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Leases

3 Months Ended

Mar. 31, 2025

Note 18—Leases

Lessor Accounting

The Company leases fueling station equipment to customers pursuant to agreements that contain an option to extend and an end-of-term purchase option. Receivables from these leases are accounted for as finance leases, specifically

sales-type leases, and are included in “Other receivables” and “Notes receivable and other long-term assets, net” in the accompanying condensed consolidated balance sheets.

The Company recognizes the net investment in the lease as the sum of the lease receivable and the unguaranteed residual value, both of which are measured at the present value using the interest rate implicit in the lease.

During each of the three months ended March 31, 2024 and 2025, the Company recognized $0.1 million in “Interest income” on its lease receivables.

The following schedule represents the Company’s maturities of lease receivables as of March 31, 2025 (in thousands):


Fiscal Year:
Remainder of 2025	$	948
2026		1,287
2027		1,408
2028		692
2029		522
Thereafter		181
Total minimum lease payments		5,038
Less amount representing interest		(918)
Present value of lease receivables	$	4,120