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Leases

3 Months Ended

Mar. 31, 2026

8. Leases

The Company has operating leases for the use of equipment, corporate office space, and some of its terminal and distribution facilities. The leases have remaining lease terms of 0 to 8 years, with a weighted-average remaining lease term of 3 years and 4 years at March 31, 2026 and December 31, 2025, respectively. Some operating leases include options to extend the leases for up to 5 years and are only considered in the lease terms if the Company is reasonably certain it will exercise the option to extend.

The components of net operating lease costs for the three months ended March 31, 2026 and 2025 were as follows (in thousands):


			Three Months Ended March 31,
	Classification		2026			2025
Operating lease costs⁽¹⁾	Cost of revenues		$	705		$	724
Operating lease costs⁽¹⁾	Selling, general and administrative expenses			79			85
Rental revenues	Revenues			(51)			(55)
Rental revenues	Other (income) expense, net			(26)			(31)
Net operating lease costs			$	708		$	723

(1)	Includes the costs of leases with a term of one year or less.

As of March 31, 2026, future minimum payments under operating leases that were either non-cancelable or subject to significant penalty upon cancellation, including future minimum payments under renewal options that the Company is reasonably certain to exercise, were as follows (in thousands):


2026	$	1,272
2027		1,328
2028		635
2029		217
2030		191
Thereafter		290
Total future minimum lease payments		3,934
Less imputed interest		(308)
Present value of lease liabilities	$	3,626

Supplemental cash flow information pertaining to the Company’s leasing activity for the three months ended March 31, 2026 and 2025 is as follows (in thousands):


	Three Months Ended March 31,
	2026		2025
Cash payments for lease liabilities included in operating cash flows	$	466	$	450
Right-of-use assets obtained in exchange for operating lease obligations	$	—	$	176