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Leases (Tables) | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Lease, Cost | The following table provides details of our lease contracts for the three-month periods ended March 31, 2024 and 2023 (in thousands):
|  |  | Three Months Ended March 31,
|  |  |  |  | 2024 |  | 2023
Operating lease cost |  |  |  |  | $ | 9,546 |  |  | $ | 11,751 |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right of use assets |  |  |  |  | 1,308 |  |  | 845 |
Interest on lease liabilities |  |  |  |  | 1,459 |  |  | 1,059 |
Total finance lease cost |  |  |  |  | 2,767 |  |  | 1,904 |
Short-term lease cost |  |  |  |  | 6,018 |  |  | 5,060 |
Variable lease cost |  |  |  |  | 7,797 |  |  | 3,509 |
Total lease cost |  |  |  |  | $ | 26,128 |  |  | $ | 22,224 |
Supplemental cash flow information related to our lease contracts for the three-month periods ended March 31, 2024 and 2023 is as follows (in thousands):
| Three Months Ended March 31,
| 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 8,848 |  |  | $ | 10,974 |
Operating cash flows from finance leases | 1,018 |  |  | 1,203 |
Financing cash flows from finance leases | 560 |  |  | 500 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |
Operating leases | 8,856 |  |  | 10,337 |
Supplemental Balance Sheet Information related to Leases | Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at March 31, 2024 and December 31, 2023 is as follows (in thousands, except as noted):
| March 31, 2024 |  | December 31, 2023
Operating leases: |  |  |
Other assets | $ | 137,114 |  |  | $ | 137,405 |
Accrued expenses | 28,916 |  |  | 30,583 |
Other noncurrent liabilities | 114,427 |  |  | 113,681 |
Total operating lease liabilities | 143,343 |  |  | 144,264 |
Finance leases: |  |  |
Net property, plant and equipment | 105,116 |  |  | 112,438 |
Current portion of long-term debt(a) | 10,036 |  |  | 9,702 |
Long-term debt | 98,487 |  |  | 104,484 |
Total finance lease liabilities | 108,523 |  |  | 114,186 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 12.4 |  | 12.2
Finance leases | 20.6 |  | 20.7
Weighted average discount rate (%): |  |  |
Operating leases | 4.63 | % |  | 4.74 | %
Finance leases | 5.64 | % |  | 4.71 | %
(a) Balance includes accrued interest of finance lease recorded in Accrued expenses.
Lessee, Operating Lease, Liability, Maturity | Maturities of lease liabilities at March 31, 2024 were as follows (in thousands):
| Operating Leases |  | Finance Leases
Remainder of 2024 | $ | 25,358 |  |  | $ | 13,952 |
2025 | 30,524 |  |  | 9,340 |
2026 | 22,169 |  |  | 8,690 |
2027 | 16,935 |  |  | 8,690 |
2028 | 12,707 |  |  | 8,690 |
Thereafter | 106,227 |  |  | 127,855 |
Total lease payments | 213,920 |  |  | 177,217 |
Less imputed interest | 70,577 |  |  | 68,694 |
Total | $ | 143,343 |  |  | $ | 108,523 |
Finance Lease, Liability, Maturity | Maturities of lease liabilities at March 31, 2024 were as follows (in thousands):
| Operating Leases |  | Finance Leases
Remainder of 2024 | $ | 25,358 |  |  | $ | 13,952 |
2025 | 30,524 |  |  | 9,340 |
2026 | 22,169 |  |  | 8,690 |
2027 | 16,935 |  |  | 8,690 |
2028 | 12,707 |  |  | 8,690 |
Thereafter | 106,227 |  |  | 127,855 |
Total lease payments | 213,920 |  |  | 177,217 |
Less imputed interest | 70,577 |  |  | 68,694 |
Total | $ | 143,343 |  |  | $ | 108,523 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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