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Leases, Codification Topic 842
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Lessee, Operating Leases
Tredegar has various operating lease agreements with remaining terms up to 10 years, including leases of real estate, office equipment and vehicles. As of December 31, 2022 and 2021, the Company had no finance lease agreements. Some leases include options to purchase the leased asset, terminate the agreement or extend the term of the agreement for one or more years. These options are included in the lease term when it is reasonably certain that the option will be exercised.
The following table presents a maturity analysis of the Company’s operating leases as of December 31, 2022:
(In thousands)
Future Lease Payments
2023$2,616 
20242,423 
20252,383 
20262,047 
20271,726 
Thereafter6,158 
Total undiscounted operating lease payments17,353 
Less: Imputed interest2,580 
Present value of operating lease liabilities$14,773 
The following table summarizes lease costs, related cash flow and other information for the years ended December 31, 2022 and 2021. These costs are primarily related to long-term operating leases, but also include amounts for variable leases and short-term leases.
(In thousands)20222021
Operating lease expense$2,718 $2,752 
Other Information:
Weighted-average remaining lease term for operating leases8 years7 years
Weighted-average discount rate for operating leases4.27 %4.22 %