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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | NOTE 7 – LEASES The Company has operating and finance leases for facilities and equipment which have remaining terms ranging from 1 to 14 years. The leases may include options to extend the lease periods for up to 5 years at rates approximating market rates and/or options to terminate the leases within 1 year. The leases may include a residual value guarantee or a responsibility to return the property to its original state of use. A limited number of leases contain provisions that provide for rental increases based on consumer price indices. The change in lease cost resulting from changes in these indices was included within variable lease cost. The Company’s lease cost is recognized on a straight-line basis over the lease term and is primarily included within indirect and selling expenses on the consolidated statements of comprehensive income. Lease cost consisted of the following:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 22,085 |  |  | $ | 25,037 |  |  | $ | 37,889 |
Finance lease cost - amortization of right-of-use assets |  |  | 2,040 |  |  |  | 2,040 |  |  |  | 598 |
Finance lease cost - interest |  |  | 519 |  |  |  | 602 |  |  |  | 179 |
Short-term lease cost |  |  | 724 |  |  |  | 669 |  |  |  | 509 |
Variable lease cost |  |  | 289 |  |  |  | 222 |  |  |  | 146 |
Sublease income |  |  | — |  |  |  | (28 | ) |  |  | (92 | )
Total lease cost |  | $ | 25,657 |  |  | $ | 28,542 |  |  | $ | 39,229 |
Future minimum lease payments under non-cancellable operating and finance leases as of December 31, 2024 were as follows:
|  | Operating |  |  | Finance |
December 31, 2025 |  | $ | 26,183 |  |  | $ | 3,041 |
December 31, 2026 |  |  | 23,708 |  |  |  | 3,041 |
December 31, 2027 |  |  | 18,335 |  |  |  | 3,041 |
December 31, 2028 |  |  | 15,281 |  |  |  | 2,985 |
December 31, 2029 |  |  | 13,244 |  |  |  | 2,965 |
Thereafter |  |  | 118,158 |  |  |  | — |
Total future minimum lease payments |  |  | 214,909 |  |  |  | 15,073 |
Less: Interest |  |  | (38,253 | ) |  |  | (1,200 | )
Total lease liabilities |  | $ | 176,656 |  |  | $ | 13,873 |
Lease liabilities - current |  | $ | 20,721 |  |  | $ | 2,612 |
Lease liabilities - non-current |  |  | 155,935 |  |  |  | 11,261 |
Total lease liabilities |  | $ | 176,656 |  |  | $ | 13,873 |
Other information related to operating and finance leases is as follows:
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 27,267 |  |  | $ | 20,368 |
Financing cash flows from finance leases |  | $ | 2,522 |  |  | $ | 2,438 |
Operating cash flows from finance leases |  | $ | 519 |  |  | $ | 602 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 3,730 |  |  | $ | 18,590 |
Property and equipment obtained in exchange for finance lease liabilities |  |  | — |  |  |  | 338 |
Weighted-average remaining lease term |  |  |  |  |  |
Operating leases |  |  | 11.4 |  |  |  | 11.6 |
Finance leases |  |  | 5.0 |  |  |  | 6.0 |
Weighted-average discount rate |  |  |  |  |  |
Operating leases |  |  | 3.5 | % |  |  | 3.6 | %
Finance leases |  |  | 3.4 | % |  |  | 3.4 | %

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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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