Leases

12 Months Ended

Dec. 31, 2024

NOTE 13: LEASES

Lease costs consist of the following:

The impact of leasing on the Consolidated Balance Sheets consists of the following:


	Classification on the	Year Ended December 31,
	Consolidated Balance Sheets	2024		2023
		(in thousands)
Assets
Finance lease assets	Property, plant and equipment, net	$	20,262	$	21,543
Operating lease assets	Operating lease right of use asset, net		172,206		168,513
Total lease assets		$	192,468	$	190,056
Current liabilities
Finance lease liabilities	Current portion of long-term debt	$	835	$	837
Operating lease liabilities	Operating lease liabilities		17,663		17,040
Non-current liabilities
Finance lease liabilities	Long-term debt		17,540		19,423
Operating lease liabilities	Long-term operating lease liabilities		164,224		159,482
Total lease liabilities		$	200,262	$	196,782

Supplemental cash flow information related to leases consisted of the following:


	Year Ended December 31,
	2024		2023
	(in thousands)
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$	29,863	$	26,874
Operating cash flows from finance leases		867		939
Financing cash flows from finance leases		830		807
Right of use assets obtained in exchange for lease liabilities:
Operating lease right of use asset		25,495		4,530

Future minimum operating lease payments consist of the following for the twelve months ending December 31:


	Operating Leases
	(in thousands)
2025	$	28,376
2026		23,939
2027		22,403
2028		21,937
2029		19,361
Thereafter		170,073
Total future minimum payments		286,089
Less imputed interest		104,202
Present value of minimum payments	$	181,887

Weighted average remaining lease term and borrowing rate consisted of the following:


	December 31, 2024						December 31, 2023
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Weighted average remaining lease term (in years)		16.0			19.5			16.4			20.3
Weighted average borrowing rate		6.2	%		4.7	%		5.8	%		4.7	%