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Leases | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases | 7. LEASES Lease cost is recognized in both the Cost of Sales and Operating Expenses sections of the Condensed Consolidated Statements of Income.
(In thousands) |  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Lease Cost |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 4,448 |  |  | $ | 3,917 |  |  | $ | 13,255 |  |  | $ | 11,968 |
Short-term lease cost |  |  | 2,697 |  |  |  | 1,887 |  |  |  | 8,215 |  |  |  | 4,587 |
Variable lease cost |  |  | 674 |  |  |  | 205 |  |  |  | 1,834 |  |  |  | 630 |
Total lease cost |  | $ | 7,819 |  |  | $ | 6,009 |  |  | $ | 23,304 |  |  | $ | 17,185 |
Other Information |  |  |  |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Operating cash flow from operating leases |  | $ | 4,447 |  |  | $ | 3,903 |  |  | $ | 13,276 |  |  | $ | 11,908 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 916 |  |  |  | 455 |  |  |  | 8,336 |  |  |  | 4,017 |
The following table outlines the maturities of lease liabilities as of September 30, 2023.
(In thousands) |  |  |
Undiscounted Cash Flows: |  |  |
2023 (excluding the nine months ended September 30, 2023) |  | $ | 4,310 |
2024 |  |  | 13,549 |
2025 |  |  | 9,346 |
2026 |  |  | 6,976 |
2027 |  |  | 6,270 |
Subsequent to 2027 |  |  | 38,179 |
Total Undiscounted Cash Flows |  | $ | 78,630 |
Less: Imputed interest |  |  | (12,190 | )
Present value |  | $ | 66,440 |
Current operating lease liabilities (1) |  |  | 12,787 |
Non-current operating lease liabilities |  |  | 53,653 |
Total lease liabilities |  | $ | 66,440 |
(1) This item is included in the Accrued liabilities line on the Company’s Condensed Consolidated Balance Sheet.
Weighted-average remaining lease term-operating leases |  | 9 Years |
Weighted-average discount rate-operating leases |  |  | 3.6 | %
As of September 30, 2023, the Company had equipment and railcars leases, valued at approximately $5,959,000, that had not commenced. These leases will commence during the fourth quarter of 2023 and the first quarter of 2024 with lease terms ranging from 1 year to 7 years.

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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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