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Leases, Codification Topic 842 | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases | Leases We have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have entered into finance leases for one of our production facilities and certain plant equipment. Our leases have remaining lease terms of up to 16.7 years, some of which include options to extend the leases for up to 20 years, and some of which include options to terminate the lease. See Note 1 herein for additional information regarding leases. The components of lease expense were as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Lease expense |  |  |  |  |  |
Operating lease expense |  | $ | 37,262 |  |  | $ | 34,467 |  |  | $ | 31,923 |
Finance lease expense: |  |  |  |  |  |
Amortization of ROU assets |  | 2,059 |  |  | 1,916 |  |  | 1,798 |
Interest on lease liabilities |  | 421 |  |  | 417 |  |  | 429 |
Short-term lease expense |  | 30,607 |  |  | 27,584 |  |  | 24,012 |
Total lease expense |  | $ | 70,349 |  |  | $ | 64,384 |  |  | $ | 58,162 |
Other information related to leases was as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022
Supplemental Cash Flows Information: |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 29,044 |  |  | $ | 28,837 |
Operating cash flows from finance leases |  | $ | 421 |  |  | $ | 417 |
Financing cash flows from finance leases |  | $ | 1,661 |  |  | $ | 1,495 |
ROU assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 34,100 |  |  | $ | 44,782 |
Finance leases |  | $ | 1,624 |  |  | $ | 1,083 |
Weighted-average remaining lease term (in years): |  |  |  |
Operating leases |  | 5.8 |  | 6.0
Finance leases |  | 9.9 |  | 10.8
Weighted-average discount rate: |  |  |  |
Operating leases |  | 4.2 | % |  | 3.6 | %
Finance leases |  | 3.1 | % |  | 2.9 | %
We are committed under multiple non-cancelable operating and finance leases involving office space, model homes, production facilities, automobiles and equipment. Future lease payments under these operating and finance leases as of December 31, 2023 are as follows:
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2024 |  | $ | 36,636 |  |  | $ | 2,303 |
2025 |  | 22,974 |  |  | 2,308 |
2026 |  | 17,354 |  |  | 3,256 |
2027 |  | 13,069 |  |  | 1,683 |
2028 |  | 10,076 |  |  | 1,010 |
Thereafter |  | 22,449 |  |  | 6,975 |
Total lease payments |  | 122,558 |  |  | 17,535 |
Less: |  |  |  |
Imputed interest |  | 13,039 |  |  | 2,570 |
Short-term lease payments |  | 8,247 |  |  | — |
Total lease liability |  | $ | 101,272 |  |  | $ | 14,965 |
Leases | Leases We have operating leases for our corporate and division offices, production facilities, model homes, and certain office and production equipment. Additionally, we have entered into finance leases for one of our production facilities and certain plant equipment. Our leases have remaining lease terms of up to 16.7 years, some of which include options to extend the leases for up to 20 years, and some of which include options to terminate the lease. See Note 1 herein for additional information regarding leases. The components of lease expense were as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022 |  | 2021
Lease expense |  |  |  |  |  |
Operating lease expense |  | $ | 37,262 |  |  | $ | 34,467 |  |  | $ | 31,923 |
Finance lease expense: |  |  |  |  |  |
Amortization of ROU assets |  | 2,059 |  |  | 1,916 |  |  | 1,798 |
Interest on lease liabilities |  | 421 |  |  | 417 |  |  | 429 |
Short-term lease expense |  | 30,607 |  |  | 27,584 |  |  | 24,012 |
Total lease expense |  | $ | 70,349 |  |  | $ | 64,384 |  |  | $ | 58,162 |
Other information related to leases was as follows:
|  | Year Ended December 31,
|  | 2023 |  | 2022
Supplemental Cash Flows Information: |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 29,044 |  |  | $ | 28,837 |
Operating cash flows from finance leases |  | $ | 421 |  |  | $ | 417 |
Financing cash flows from finance leases |  | $ | 1,661 |  |  | $ | 1,495 |
ROU assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 34,100 |  |  | $ | 44,782 |
Finance leases |  | $ | 1,624 |  |  | $ | 1,083 |
Weighted-average remaining lease term (in years): |  |  |  |
Operating leases |  | 5.8 |  | 6.0
Finance leases |  | 9.9 |  | 10.8
Weighted-average discount rate: |  |  |  |
Operating leases |  | 4.2 | % |  | 3.6 | %
Finance leases |  | 3.1 | % |  | 2.9 | %
We are committed under multiple non-cancelable operating and finance leases involving office space, model homes, production facilities, automobiles and equipment. Future lease payments under these operating and finance leases as of December 31, 2023 are as follows:
Year Ending December 31, |  | Operating Leases |  | Finance Leases
2024 |  | $ | 36,636 |  |  | $ | 2,303 |
2025 |  | 22,974 |  |  | 2,308 |
2026 |  | 17,354 |  |  | 3,256 |
2027 |  | 13,069 |  |  | 1,683 |
2028 |  | 10,076 |  |  | 1,010 |
Thereafter |  | 22,449 |  |  | 6,975 |
Total lease payments |  | 122,558 |  |  | 17,535 |
Less: |  |  |  |
Imputed interest |  | 13,039 |  |  | 2,570 |
Short-term lease payments |  | 8,247 |  |  | — |
Total lease liability |  | $ | 101,272 |  |  | $ | 14,965 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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