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Leases, Codification Topic 842
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lessee, Operating Leases 4. LEASES
Tredegar has various operating lease agreements with remaining terms up to 19 years, including leases of real estate, office equipment and vehicles. As of December 31, 2024 and 2023, 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, 2024:
(In thousands)
Future Lease Payments
2025$3,121 
20262,717 
20272,316 
20282,182 
20292,205 
Thereafter5,704 
Total undiscounted operating lease payments18,245 
Less: Imputed interest2,799 
Present value of operating lease liabilities$15,446 
The following table summarizes lease costs, related cash flow and other information for the years ended December 31, 2024 and 2023. These costs are primarily related to long-term operating leases but also include amounts for variable leases and short-term leases.
(In thousands)20242023
Operating lease expense$4,350 $2,780 
Other Information:
Weighted-average remaining lease term for operating leases10 years7 years
Weighted-average discount rate for operating leases4.77 %4.28 %