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LEASES | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
LEASES | LEASES The Company has operating leases for railcars, computer equipment, office spaces, a bottling facility, a distribution facility, fulfillment center, retail location, and certain equipment. The Company has no finance leases. Leases with terms of twelve months or less are not recorded on the Company’s Consolidated Balance Sheets. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. Lease components are accounted for separately from non-lease components, such as common-area maintenance, based on the relative, observable stand-alone prices of the components. The Company’s leases have remaining lease terms of one year to six years, some of which may include options to extend the lease. Options to renew the Company’s leases were not considered when assessing the value of the right-of-use assets because the Company is not reasonably certain that it will assert the options to renew the leases. As most of the Company’s leases do not provide an implicit rate, the Company uses its estimated incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The following table provides supplemental balance sheet classification information related to leases:
|  |  |  | December 31,
Leases |  | Balance Sheet Classification |  | 2022 |  | 2021
Assets |  |  |  |  |  |
Operating |  | Operating lease right-of-use-assets, net |  | $ | 15,042 |  |  | $ | 9,671 |
Total leased assets |  |  |  | $ | 15,042 |  |  | $ | 9,671 |
Liabilities |  |  |  |  |  |
Current Operating |  | Accrued expenses |  | $ | 3,807 |  |  | $ | 2,865 |
Noncurrent Operating |  | Long-term operating lease liabilities |  | 11,622 |  |  | 6,997 |
Total operating lease liability |  |  |  | $ | 15,429 |  |  | $ | 9,862 |
The following table presents the components of lease costs:
| Year Ended December 31,
2022 |  | 2021
Operating lease costs | $ | 4,278 |  |  | $ | 2,358 |
Short-term lease costs | 415 |  |  | 1,043 |
Sublease income | — |  |  | (4) |
Net lease costs(a) | $ | 4,693 |  |  | $ | 3,397 |
(a) Recorded as a component of operating income on the Company’s Consolidated Statements of Income. The following table presents supplemental cash flow and non-cash activity related to lease information:
| Year Ended December 31,
2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases | $ | 4,082 |  |  | $ | 2,857 |
Right-of-use assets obtained in exchange for lease obligations |  |  |
Operating leases | $ | 3,417 |  |  | $ | 7,312 |
The following table presents weighted average discount rate and remaining lease term:
| December 31,
| 2022 |  | 2021
Weighted average discount rate |  |  |
Operating leases | 2.03 | % |  | 2.26 | %
Weighted average remaining lease term |  |  |
Operating leases | 4.6 years |  | 4.1 years
As of December 31, 2022, the maturities of operating lease liabilities were as follows:
2023 |  | $ | 4,066 |
2024 |  | 3,452 |
2025 |  | 3,073 |
2026 |  | 2,700 |
2027 |  | 1,601 |
Thereafter |  | 1,201 |
Total lease payments |  | 16,093 |
Less interest |  | (664) |
Total operating lease liability |  | $ | 15,429 |

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- References No definition available. + Details
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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 -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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