XML 114 R13.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2024
Leases [Abstract] |
Leases | 5. Leases The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of December 31, 2024, the Company’s leases have remaining lease terms of less than one year to 11.8 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the lease term, which are not included in the ROU assets, as it is not reasonably certain that the Company will exercise such options. Short-term leases, those with an initial term of 12 months or less, are not recorded on the consolidated balance sheets. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants. The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. Financial and other information related to the Company’s operating and finance leases follow:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 8,584 |  |  | $ | 7,441 |  |  | $ | 7,751 |
Finance lease cost |  |  |  |  |  |
Amortization of ROU assets |  | 434 |  |  | 405 |  |  | 377 |
Interest |  | 81 |  |  | 110 |  |  | 138 |
Total lease cost |  | $ | 9,099 |  |  | $ | 7,956 |  |  | $ | 8,266 |
|  |  | December 31,
| Balance Sheet Location |  | 2024 |  | 2023
Operating leases(a) |  |  |  |  |
ROU assets | Other assets |  | $ | 31,112 |  |  | $ | 17,475 |
Lease liabilities, current | Accrued and other current liabilities |  | 7,604 |  |  | 4,499 |
Lease liabilities, non-current | Other liabilities |  | 24,035 |  |  | 14,666 |
Finance leases |  |  |  |  |
ROU assets | Property, plant and equipment, net |  | 709 |  |  | 1,078 |
Lease liabilities | Long-term debt |  | 921 |  |  | 1,355 |
(a)During the second quarter of 2024, the Company recorded an ROU asset and corresponding lease liability of $14 million related to a new warehouse lease agreement in Canada.
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Operating cash flows - cash paid for amounts included in the measurement of operating lease liabilities | $ | 8,590 |  |  | $ | 6,996 |  |  | $ | 7,694 |
Operating lease ROU assets obtained in exchange for lease liabilities | 20,134 |  |  | 7,676 |  |  | 2,975 |
Finance lease cash flows were immaterial during the years ended December 31, 2024, 2023 and 2022.
| December 31,
| 2024 |  | 2023
Operating leases |  |  |
Weighted average remaining lease term (in years) | 4.6 |  | 5.5
Weighted average discount rate | 8.2 | % |  | 8.3 | %
Finance leases |  |  |
Weighted average remaining lease term (in years) | 1.8 |  | 2.8
Weighted average discount rate | 7.0 | % |  | 7.0 | %
Operating lease maturities as of December 31, 2024 were as follows:
2025 | $ | 9,824 |
2026 | 9,121 |
2029 | 7,780 |
2028 | 6,266 |
2029 | 2,274 |
Thereafter | 3,250 |
Total minimum lease payments | 38,515 |
Less: imputed interest | (6,876) |
Present value of future minimum lease payments | $ | 31,639 |
Leases | 5. Leases The Company’s operating and finance leases are primarily for corporate offices, warehouse space, rail cars and equipment. As of December 31, 2024, the Company’s leases have remaining lease terms of less than one year to 11.8 years with standard renewal and termination options available at the Company’s discretion. Certain equipment leases have purchase options at the end of the lease term, which are not included in the ROU assets, as it is not reasonably certain that the Company will exercise such options. Short-term leases, those with an initial term of 12 months or less, are not recorded on the consolidated balance sheets. The Company’s lease agreements do not contain any material residual value guarantees or restrictive covenants. The Company uses its incremental borrowing rate in determining the present value of lease payments unless the lease provides an implicit or explicit interest rate. Financial and other information related to the Company’s operating and finance leases follow:
|  | Year Ended December 31,
|  | 2024 |  | 2023 |  | 2022
Operating lease cost |  | $ | 8,584 |  |  | $ | 7,441 |  |  | $ | 7,751 |
Finance lease cost |  |  |  |  |  |
Amortization of ROU assets |  | 434 |  |  | 405 |  |  | 377 |
Interest |  | 81 |  |  | 110 |  |  | 138 |
Total lease cost |  | $ | 9,099 |  |  | $ | 7,956 |  |  | $ | 8,266 |
|  |  | December 31,
| Balance Sheet Location |  | 2024 |  | 2023
Operating leases(a) |  |  |  |  |
ROU assets | Other assets |  | $ | 31,112 |  |  | $ | 17,475 |
Lease liabilities, current | Accrued and other current liabilities |  | 7,604 |  |  | 4,499 |
Lease liabilities, non-current | Other liabilities |  | 24,035 |  |  | 14,666 |
Finance leases |  |  |  |  |
ROU assets | Property, plant and equipment, net |  | 709 |  |  | 1,078 |
Lease liabilities | Long-term debt |  | 921 |  |  | 1,355 |
(a)During the second quarter of 2024, the Company recorded an ROU asset and corresponding lease liability of $14 million related to a new warehouse lease agreement in Canada.
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Operating cash flows - cash paid for amounts included in the measurement of operating lease liabilities | $ | 8,590 |  |  | $ | 6,996 |  |  | $ | 7,694 |
Operating lease ROU assets obtained in exchange for lease liabilities | 20,134 |  |  | 7,676 |  |  | 2,975 |
Finance lease cash flows were immaterial during the years ended December 31, 2024, 2023 and 2022.
| December 31,
| 2024 |  | 2023
Operating leases |  |  |
Weighted average remaining lease term (in years) | 4.6 |  | 5.5
Weighted average discount rate | 8.2 | % |  | 8.3 | %
Finance leases |  |  |
Weighted average remaining lease term (in years) | 1.8 |  | 2.8
Weighted average discount rate | 7.0 | % |  | 7.0 | %
Operating lease maturities as of December 31, 2024 were as follows:
2025 | $ | 9,824 |
2026 | 9,121 |
2029 | 7,780 |
2028 | 6,266 |
2029 | 2,274 |
Thereafter | 3,250 |
Total minimum lease payments | 38,515 |
Less: imputed interest | (6,876) |
Present value of future minimum lease payments | $ | 31,639 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration