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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | 14. Leases Our leasing activity primarily consists of leasing railcars and office space, which includes leasing the office space housing our headquarters in Oklahoma City, Oklahoma. We have in excess of 1,300 railcars under lease. Typically, the initial term of our railcar leases ranges fro m 2 years to 10 years, a nd the majority do not include any renewal options. Most of our railcar leases are operating leases with a limited number classified as finance leases. From time to time, when we have excess freight capacity, we may sublease a portion of our railcars fleet on a short term basis to other parties. The income for these subleases is recorded as a component of “Other (income) expense, net” in our consolidated statements of operations.
|  | 2024 |  |  | 2023 |  |  | 2022 |
|  | (Dollars In Thousands) |
Components of lease expense: |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 12,056 |  |  | $ | 11,071 |  |  | $ | 10,692 |
Short-term lease cost |  |  | 7,537 |  |  |  | 3,399 |  |  |  | 3,634 |
Other cost (1) |  |  | 836 |  |  |  | 391 |  |  |  | 275 |
Sublease income |  |  | (853 | ) |  |  | (5,632 | ) |  |  | — |
Total lease cost |  | $ | 19,576 |  |  | $ | 9,229 |  |  | $ | 14,601 |
Supplemental cash flow information related to leases: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 11,878 |  |  | $ | 10,948 |  |  | $ | 10,552 |
Operating cash flows from finance leases |  |  | 213 |  |  |  | 78 |  |  |  | 56 |
Financing cash flows from finance leases |  |  | 429 |  |  |  | 231 |  |  |  | 168 |
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 12,520 |  |  | $ | 11,257 |  |  | $ | 10,776 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 13,636 |  |  | $ | 11,969 |  |  | $ | 4,347 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 3,371 |  |  | $ | 46 |  |  | $ | 932 |
Other lease-related information: |  |  |  |  |  |  |  |  |
Weighted-average remaining lease term - operating leases (in years) |  |  | 4.9 |  |  |  | 4.3 |  |  |  | 3.3 |
Weighted-average remaining lease term - finance leases (in years) |  |  | 7.3 |  |  |  | 4.0 |  |  |  | 4.9 |
Weighted-average discount rate - operating leases |  |  | 7.94 | % |  |  | 8.26 | % |  |  | 8.25 | %
Weighted-average discount rate - finance leases |  |  | 7.54 | % |  |  | 7.53 | % |  |  | 7.54 | %
_____________________________ (1) Includes variable lease costs, finance lease interest and amortization costs. As of December 31, 2024, future minimum lease payments due under ASC 842 are summarized by fiscal year in the table below:
|  | Operating Leases |  |  | Finance Leases |
|  | (In Thousands) |
2025 |  | $ | 9,330 |  |  | $ | 873 |
2026 |  |  | 6,951 |  |  |  | 742 |
2027 |  |  | 5,797 |  |  |  | 675 |
2028 |  |  | 4,464 |  |  |  | 609 |
2029 |  |  | 3,311 |  |  |  | 582 |
Thereafter |  |  | 4,816 |  |  |  | 1,566 |
Total lease payments |  |  | 34,669 |  |  |  | 5,047 |
Less imputed interest |  |  | (5,876 | ) |  |  | (1,152 | )
Present value of lease liabilities |  | $ | 28,793 |  |  | $ | 3,895 |
As of December 31, 2024, we have an executed finance lease with lease terms greater than one year, totaling approximately $1.6 million, which has not yet commenced.

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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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