Leases (Tables)

3 Months Ended

Mar. 31, 2025

The following table provides details of our lease contracts for the three-month periods ended March 31, 2025 and 2024 (in thousands):


	Three Months Ended March 31,
		2025		2024
Operating lease cost		$	8,732	$	9,546
Finance lease cost:
Amortization of right of use assets		1,998		1,308
Interest on lease liabilities		1,619		1,459
Total finance lease cost		3,617		2,767

Short-term lease cost		6,166		6,018
Variable lease cost		8,416		7,797


Total lease cost		$	26,931	$	26,128

Supplemental cash flow information related to our lease contracts for the three-month periods ended March 31, 2025 and 2024 is as follows (in thousands):


	Three Months Ended March 31,
	2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,386	$	8,848
Operating cash flows from finance leases	1,615		1,018
Financing cash flows from finance leases	1,195		560
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	9,896		8,856

Supplemental Balance Sheet Information related to Leases

Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at March 31, 2025 and December 31, 2024 is as follows (in thousands, except as noted):


	March 31, 2025			December 31, 2024
Operating leases:
Other assets	$	122,244		$	118,839

Accrued expenses	33,357			32,626
Other noncurrent liabilities	101,349			99,514
Total operating lease liabilities	134,706			132,140
Finance leases:
Net property, plant and equipment	115,304			117,038

Current portion of long-term debt	5,283			5,183
Long-term debt	112,589			113,613
Total finance lease liabilities	117,872			118,796
Weighted average remaining lease term (in years):
Operating leases	12.5			12.9
Finance leases	20.2			20.4
Weighted average discount rate (%):
Operating leases	4.55		%	4.47		%
Finance leases	5.55		%	5.55		%

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities at March 31, 2025 were as follows (in thousands):


	Operating Leases		Finance Leases
Remainder of 2025	$	26,068	$	9,149
2026	26,603		11,338
2027	21,032		11,269
2028	15,615		11,131
2029	13,731		11,131
Thereafter	94,841		134,007
Total lease payments	197,890		188,025
Less imputed interest	63,184		70,153
Total	$	134,706	$	117,872

Finance Lease, Liability, Maturity

Maturities of lease liabilities at March 31, 2025 were as follows (in thousands):


	Operating Leases		Finance Leases
Remainder of 2025	$	26,068	$	9,149
2026	26,603		11,338
2027	21,032		11,269
2028	15,615		11,131
2029	13,731		11,131
Thereafter	94,841		134,007
Total lease payments	197,890		188,025
Less imputed interest	63,184		70,153
Total	$	134,706	$	117,872