Other Liabilities

9 Months Ended

Sep. 30, 2025

Note 14 – Other Liabilities

Other liabilities are summarized as follows:



	September 30,		December 31,
(Dollars in thousands)	2025		2024
Current liabilities
Lease liability	$	5,900	$	5,900
Accrued pension		496		500
Security deposit payable		146		117
Finance lease liabilities		11		43
Other		34		33
Other current liabilities	$	6,587	$	6,593
Other liabilities
Lease make-good provision		6,170		5,908
Accrued pension		1,908		2,312
Deferred rent liability		3,833		3,786
Environmental reserve		1,656		1,656
Other non-current liabilities	$	13,567	$	13,662

Pension Liability – Supplemental Executive Retirement Plan

Details of our Supplemental Executive Retirement Plan are disclosed in Note 14 – Pension and Other Liabilities in our 2024 Form 10-K.

Included in our current and non-current liabilities are accrued pension costs of $2.4 million on September 30, 2025. The benefits of our pension plan are fully vested and therefore no service costs were recognized for the quarter and nine months ended September 30, 2025, and 2024. Our pension plan is unfunded.

During the quarter and nine months ended September 30, 2025, the interest cost was $33,000 and $106,000, respectively, and the actuarial loss was $52,000 and $155,000, respectively. During the quarter and nine months ended September 30, 2024, the interest cost was $40,000 and $126,000, respectively, and the actuarial loss was $52,000 and $156,000, respectively.