The Partnership enters into lease arrangements primarily for office facilities, equipment, and vehicles used in construction operations. The Partnership’s lease portfolio consists of both operating and finance leases with varying terms, generally ranging from one to ten years. Lease agreements for office and yard facilities are typically operating leases, while equipment and vehicle leases are generally classified as finance leases. Operating lease costs include $0.1 million and less than $0.1 million of variable lease costs for the three months ended March 31, 2026 and March 31, 2025, respectively.

Lease cost is as follows (in thousands):


	For the three months ended March 31, 2026		For the three months ended March 31, 2025
Operating lease cost	$	323	$	377
Finance lease cost		277		650
	$	600	$	1,027

Cash paid for amounts included in the measurement of lease obligations are as follows (in thousands):


	For the three months ended March 31, 2026		For the three months ended March 31, 2025
Operating leases	$	349	$	416
Finance leases		296		747
	$	645	$	1,163

Additional lease information is as follows:


	As of March 31, 2026			As of December 31, 2025
Weighted-average remaining lease term - operating leases		2.45			2.80
Weighted-average remaining lease term - finance leases		1.12			1.37
Weighted-average discount rate - operating leases		5.15	%		4.95	%
Weighted-average discount rate - finance leases		9.26	%		8.03	%

The aggregate annual lease obligations as of March 31, 2026 are as follows (in thousands):


	Operating Leases			Finance Leases
Remaining nine months of 2026	$	897		$	1,314
2027		322			3,112
2028		479			—
2029		—			—
2030		—			—
Thereafter		—			—
		1,698			4,426
Less imputed interest		(105	)		(355	)
Net lease obligation	$	1,593		$	4,071