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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases | Leases The Company has various lease arrangements for certain manufacturing and warehousing facilities, equipment rental, as well as administrative facilities. Lease expiration dates, including expected renewal options, range from April 2025 to November 2033. The discount rates used to calculate the present value of lease payment range from 1.3% to 6.6% as of September 30, 2024. Currently, all leases are classified as operating leases. The following table presents the balances by lease type:
Operating Leases |  | Balance Sheet Classification |  | September 30, 2024 |  | December 31, 2023
|  |  |  | (in thousands)
Right of use assets |  | Right of use assets |  | $ | 15,505 |  |  | $ | 11,774 |
Lease liability, short-term |  | Accrued liabilities |  | 2,298 |  |  | 2,021 |
Lease liability, long-term |  | Other long-term liabilities |  | 13,788 |  |  | 10,201 |
Since 2018, the Company has leased the manufacturing, engineering, and office space used by our operations in Parkville, Missouri. The lease provides approximately 86,000 square feet of manufacturing and office space. The lease expires December 31, 2032. In November 2022, the Company entered into a lease agreement for land and facilities in Tulsa, Oklahoma which provides an additional 198,000 square feet to support our operations. In January 2024, we amended the lease for an additional 157,550 square feet for operations and parts distribution. The amended lease term will expire November 30, 2029. In July 2023, the Company entered into a lease agreement with a start date of September 1, 2023, for land and approximately 72,000 square feet of facilities in Redmond, Oregon to support our manufacturing operations. The lease term is approximately five years with additional renewal options. We also lease several properties near our Redmond, Oregon location. In the aggregate, these leases contain approximately 104,500 square feet of additional warehouse space. These leases have expiring terms from February 2025 to November 2033. Total undiscounted future lease payments are as follows:
| (in thousands)
2024 | $ | 822 |
2025 | 3,126 |
2026 | 3,046 |
2027 | 3,136 |
2028 | 3,130 |
Thereafter | 6,403 |

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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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