 553 | ||
2030 | 522 | ||
Thereafter | 642 | ||
Total undiscounted lease payments | 5,023 | ||
Less: imputed interest | (844) | ||
Lease obligations under operating leases | $ | 4,179 | |
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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.