NATURAL GAS SERVICES GROUP INC

7. Leases

Our operating leases are primarily related to property leases for field offices and office equipment. Our operating leases have remaining lease terms ofone tofive years. Renewal and termination options are included in the lease term when it is reasonably certain that we will exercise the option. Our finance leases were primarily related to vehicles used in our rental business; however, we terminated all such leases during 2024 and purchased the vehicles and recorded them in property and equipment. Prior to their termination, our finance leases generally had lease terms ofthree years. Our lease agreements do not contain any contingent rental payments, material residual guarantees or material restrictive covenants.

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The following table reflects the amounts related to leases that are recorded on our Consolidated Balance Sheets as of the dates presented:

Operating lease costs are recognized on a straight-line basis over the lease term. Total operating lease costs for the years ended December 31, 2024,2023 and 2022 were approximately$0.7 million, $0.5 million and $0.4 million, respectively.

The following table summarizes the cash paid for amounts included in the measurement of liabilities included in our Consolidated Statements of Cash Flows for the periods presented:

(1) Lease costs are classified in the Consolidated Statements of Operations within cost of revenues and selling, general and administrative expenses.

(2) Includes costs of $0.1 million, $0.3 million and $0.2 million for leases with terms of 12 months or less and $0.6 million, $0.2 million and $0.2 million for leases with terms greater than 12 months for the years ended December 31, 2024, 2023 and 2022, respectively.

The following summarizes the future maturities of our lease liabilities for the periods presented:

Rent expense under such leases was $0.6 million, $0.2 million and $0.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.

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8. Intangible Assets

In connection with our acquisition of Screw Compression Systems (“SCS”) in January 2005, we acquired certain intangible assets attributable to developed technology and the SCS trade name. Amortization expense attributable to the developed technology recognized in each of the years ending December 31, 2024, 2023 and 2022 was $0.1 million and the asset is fully amortized as of December 31, 2024. During 2024, we fully impaired the trade name intangible asset as we are no longer marketing the associated technology. There wereno impairments of these intangible assets during the years ended December 31, 2023 or 2022.

The following table summarizes our intangible assets by major asset class as of the dates presented: