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LEASES | 3 Months Ended
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Mar. 31, 2025
LEASES [Abstract] |
LEASES | NOTE 5 – LEASES The Company has both operating and finance leases for land, buildings, machinery, vehicles and certain equipment. Our leases have remaining lease terms of 1 to 25 years, some of which include options to extend the lease agreements for up to 12 years. Our leases do not contain residual value guarantees. As of March 31, 2025, and December 31, 2024, assets recorded under finance leases were immaterial. Operating lease expenses are classified as cost of product sales and selling, general and administrative on the Consolidated Statements of Operations. The components of lease expense were as follows:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Operating leases |  | $ | 3,452 |  |  | $ | 3,087 |
Finance leases |  |  |  |  |  |  |  |
Amortization of right of use (ROU) assets |  |  | 122 |  |  |  | 103 |
Interest on lease liabilities |  |  | 9 |  |  |  | 8 |
Short-term leases |  |  | 61 |  |  |  | 26 |
Variable lease expense |  |  | 119 |  |  |  | 144 |
Sublease income |  |  | (373 | ) |  |  | (205 | )
Total lease expense |  | $ | 3,390 |  |  | $ | 3,163 |
The weighted average remaining lease term and weighted average discount rate were as follows:
|  | March 31, |
|  | 2025 |  |  | 2024 |
Weighted average remaining lease term (in years) |  |  |  |  |  |
Finance leases |  |  | 3 |  |  |  | 3 |
Operating leases |  |  | 12 |  |  |  | 13 |
Weighted average discount rate |  |  |  |  |  |  |  |
Finance leases |  |  | 2.16 | % |  |  | 1.25 | %
Operating leases |  |  | 5.42 | % |  |  | 5.41 | %
Supplemental cash flow information related to leases was as follows:
|  | Three Months Ended March 31, |
|  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Finance - Financing cash flows |  | $ | 259 |  |  | $ | 225 |
Finance - Operating cash flows |  |  | 9 |  |  |  | 8 |
Operating leases - Operating cash flows |  |  | 3,434 |  |  |  | 2,928 |
Right of use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  |  | 6,207 |  |  |  | 1,517 |
Finance leases |  |  | 213 |  |  |  | 71 |
|  | $ | 6,420 |  |  | $ | 1,588 |
Maturities of lease liabilities as of March 31, 2025, are as follows:
Years ending December 31: |  | Finance |  |  | Operating |
2025(1) |  | $ | 785 |  |  | $ | 9,759 |
2026 |  |  | 746 |  |  |  | 11,050 |
2027 |  |  | 201 |  |  |  | 7,722 |
2028 |  |  | 194 |  |  |  | 6,637 |
2029 |  |  | 185 |  |  |  | 6,004 |
2030 |  |  | 69 |  |  |  | 5,871 |
Thereafter |  |  | 6 |  |  |  | 50,714 |
Total lease payments |  |  | 2,186 |  |  |  | 97,757 |
Less: imputed interest |  |  | 97 |  |  |  | 30,897 |
Total lease liabilities |  | $ | 2,089 |  |  | $ | 66,860 |
| (1) | Excluding the three months ended March 31, 2025.

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- Definition The entire disclosure for operating and finance leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating and finance lease liability. + References No definition available. + Details
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- References No definition available. + Details
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