| LEASES |
NOTE 9 — LEASES The table below summarizes the right-of-use assets and lease liabilities in the Company’s Condensed Consolidated Balance Sheets: | | | | | | | | | Operating Leases | | Balance Sheet Classification | | June 30, 2026 | | December 31, 2025 | Right-of-use assets | | Other assets | | $ | 51,719 | | $ | 52,989 | | | | | | | | | | Current liabilities | | Other current liabilities | | $ | 14,212 | | $ | 13,460 | Noncurrent liabilities | | Other liabilities | | | 37,852 | | | 40,061 | Total lease liabilities | | | | $ | 52,064 | | $ | 53,521 |
The total future minimum lease payments for noncancelable operating leases were as follows: | | | | | | June 30, 2026 | 2026 | | $ | 9,544 | 2027 | | | 14,273 | 2028 | | | 12,229 | 2029 | | | 8,134 | 2030 | | | 4,063 | After 2030 | | | 10,697 | Total lease payments | | $ | 58,940 | Less: Imputed interest | | | 6,876 | Operating lease liabilities | | $ | 52,064 |
As of June 30, 2026 the weighted average remaining lease term is 5.7 years and the weighted average discount rate used to determine the operating lease liability is 3.8%. Other information related to leases was as follows: | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | | June 30, | | June 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Lease expense (1) | | $ | 8,117 | | $ | 6,444 | | $ | 14,741 | | $ | 12,334 | | Cash paid for amounts included in the measurement of lease liabilities (2) | | | 4,308 | | | 3,990 | | | 8,979 | | | 6,542 | | Right-of-use assets obtained in exchange for operating lease liabilities | | | 4,554 | | | 4,399 | | | 6,070 | | | 4,653 | |
| (1) | Amounts are included in Costs of goods sold and Selling, general and administrative expenses in the Company’s Consolidated Statement of Income. |
| (2) | Amounts are included in Net Cash Provided by Operating Activities in the Company’s Consolidated Statement of Cash Flows. |
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