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| Leases | Note 13. Leases BTI leases office space for its corporate headquarters at 555 Long Wharf Drive, New Haven, Connecticut (the “HQ Lease”) under an operating lease that expires in February 2026. The Company has an option to renew the HQ Lease for one additional five-year term. Payments under the HQ Lease are fixed. The Company also leases equipment such as copiers and information technology equipment. The future minimum annual lease payments under operating leases, as of June 30, 2025, are as follows:
The current portion of the Company’s operating lease liability of $256 as of June 30, 2025, is included in on the Condensed Consolidated Balance Sheets. Lease expense was $101 and $99 for the three months ended June 30, 2025 and 2024, respectively, and $202 and $198 for the six months ended June 30, 2025 and 2024, respectively. Lease renewal options are not included in the ROU asset or lease liability. |
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