Kinetik Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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10. Leases F-
- LEASES
Components of lease costs are presented on the Consolidated Statements of Operations as “General and administrative expense” for real-estate leases and operating expense for non-real estate leases. Total operating lease cost for the years ended December 31, 2024, 2023 and 2022 were $38.7 million, $45.6 million, and $37.7 million, respectively. Short-term lease cost for the years ended December 31, 2024, 2023 and 2022 were $7.7 million, $3.4 million, and $6.2 million, respectively.
The following table presents other supplemental lease information:
| Year Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| (In thousands) | ||
| Operating cash flows from operating leases | $39,247 | $45,366 |
| Right-of-use assets obtained in exchange for new operating lease liabilities | $43,682 | $5,189 |
| Weighted-average remaining lease term — operating leases (in years) | 1.85 | 1.51 |
| Weighted-average discount rate — operating leases | 6.82% | 8.76% |
The following table presents future minimum lease payments under operating leases:
| Fiscal Year | Amount |
|---|---|
| (In thousands) | |
| 2025 | $19,702 |
| 2026 | 7,978 |
| 2027 | 2,691 |
| 2028 | 812 |
| 2029 | 695 |
| Thereafter | 48 |
| Total lease payments | 31,926 |
| Less: interest | (1,735) |
| Present value of lease liabilities | $30,191 |
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