As of December 31, 2025, the Company was obligated under operating and finance lease agreements for certain office space and manufacturing facilities, manufacturing equipment, vehicles, information technology equipment and warehouse space. Our leases have remaining lease terms of 1 year to 29 years, some of which may include options to extend the lease for up to 10 years, and some of which may include options to terminate the leases within 1 year.

As of December 31, 2025 and 2024, the Company’s operating and financing lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheets as follows, together with certain supplemental balance sheet information:


(In thousands)	Classification	2025			2024
Assets
Right-of-use assets:
Operating lease	Right-of-use assets	90.2			62.5
Finance lease	Right-of-use assets	18.5			20.9
Total right-of-use assets		$	108.7		$	83.4
Liabilities
Short-term lease liability:
Operating lease	Other accrued liabilities	13.8			13.8
Finance lease	Other accrued liabilities	2.0			1.9
Total short-term lease liability		$	15.8		$	15.7
Long-term lease liability:
Operating leases	Long-term lease liability	81.6			53.7
Finance leases	Long-term lease liability	17.0			18.4
Total long-term lease liability		$	98.6		$	72.1
Total lease liabilities		$	114.4		$	87.8
Lease Term and Discount Rate
Weighted average remaining lease term (years) - Operating leases		9.9			7.8
Weighted average remaining lease term (years) - Finance leases		12.9			13.4
Weighted average discount rate - Operating leases		5.2		%	4.5		%
Weighted average discount rate - Finance leases		5.2		%	5.1		%

Expense for leases less than 12 months for the year ended December 31, 2025, 2024 and 2023 were not material. The components of lease expense for the year ended December 31, 2025, 2024 and 2023 are as follows:

The Company combines the amortization of the right-of-use assets and the change in the operating lease liability in the same line item in the Statement of Cash Flows. Other information related to the Company’s operating leases for the year ended December 31, 2025, 2024 and 2023 are as follows:


(In thousands)	2025		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows - Operating leases	$	18.4	$	18.9	$	18.5
Cash flows - Finance leases	2.4		2.7		2.2
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	46.0	$	22.3	$	6.2
Finance leases	1.8		1.5		8.8


(In thousands)	Operating leases		Finance leases
One year	$	18.9	$	2.7
Two years	17.5		2.7
Three years	13.2		2.7
Four years	9.5		2.0
Five years	7.4		1.9
Beyond five years	58.8		14.0
Total minimum lease payments	$	125.3	$	26.0
Less: Interest	(29.9)		7.0
Present value of lease liabilities	$	95.4	$	19.0