v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lessee, Operating Leases
14. LEASES

Lessee. The Partnership has entered into operating leases for equipment supporting the Partnership’s operations, corporate offices, field offices, and easements, with both Occidental and third parties as lessors. The Partnership has also entered into finance leases with third parties for equipment, vehicles, and an NGLs pipeline in Wyoming.
The following table summarizes information related to the Partnership’s leases:
December 31,
20242023
thousands except lease terms and discount rates
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Assets
Other assets$219,500 $— $84,279 $— 
Net property, plant, and equipment— 33,771 — 36,958 
Total lease assets (1)
$219,500 $33,771 $84,279 $36,958 
Liabilities
Accrued liabilities$58,897 $— $11,259 $— 
Short-term debt— 10,956 — 7,436 
Other liabilities143,801 — 48,459 — 
Long-term debt— 23,329 — 28,668 
Total lease liabilities (1)
$202,698 $34,285 $59,718 $36,104 
Weighted-average remaining lease term (years)4596
Weighted-average discount rate (%)5.7 7.0 4.6 7.1 
________________________________________________________________________________________
(1)Includes additions to ROU assets and lease liabilities of $154.1 million and $33.1 million related to operating leases for the years ended December 31, 2024 and 2023, respectively. Includes additions to ROU assets and lease liabilities of $4.3 million and $32.6 million related to finance leases for the years ended December 31, 2024 and 2023, respectively.
14. LEASES

The following table summarizes the Partnership’s lease cost:
Year Ended December 31,
thousands202420232022
Operating lease cost$17,086 $15,457 $14,767 
Short-term lease cost58,838 48,343 38,875 
Variable lease cost3,773 3,930 5,611 
Sublease income(587)(311)(414)
Finance lease cost
Amortization of ROU assets7,433 3,487 5,377 
Interest on lease liabilities2,573 1,083 414 
Total lease cost$89,116 $71,989 $64,630 

The following table summarizes cash paid for amounts included in the measurement of lease liabilities:
Year Ended December 31,
202420232022
thousandsOperating LeasesFinance LeasesOperating LeasesFinance LeasesOperating LeasesFinance Leases
Operating cash flows$15,627 $2,573 $14,217 $1,083 $13,616 $229 
Financing cash flows— 6,065 — 3,076 — 4,318 

The following table reconciles the undiscounted cash flows to the operating and finance lease liabilities at December 31, 2024:
 
Operating LeasesFinance Leases
2025$60,469 $11,492 
202662,650 10,245 
202763,959 6,787 
20288,920 6,580 
20299,230 3,795 
Thereafter29,010 — 
Total lease payments234,238 38,899 
Less portion representing imputed interest31,540 4,614 
Total lease liabilities$202,698 $34,285 
Lessee, Finance Leases
14. LEASES

Lessee. The Partnership has entered into operating leases for equipment supporting the Partnership’s operations, corporate offices, field offices, and easements, with both Occidental and third parties as lessors. The Partnership has also entered into finance leases with third parties for equipment, vehicles, and an NGLs pipeline in Wyoming.
The following table summarizes information related to the Partnership’s leases:
December 31,
20242023
thousands except lease terms and discount rates
Operating LeasesFinance LeasesOperating LeasesFinance Leases
Assets
Other assets$219,500 $— $84,279 $— 
Net property, plant, and equipment— 33,771 — 36,958 
Total lease assets (1)
$219,500 $33,771 $84,279 $36,958 
Liabilities
Accrued liabilities$58,897 $— $11,259 $— 
Short-term debt— 10,956 — 7,436 
Other liabilities143,801 — 48,459 — 
Long-term debt— 23,329 — 28,668 
Total lease liabilities (1)
$202,698 $34,285 $59,718 $36,104 
Weighted-average remaining lease term (years)4596
Weighted-average discount rate (%)5.7 7.0 4.6 7.1 
________________________________________________________________________________________
(1)Includes additions to ROU assets and lease liabilities of $154.1 million and $33.1 million related to operating leases for the years ended December 31, 2024 and 2023, respectively. Includes additions to ROU assets and lease liabilities of $4.3 million and $32.6 million related to finance leases for the years ended December 31, 2024 and 2023, respectively.
14. LEASES

The following table summarizes the Partnership’s lease cost:
Year Ended December 31,
thousands202420232022
Operating lease cost$17,086 $15,457 $14,767 
Short-term lease cost58,838 48,343 38,875 
Variable lease cost3,773 3,930 5,611 
Sublease income(587)(311)(414)
Finance lease cost
Amortization of ROU assets7,433 3,487 5,377 
Interest on lease liabilities2,573 1,083 414 
Total lease cost$89,116 $71,989 $64,630 

The following table summarizes cash paid for amounts included in the measurement of lease liabilities:
Year Ended December 31,
202420232022
thousandsOperating LeasesFinance LeasesOperating LeasesFinance LeasesOperating LeasesFinance Leases
Operating cash flows$15,627 $2,573 $14,217 $1,083 $13,616 $229 
Financing cash flows— 6,065 — 3,076 — 4,318 

The following table reconciles the undiscounted cash flows to the operating and finance lease liabilities at December 31, 2024:
 
Operating LeasesFinance Leases
2025$60,469 $11,492 
202662,650 10,245 
202763,959 6,787 
20288,920 6,580 
20299,230 3,795 
Thereafter29,010 — 
Total lease payments234,238 38,899 
Less portion representing imputed interest31,540 4,614 
Total lease liabilities$202,698 $34,285