XML 34 R18.htm IDEA: XBRL DOCUMENT v3.22.4
OPERATING LEASES
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Operating Leases - Lessor Operating Leases - Lessor
First Financial provides financing for various types of equipment through a operating leasing arrangements. Operating leases are carried at cost less accumulated depreciation in the Consolidated Balance Sheets. Operating leases were $91.7 million and $60.8 million at December 31, 2022 and December 31, 2021, respectively, net of accumulated depreciation of $35.0 million and $25.5 million at December 31, 2022 and December 31, 2021, respectively. The Company recorded lease income of $24.5 million related to lease payments for operating leases in leasing business income in the Consolidated Statement of Income for the twelve months ended December 31, 2022, respectively. Depreciation expense related to operating lease equipment was $20.4 million for the twelve months ended December 31, 2022, respectively.

First Financial performs assessments of the recoverability of long-lived assets when events or changes in circumstances indicate that their carrying values may not be recoverable. First Financial recognized no impairment losses associated with operating lease assets for the twelve months ended December 31, 2022. Recognized impairment losses, if any, would be recorded in Leasing business income in the Consolidated Statements of Income.
The future lease payments receivable from operating leases as of December 31, 2022 are as follows:
(Dollars in thousands)Undiscounted cash flows
2023$27,334 
202421,422 
202513,149 
20267,122 
20271,912 
Thereafter1,271 
Total operating lease payments$72,210