Our operating leases are comprised primarily of facility leases and our finance leases are comprised primarily of vehicle and equipment leases. We determine if an arrangement is a lease at inception and lease assets and liabilities are recognized upon commencement of the lease based on the present value of the future minimum lease payments over the lease term. Lease assets and liabilities are not recorded for leases with an initial term of one year or less. We generally use our incremental borrowing rate as the discount rate for leases, unless an interest rate is implicitly stated in the lease agreement. The lease term will include options to extend the lease when it is reasonably certain that we will exercise that option.


	Balance Sheet location	December 31,
		2025		2024
Operating leases:
Right-of-use lease assets	Right-of-use operating lease assets	$	243,626	$	248,013
Right-of-use lease liability, current	Other current liabilities	39,604		45,091
Right-of-use lease liability, long-term	Right-of-use operating lease liability	250,407		255,116

Finance leases:
Right-of-use lease assets	Property, plant and equipment	124,632		232,117
Right-of-use lease liability, current	Current portion of long-term debt	24,100		77,770
Right-of-use lease liability, long-term	Long-term debt	81,519		67,592

The following provides details of our lease expense:


	Years Ended December 31,
	2025		2024
Operating lease expense, net	$	60,060	$	59,429
Finance lease expense:
Amortization of assets	41,086		81,289
Interest on lease liabilities	8,479		15,462
Total finance lease expense	49,565		96,751
	$	109,625	$	156,180

Other information related to our leases is presented below:


	As of December 31,
	2025			2024
Right-of-use assets acquired in exchange for operating lease obligations	$	44,869		$	41,002
Cash Paid For Amounts Included In Measurement of Liabilities:
Operating cash flows from finance leases	8,479			15,462
Operating cash flows from operating leases	72,374			69,818
Weighted Average Remaining Lease Term:
Operating leases	7.7 years			7.9 years
Finance leases	4.7 years			3.1 years
Weighted Average Discount Rate:
Operating leases	5.96		%	5.72		%
Finance leases	7.30		%	8.17		%

The minimum future annual payments under non-cancellable leases during the next five years and thereafter, at rates now in force, are as follows:


	Finance leases		Operating leases
2026	$	30,535	$	52,127
2027	30,315		53,874
2028	28,368		48,407
2029	17,255		43,954
2030	9,150		41,285
Thereafter	2,332		128,991
Total future minimum lease payments, undiscounted	117,955		368,638
Less: Imputed interest	(12,336)		(78,627)
Present value of future minimum lease payments	$	105,619	$	290,011