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Leasing Arrangements
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leasing Arrangements Leasing Arrangements
The Company leases warehouse and manufacturing real estate, and manufacturing and computer equipment under operating leases with lease terms ranging up to 25 years. Several operating lease agreements contain options to extend the lease term and/or options for early termination. The lease term consists of the non-cancelable period of the lease, periods covered by options to extend the lease if the Company is reasonably certain to exercise the option, and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the option. As of December 31, 2022, we had no material leases that had yet to commence.
The discount rate implicit within the leases is generally not determinable, and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for leases is determined based on the lease term over which lease payments are made, adjusted for the impact of collateral.
The components of operating and finance lease cost for 2022 and 2021 were as follows:
(Thousands)20222021
Components of lease expense
Operating lease cost$13,381 $11,825 
Finance lease cost
Amortization of right-of-use assets1,202 1,989 
Interest on lease liabilities819 1,009 
Total lease cost$15,402 $14,823 
The Company straight-lines its expense of fixed payments for operating leases over the lease term and expenses the variable lease payments in the period incurred. These variable lease payments are not included in the calculation of right-of-use assets or lease liabilities.

Supplemental balance sheet information related to the Company's operating and finance leases as of December 31, 2022 and 2021 is as follows:

(Thousands, except lease term and discount rate)20222021
Supplemental balance sheet information
Operating Leases
Operating lease right-of-use assets
$64,249 $63,096 
Other liabilities and accrued items8,401 7,906 
Operating lease liabilities59,055 57,099 
Finance Leases
Property, plant, and equipment
$31,662 $32,865 
Allowances for depreciation, depletion, and amortization
(7,395)(6,193)
Finance lease assets, net$24,267 $26,672 
Other liabilities and accrued items$1,485 $2,800 
Finance lease liabilities13,876 16,327 
Total principal payable on finance leases$15,361 $19,127 
Weighted Average Remaining Lease Term
Operating leases
11.7811.47
Finance leases
17.9816.96
Weighted Average Discount Rate
Operating leases
6.08%6.19%
Finance leases
5.11%4.99%
Future maturities of the Company's lease liabilities as of December 31, 2022 are as follows:
FinanceOperating
(Thousands)LeasesLeases
2023$2,216 $12,338 
20241,385 9,642 
20251,230 8,743 
20261,204 7,355 
20271,204 5,913 
2028 and thereafter 16,579 51,574 
Total lease payments23,818 95,565 
Less amount of lease payment representing interest8,457 28,109 
Total present value of lease payments$15,361 $67,456 

Supplemental cash flow information related to leases was as follows:
(Thousands)20222021
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,653 $17,580 
Operating cash flows from finance leases818 1,009 
Financing cash flows from finance leases2,736 2,819 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases9,967 9,191 
Finance leases— — 
Leasing Arrangements Leasing Arrangements
The Company leases warehouse and manufacturing real estate, and manufacturing and computer equipment under operating leases with lease terms ranging up to 25 years. Several operating lease agreements contain options to extend the lease term and/or options for early termination. The lease term consists of the non-cancelable period of the lease, periods covered by options to extend the lease if the Company is reasonably certain to exercise the option, and periods covered by an option to terminate the lease if the Company is reasonably certain not to exercise the option. As of December 31, 2022, we had no material leases that had yet to commence.
The discount rate implicit within the leases is generally not determinable, and, therefore, the Company determines the discount rate based on its incremental borrowing rate. The incremental borrowing rate for leases is determined based on the lease term over which lease payments are made, adjusted for the impact of collateral.
The components of operating and finance lease cost for 2022 and 2021 were as follows:
(Thousands)20222021
Components of lease expense
Operating lease cost$13,381 $11,825 
Finance lease cost
Amortization of right-of-use assets1,202 1,989 
Interest on lease liabilities819 1,009 
Total lease cost$15,402 $14,823 
The Company straight-lines its expense of fixed payments for operating leases over the lease term and expenses the variable lease payments in the period incurred. These variable lease payments are not included in the calculation of right-of-use assets or lease liabilities.

Supplemental balance sheet information related to the Company's operating and finance leases as of December 31, 2022 and 2021 is as follows:

(Thousands, except lease term and discount rate)20222021
Supplemental balance sheet information
Operating Leases
Operating lease right-of-use assets
$64,249 $63,096 
Other liabilities and accrued items8,401 7,906 
Operating lease liabilities59,055 57,099 
Finance Leases
Property, plant, and equipment
$31,662 $32,865 
Allowances for depreciation, depletion, and amortization
(7,395)(6,193)
Finance lease assets, net$24,267 $26,672 
Other liabilities and accrued items$1,485 $2,800 
Finance lease liabilities13,876 16,327 
Total principal payable on finance leases$15,361 $19,127 
Weighted Average Remaining Lease Term
Operating leases
11.7811.47
Finance leases
17.9816.96
Weighted Average Discount Rate
Operating leases
6.08%6.19%
Finance leases
5.11%4.99%
Future maturities of the Company's lease liabilities as of December 31, 2022 are as follows:
FinanceOperating
(Thousands)LeasesLeases
2023$2,216 $12,338 
20241,385 9,642 
20251,230 8,743 
20261,204 7,355 
20271,204 5,913 
2028 and thereafter 16,579 51,574 
Total lease payments23,818 95,565 
Less amount of lease payment representing interest8,457 28,109 
Total present value of lease payments$15,361 $67,456 

Supplemental cash flow information related to leases was as follows:
(Thousands)20222021
Supplemental cash flow information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$19,653 $17,580 
Operating cash flows from finance leases818 1,009 
Financing cash flows from finance leases2,736 2,819 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases9,967 9,191 
Finance leases— —