Leases (Tables)

9 Months Ended

Sep. 30, 2025

Additional information regarding the Company’s leases are as follows:

	As of and For the Three Months Ended September 30,				As of and For the Nine Months Ended September 30,
	2025		2024		2025		2024
Operating lease expense	$	91	$	96	$	274	$	288
Finance lease cost
Amortization of right-of-use assets		20		20		60		60
Interest on lease liabilities		3		5		10		17
Finance lease cost		23		25		70		77
Total lease cost	$	114	$	121	$	344	$	365

Other information on leases:
Cash payments included in operating cash flows from operating leases	$	98	$	102	$	293	$	306
Cash payments included in operating cash flows from finance leases		3		5		10		17
Cash payments included in financing cash flows from finance leases		27		25		80		73
Right-of-use assets obtained in exchange for new operating lease liabilities		—		—		—		185
Right-of-use assets obtained in exchange for new finance lease liabilities		—		—		—		—
Weighted average discount rate – operating leases		4.45%		4.48%		4.45%		4.48%
Weighted average discount rate – finance leases		8.50%		8.50%		8.50%		8.50%
Weighted average remaining lease term in years – operating leases		3.7 years		4.7 years		3.7 years		4.7 years
Weighted average remaining lease term in years – finance leases		1.1 years		2.1 years		1.1 years		2.1 years

Schedule of Contractual Maturities of Lease Liabilities

The following table presents the contractual maturities of the Company’s lease liabilities for each of the five years in the period ending December 31, 2029, and thereafter, reconciled to our lease liability at September 30, 2025:

Year ending December 31,	Operating Leases		Finance Leases		Total
2025 (three months remaining)	$	100	$	30	$	130
2026		396		100		496
2027		401		—		401
2028		376		—		376
2029		212		—		212
Thereafter		—		—		—
Total undiscounted lease payments		1,485		130		1,615
Less: present value adjustment		111		5		116
Lease liability at September 30, 2025	$	1,374	$	125	$	1,499

NI Holdings, Inc. 10-Q