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Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | Leases We have various operating leases for office space, equipment, and fleet vehicles. In addition, we have various finance leases for computer hardware. Such lease agreements, which expire at various dates through 2035, are generally renewed or replaced by similar leases. The components of lease expense for the years ended December 31, 2024 and 2023 were as follows:
($ in thousands) |  | 2024 |  | 2023
Operating lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | $ | 8,413 |  |  | 7,409 |
Finance lease cost: |  |  |  |
Amortization of assets, included in Other insurance expenses on the Consolidated Statements of Income |  | 2,707 |  |  | 2,692 |
Interest on lease liabilities, included in Interest expense on the Consolidated Statements of Income |  | 234 |  |  | 66 |
Total finance lease cost |  | 2,941 |  |  | 2,758 |
Variable lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | 763 |  |  | 996 |
Short-term lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | $ | 294 |  |  | 411 |
The following table provides supplemental information regarding our operating and finance leases.
|  | December 31, 2024 |  | December 31, 2023
Weighted-average remaining lease term |  |  |  |  |
Operating leases |  | 6 |  | 7 | years
Finance leases |  | 2 |  | 2 |
Weighted-average discount rate |  |  |  |  |
Operating leases |  | 3.4 |  |  | 2.8 |  | %
Finance leases |  | 4.9 |  |  | 3.5 |  |
Operating and finance lease asset and liability balances are included within the following line items on the Consolidated Balance Sheets:
($ in thousands) |  | December 31, 2024 |  | December 31, 2023
Operating leases |  |  |  |
Other assets |  | $ | 45,072 |  |  | 41,256 |
Other liabilities |  | 47,732 |  |  | 43,675 |
Finance leases |  |  |  |
Property and equipment - at cost, net of accumulated depreciation and amortization |  | 6,173 |  |  | 2,605 |
Long-term debt |  | 6,282 |  |  | 2,636 |
The maturities of our lease liabilities at December 31, 2024 were as follows:
($ in thousands) |  | Finance Leases |  | Operating Leases |  | Total
Year ended December 31, |  |  |  |  |  |
2025 |  | $ | 2,957 |  |  | 9,675 |  |  | 12,632 |
2026 |  | 2,579 |  |  | 9,260 |  |  | 11,839 |
2027 |  | 973 |  |  | 8,408 |  |  | 9,381 |
2028 |  | 97 |  |  | 7,134 |  |  | 7,231 |
2029 |  | 62 |  |  | 6,764 |  |  | 6,826 |
Thereafter |  | — |  |  | 12,267 |  |  | 12,267 |
Total lease payments |  | 6,668 |  |  | 53,508 |  |  | 60,176 |
Less: imputed interest |  | 386 |  |  | 5,207 |  |  | 5,593 |
Less: leases that have not yet commenced |  | — |  |  | 569 |  |  | 569 |
Total lease liabilities |  | $ | 6,282 |  |  | 47,732 |  |  | 54,014 |
Refer to Note 4. "Statements of Cash Flows" in Item 8. "Financial Statements and Supplementary Data." of Form 10-K for supplemental cash and non-cash transactions included in the measurement of operating and finance lease liabilities.
Leases | Leases We have various operating leases for office space, equipment, and fleet vehicles. In addition, we have various finance leases for computer hardware. Such lease agreements, which expire at various dates through 2035, are generally renewed or replaced by similar leases. The components of lease expense for the years ended December 31, 2024 and 2023 were as follows:
($ in thousands) |  | 2024 |  | 2023
Operating lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | $ | 8,413 |  |  | 7,409 |
Finance lease cost: |  |  |  |
Amortization of assets, included in Other insurance expenses on the Consolidated Statements of Income |  | 2,707 |  |  | 2,692 |
Interest on lease liabilities, included in Interest expense on the Consolidated Statements of Income |  | 234 |  |  | 66 |
Total finance lease cost |  | 2,941 |  |  | 2,758 |
Variable lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | 763 |  |  | 996 |
Short-term lease cost, included in Other insurance expenses on the Consolidated Statements of Income |  | $ | 294 |  |  | 411 |
The following table provides supplemental information regarding our operating and finance leases.
|  | December 31, 2024 |  | December 31, 2023
Weighted-average remaining lease term |  |  |  |  |
Operating leases |  | 6 |  | 7 | years
Finance leases |  | 2 |  | 2 |
Weighted-average discount rate |  |  |  |  |
Operating leases |  | 3.4 |  |  | 2.8 |  | %
Finance leases |  | 4.9 |  |  | 3.5 |  |
Operating and finance lease asset and liability balances are included within the following line items on the Consolidated Balance Sheets:
($ in thousands) |  | December 31, 2024 |  | December 31, 2023
Operating leases |  |  |  |
Other assets |  | $ | 45,072 |  |  | 41,256 |
Other liabilities |  | 47,732 |  |  | 43,675 |
Finance leases |  |  |  |
Property and equipment - at cost, net of accumulated depreciation and amortization |  | 6,173 |  |  | 2,605 |
Long-term debt |  | 6,282 |  |  | 2,636 |
The maturities of our lease liabilities at December 31, 2024 were as follows:
($ in thousands) |  | Finance Leases |  | Operating Leases |  | Total
Year ended December 31, |  |  |  |  |  |
2025 |  | $ | 2,957 |  |  | 9,675 |  |  | 12,632 |
2026 |  | 2,579 |  |  | 9,260 |  |  | 11,839 |
2027 |  | 973 |  |  | 8,408 |  |  | 9,381 |
2028 |  | 97 |  |  | 7,134 |  |  | 7,231 |
2029 |  | 62 |  |  | 6,764 |  |  | 6,826 |
Thereafter |  | — |  |  | 12,267 |  |  | 12,267 |
Total lease payments |  | 6,668 |  |  | 53,508 |  |  | 60,176 |
Less: imputed interest |  | 386 |  |  | 5,207 |  |  | 5,593 |
Less: leases that have not yet commenced |  | — |  |  | 569 |  |  | 569 |
Total lease liabilities |  | $ | 6,282 |  |  | 47,732 |  |  | 54,014 |
Refer to Note 4. "Statements of Cash Flows" in Item 8. "Financial Statements and Supplementary Data." of Form 10-K for supplemental cash and non-cash transactions included in the measurement of operating and finance lease liabilities.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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