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Commitments and Contingencies | 3 Months Ended
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Mar. 31, 2025
Commitments and Contingencies Disclosure [Abstract] |
Commitments and Contingencies | COMMITMENTS AND CONTINGENCIES Lease Expense The company leases certain facilities, parcels of land, and equipment, with remaining terms ranging from less than one year to approximately 12.6 years. The land and facility leases include renewal options. The renewal options are included in the lease term only for those sites or locations in which they are reasonably certain to be renewed. Equipment renewals are not considered reasonably certain to be exercised as they typically renew with significantly different underlying terms. The components of lease expense are as follows (in thousands):
| Three Months Ended March 31,
| 2025 |  | 2024
Lease expense |  |  |
Operating lease expense | $ | 7,328 |  | $ | 7,136
Variable lease expense (1) | 222 |  | 186
Total lease expense | $ | 7,550 |  | $ | 7,322
(1)Represents amounts incurred in excess of the minimum payments required for a certain building lease and for the handling and unloading of railcars for a certain land lease, offset by railcar lease abatements provided by the lessor when railcars are out of service during periods of maintenance or upgrade. Supplemental cash flow information related to operating leases is as follows (in thousands):
| Three Months Ended March 31,
| 2025 |  | 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | $ | 7,372 |  |  | $ | 6,988 |
Right-of-use assets obtained in exchange for lease obligations |  |  |
Operating leases | 282 |  |  | 7,163 |
Supplemental balance sheet information related to operating leases is as follows:
| March 31, 2025 |  | December 31, 2024
Weighted average remaining lease term | 3.8 years |  | 4.0 years
Weighted average discount rate | 5.41 | % |  | 5.36 | %
Aggregate minimum lease payments under the operating lease agreements for the remainder of 2025 and in future years are as follows (in thousands):
Year Ending December 31, | Amount
2025 | $ | 20,515 |
2026 | 20,673 |
2027 | 16,303 |
2028 | 7,763 |
2029 | 4,357 |
Thereafter | 5,655 |
Total | 75,266 |
Less: Present value discount | (7,538) |
Lease liabilities | $ | 67,728 |
Other Commitments As of March 31, 2025, the company had contracted future purchases of grain, distillers grains and natural gas, valued at approximately $257.0 million and future commitments for storage and transportation, valued at approximately $37.7 million. The company has entered into contracts with Tallgrass High Plains Carbon Storage, LLC and its affiliates, related to the construction, development and operation of carbon capture and sequestration projects at our three Nebraska plants, which are expected to be completed in 2025. Payments associated with these contracts are due monthly over a period of twelve years, commencing after the capture facilities are considered in-service. Amounts due under the contracts are based on the achievement of certain project milestones and are subject to termination of all or portions of the contracts. Certain of the future obligations to Tallgrass High Plains Carbon Storage LLC are secured by a leasehold deed of trust, security agreement and assignment of rents and leases. As of March 31, 2025, the company had incurred $28.5 million of accumulated construction costs in relation to the projects, presented as property, plant and equipment on the consolidated balance sheet, with an equal and offsetting liability presented as other liabilities. Legal The company is currently involved in litigation that has arisen in the ordinary course of business, but does not believe any pending litigation will have a material adverse effect on its financial position, results of operations or cash flows.

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