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Leases

12 Months Ended

Dec. 31, 2024

11. Leases

In our consolidated financial statements, we have recognized the right-of-use assets and lease liabilities and related expense of leases that were transferred to ZimVie at the closing of the distribution. For leases that we shared with Zimmer Biomet prior to the distribution and remained the responsibility of Zimmer Biomet following the distribution, no assets nor liabilities have been recognized on our consolidated balance sheets and any lease expense has been included in allocated costs from Zimmer Biomet.

Information on our leases is as follows ($ in thousands):


	For the Years Ended December 31,
	2024		2023		2022
Lease cost	$	4,407	$	4,517	$	4,345
Cash paid for leases recognized in operating cash flows		4,496		4,632		4,322
Right-of-use assets obtained in exchange for new lease liabilities		3,654		7,800		2,105


	As of December 31,
	2024			2023
Right-of-use assets recognized in Other assets	$	10,620		$	11,076
Lease liabilities recognized in Other current liabilities		3,902			4,053
Long-term lease liabilities		8,218			9,080
Weighted-average remaining lease term	4.9 years			3.6 years
Weighted-average discount rate		4.1	%		3.5	%

Our future minimum lease payments as of December 31, 2024 were (in millions):


For the Years Ending December 31,
2025	$	4.2
2026		3.3
2027		2.3
2028		1.5
2029		1.1
Thereafter		1.0
Total		13.5
Less imputed interest		(1.3	)
Total	$	12.1