XML 43 R22.htm IDEA: XBRL DOCUMENT
v3.25.4

Leases - The Company as a Lessee | 12 Months Ended
--- | ---
Dec. 31, 2025
Leases [Abstract] |
Leases - The Company as a Lessee | Leases - The Company as a Lessee Principal non-cancelable operating leases include land that have lease terms that expire through 2034. Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with terms that expire through 2030. Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the years ended December 31, 2025, 2024, and 2023, lease expense under operating and finance leases was as follows (in thousands):
|  | 2025 |  | 2024 |  | 2023
Lease cost - operating and finance leases |  |  |  |  |  |
Operating lease cost |  | $ | 2,353 |  |  | $ | 1,915 |  |  | $ | 2,017 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | 370 |  |  | 292 |  |  | 199 |
Interest on lease liabilities |  | 234 |  |  | 188 |  |  | 110 |
Total lease cost - operating and finance leases |  | $ | 2,957 |  |  | $ | 2,395 |  |  | $ | 2,326 |
Other amounts relating to leases segregated between those for finance and operating leases include the following for the years ended December 31, 2025, 2024, and 2023 (dollars in thousands):
|  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash outflows from operating leases |  | $ | 2,245 |  |  | $ | 1,869 |  |  | $ | 1,990 |
Operating cash outflows from finance leases |  | $ | 234 |  |  | $ | 188 |  |  | $ | 110 |
Financing cash flows from finance leases |  | $ | 370 |  |  | $ | 292 |  |  | $ | 199 |
Other details: |  |  |  |  |  |
Weighted-average remaining lease term (years) - operating leases |  | 8.8 |  | 6.5 |  | 2.5
Weighted-average remaining lease term (years) - finance leases |  | 2.8 |  | 3.3 |  | 4.2
Weighted-average discount rate - operating leases |  | 4.6 | % |  | 4.4 | % |  | 4.4 | %
Weighted-average discount rate - finance leases |  | 4.8 | % |  | 4.7 | % |  | 4.8 | %
Future lease payments under non-cancelable operating and finance leases as of December 31, 2025, were as follows (in thousands):
|  | Operating Leases |  | Finance Leases
2026 |  | $ | 2,192 |  |  | $ | 610 |
2027 |  | 2,192 |  |  | 2,204 |
2028 |  | 2,192 |  |  | 1,414 |
2029 |  | 2,192 |  |  | 243 |
2030 |  | 2,192 |  |  | 963 |
Thereafter |  | 8,062 |  |  | — |
Total lease payments |  | $ | 19,022 |  |  | $ | 5,434 |
Less: Interest |  | (4,677) |  |  | (596) |
Total lease liabilities |  | $ | 14,345 |  |  | $ | 4,838 |
Information for operating and finance leases as of the years ended December 31, 2025 and 2024, were as follows (in thousands):
| Consolidated Balance Sheet Location |  | 2025 |  | 2024
Assets |  |  |  |  |
ROU assets - operating leases | Operating lease right-of-use assets |  | $ | 15,067 |  |  | $ | 148 |
ROU assets - finance leases | Real estate property, net |  | $ | 5,284 |  |  | $ | 4,202 |
Liabilities |  |  |  |  |
Lease liabilities - operating leases | Operating lease liabilities |  | $ | 14,345 |  |  | $ | 123 |
Lease liabilities - finance leases | Notes payable and other debt |  | $ | 4,838 |  |  | $ | 3,932 |
Leases - The Company as a Lessee | Leases - The Company as a Lessee Principal non-cancelable operating leases include land that have lease terms that expire through 2034. Management expects that in the normal course of business, most operating leases will be renewed or replaced by other similar leases. The Company has equipment under finance leases with terms that expire through 2030. Lease expense for operating leases that provide for future escalations are accounted for on a straight-line basis. For the years ended December 31, 2025, 2024, and 2023, lease expense under operating and finance leases was as follows (in thousands):
|  | 2025 |  | 2024 |  | 2023
Lease cost - operating and finance leases |  |  |  |  |  |
Operating lease cost |  | $ | 2,353 |  |  | $ | 1,915 |  |  | $ | 2,017 |
Finance lease cost: |  |  |  |  |  |
Amortization of right-of-use assets |  | 370 |  |  | 292 |  |  | 199 |
Interest on lease liabilities |  | 234 |  |  | 188 |  |  | 110 |
Total lease cost - operating and finance leases |  | $ | 2,957 |  |  | $ | 2,395 |  |  | $ | 2,326 |
Other amounts relating to leases segregated between those for finance and operating leases include the following for the years ended December 31, 2025, 2024, and 2023 (dollars in thousands):
|  | 2025 |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash outflows from operating leases |  | $ | 2,245 |  |  | $ | 1,869 |  |  | $ | 1,990 |
Operating cash outflows from finance leases |  | $ | 234 |  |  | $ | 188 |  |  | $ | 110 |
Financing cash flows from finance leases |  | $ | 370 |  |  | $ | 292 |  |  | $ | 199 |
Other details: |  |  |  |  |  |
Weighted-average remaining lease term (years) - operating leases |  | 8.8 |  | 6.5 |  | 2.5
Weighted-average remaining lease term (years) - finance leases |  | 2.8 |  | 3.3 |  | 4.2
Weighted-average discount rate - operating leases |  | 4.6 | % |  | 4.4 | % |  | 4.4 | %
Weighted-average discount rate - finance leases |  | 4.8 | % |  | 4.7 | % |  | 4.8 | %
Future lease payments under non-cancelable operating and finance leases as of December 31, 2025, were as follows (in thousands):
|  | Operating Leases |  | Finance Leases
2026 |  | $ | 2,192 |  |  | $ | 610 |
2027 |  | 2,192 |  |  | 2,204 |
2028 |  | 2,192 |  |  | 1,414 |
2029 |  | 2,192 |  |  | 243 |
2030 |  | 2,192 |  |  | 963 |
Thereafter |  | 8,062 |  |  | — |
Total lease payments |  | $ | 19,022 |  |  | $ | 5,434 |
Less: Interest |  | (4,677) |  |  | (596) |
Total lease liabilities |  | $ | 14,345 |  |  | $ | 4,838 |
Information for operating and finance leases as of the years ended December 31, 2025 and 2024, were as follows (in thousands):
| Consolidated Balance Sheet Location |  | 2025 |  | 2024
Assets |  |  |  |  |
ROU assets - operating leases | Operating lease right-of-use assets |  | $ | 15,067 |  |  | $ | 148 |
ROU assets - finance leases | Real estate property, net |  | $ | 5,284 |  |  | $ | 4,202 |
Liabilities |  |  |  |  |
Lease liabilities - operating leases | Operating lease liabilities |  | $ | 14,345 |  |  | $ | 123 |
Lease liabilities - finance leases | Notes payable and other debt |  | $ | 4,838 |  |  | $ | 3,932 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration