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Leases | 3 Months Ended
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Mar. 31, 2024
Leases [Abstract] |
Leases | Leases We have entered into various operating lease agreements for automobiles, offices and manufacturing facilities throughout the world. At March 31, 2024, our operating leases had remaining lease terms of up to 37 years, including any reasonably probable extensions. Lease balances within our consolidated balance sheet were as follows:
(In thousands) | March 31, 2024 |  | December 31, 2023
Assets: |  |  |
Operating lease right-of-use assets | $ | 17,239 |  |  | $ | 18,693 |
Liabilities: |  |  |
Other accrued liabilities | $ | 4,529 |  |  | $ | 4,813 |
Long-term operating lease obligations | 11,477 |  |  | 12,560 |
Total lease liabilities | $ | 16,006 |  |  | $ | 17,373 |
Operating lease expense, including variable and short-term lease costs which were insignificant to the total, operating lease cash flows and supplemental cash flow information were as follows:
(In thousands) | Three Months Ended March 31, |  |
2024 |  | 2023 |  |  |  |
Cost of sales | $ | 708 |  |  | $ | 792 |  |  |  |  |
Selling, general and administrative expenses | 1,151 |  |  | 1,076 |  |  |  |  |
Total operating lease expense | $ | 1,859 |  |  | $ | 1,868 |  |  |  |  |
Operating cash outflows from operating leases | $ | 1,745 |  |  | $ | 1,831 |  |  |  |  |
The weighted average remaining lease liability term and the weighted average discount rate were as follows:
| March 31, 2024 |  | December 31, 2023
Weighted average lease liability term (in years) | 4.9 |  | 4.9
Weighted average discount rate | 5.06 | % |  | 5.04 | %
The following table reconciles the undiscounted cash flows for each of the first five years and thereafter to the operating lease liabilities recognized in our consolidated balance sheet at March 31, 2024. The reconciliation excludes short-term leases that are not recorded on the balance sheet.
(In thousands) | March 31, 2024
2024 (remaining 9 months) | $ | 4,007 |
2025 | 4,448 |
2026 | 3,426 |
2027 | 2,681 |
2028 | 1,228 |
Thereafter | 2,479 |
Total lease payments | 18,269 |
Less: imputed interest | (2,263) |
Total lease liabilities | $ | 16,006 |
At March 31, 2024, we did not have any operating leases that had not yet commenced.

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- 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
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