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LEASES (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Assets and Liabilities, Lessee
Leased assets and liabilities included within the Consolidated Balance Sheets consist of the following (in thousands):
ClassificationDecember 31, 2024December 31, 2023
Right-of-Use Assets
OperatingOther assets$36,423 $32,219 
Total leased ROU assets$36,423 $32,219 
Liabilities
Current
OperatingOther accrued liabilities$11,782 $9,049 
Noncurrent
OperatingNon-current liabilities24,641 23,170 
Total lease liabilities$36,423 $32,219 
Lease, Cost
Lease costs included in the Consolidated Statements of Operations consist of the following (in thousands):
ClassificationTwelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023
Operating lease costCost of sales, selling expenses, and general and administrative expense$12,096 $8,869 
Net lease cost$12,096 $8,869 
Remaining lease term and discount rates are as follows:
December 31, 2024December 31, 2023
Weighted average remaining lease term (years)
Operating leases3.53.8
Weighted average discount rate
Operating leases5.38 %4.94 %
Lease costs included in the Consolidated Statements of Cash Flows are as follows (in thousands):
Twelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$12,130 $8,866 
Operating Lease, Liability, Maturity
Maturity of the Company’s lease liabilities for leases that have commenced is as follows (in thousands):
Operating LeasesTotal
2025$13,387 $13,387 
202612,293 12,293 
20277,335 7,335 
20283,559 3,559 
20292,112 2,112 
Thereafter1,387 1,387 
Total lease payments$40,073 $40,073 
Less: interest3,650 
Present value of lease payments$36,423 
Finance Lease, Liability, Maturity
Maturity of the Company’s lease liabilities for leases that have commenced is as follows (in thousands):
Operating LeasesTotal
2025$13,387 $13,387 
202612,293 12,293 
20277,335 7,335 
20283,559 3,559 
20292,112 2,112 
Thereafter1,387 1,387 
Total lease payments$40,073 $40,073 
Less: interest3,650 
Present value of lease payments$36,423 
Operating Lease, Lease Income
Lease income is included in Net sales on the Company’s Consolidated Statements of Operations and is recorded in the P&S operating segment. For the twelve months ended December 31, 2024 and 2023, the Company’s lease income consisted of the following components (in thousands):
Twelve Months Ended December 31, 2024Twelve Months Ended December 31, 2023
Operating lease income
Fixed lease income$2,335 $874 
Variable lease income— — 
Total lease income(1)
$2,335 $874 
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(1) As noted above, net revenue related to subleases was insignificant for all periods presented but such revenue is included in the tables above.
Lessor, Operating Lease, Payment to be Received, Maturity
The following table shows the Company’s future contractual receipts from noncancelable operating leases for the years ended December 31 as of December 31, 2024 (in thousands):
Operating Leases1
2025$2,061 
20262,061 
20271,949 
20281,567 
202999 
Thereafter— 
Total contractual receipts$7,737 
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(1) The future contractual receipts due under the Company’s full-service operating leases include amounts related to preventative maintenance, certain repairs as defined in the related agreements, and ad valorem taxes. Net revenue related to the Company’s subleases are also included in the table above.
Carrying Value of Assets Subject to Leases
The leased trailers are recorded on the Company’s Consolidated Balance Sheets within Other assets at cost, net of accumulated depreciation. Depreciation is recorded using the straightline method over the estimated useful lives of the trailers, which is generally 12 years. Revenue generating assets, net consists of the following (in thousands):
December 31, 2024December 31, 2023
Revenue generating assets$7,457 $5,650 
Less: accumulated depreciation(746)(186)
Revenue generating assets, net$6,711 $5,464