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Leases
9 Months Ended
Sep. 30, 2024
Leases  
Leases

Note 14: Leases

 

The Company determines whether a contract is or contains a lease at inception of the contract and whether that lease meets the classification criteria of a finance or operating lease. When available, the Company uses the rate implicit in the lease to discount lease payments to present value; the Company’s leases do not provide a readily determinable implicit rate. Therefore, the Company must discount lease payments based on an estimate of its incremental borrowing rate.

 

There are no lease-related assets and liabilities recorded on the Company’s balance sheet and the Company has no lease expenses.