Leases

6 Months Ended

Jun. 30, 2024

2. Leases — The Company has operating leases for warehouses, manufacturing facilities, offices, cars, railcars and certain equipment. The lease term includes the non-cancellable period of the lease plus any additional periods covered by either an option to extend (or not terminate) that the Company is reasonably certain to exercise. The Company has leases with a lease term ranging from one year to approximately 20 years.

The operating lease expense for the three months ended June 30, 2024 and 2023, was $1,955 and $1,674, respectively, and $3,891 and $3,310 for the six months ended June 30, 2024 and 2023, respectively. Lease expenses related to variable lease payments and short-term leases were immaterial. Other information related to operating leases follows:


	Three Months Ended June 30,		Three Months Ended June 30,		Six Months Ended June 30,		Six Months Ended June 30,
	2024		2023		2024		2023
Cash paid for amounts included in the measurement of lease liabilities	$	1,920	$	1,544	$	3,952	$	3,187
ROU assets obtained in exchange for new liabilities	$	1,288	$	693	$	3,669	$	2,576

The weighted-average remaining lease term and discount rate related to the operating leases as of June 30, 2024 were as follows:


Weighted-average remaining lease term (in years)	4.71
Weighted-average discount rate	4.93	%

Future minimum lease payments under non-cancellable operating leases as of June 30, 2024 were as follows:


2024 (excluding six months ended June 30, 2024)	$	4,192
2025		6,601
2026		4,959
2027		3,377
2028		2,291
Thereafter		4,676
Total lease payments		26,096
Less: imputed interest		(2,749	)
Total	$	23,347

Amounts recognized in the condensed consolidated balance sheets at June 30, 2024:


Operating lease liabilities, current	$	6,612
Operating lease liabilities, long-term	$	16,735