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Leases
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases Leases
Rockwell leases its production facilities and administrative offices as well as certain equipment used in its operations including leases on transportation equipment used in the delivery of its products. The lease terms range from monthly to six years. Rockwell occupies a 51,000 square foot facility and a 17,500 square foot facility in Wixom, Michigan under a lease expiring in August 2027. Rockwell also occupies two other manufacturing facilities, a 51,000 square foot facility in Grapevine,
Texas under a lease expiring in December 2025, and a 57,000 square foot facility in Greer, South Carolina under a lease expiring February 2026. In addition, Rockwell occupied 4,100 square feet of office space in Hackensack, New Jersey under a lease expiring on October 31, 2024. This lease was subleased on December 15, 2021 with an expiration date of October 31, 2024.
The following summarizes quantitative information about the Company’s operating and finance leases (table in thousands):
Three Months Ended
March 31, 2024		Three Months Ended
March 31, 2023
Operating leases
Operating lease cost$420 $404 
Variable lease cost122 115 
Operating lease expense542 519 
Finance leases
Amortization of right-of-use assets141 141 
Interest on lease obligations32 39 
Finance lease expense173 180 
Short-term lease rent expense5 4 
Total rent expense$720 $703 
Other information
Operating cash flows from operating leases$437 $424 
Operating cash flows from finance leases$32 $39 
Financing cash flows from finance leases$138 $128 
Weighted-average remaining lease term – operating leases2.22.8
Weighted-average remaining lease term – finance leases3.24.2
Weighted-average discount rate – operating leases6.5 %6.4 %
Weighted-average discount rate – finance leases6.4 %6.4 %
Future minimum rental payments under operating and finance lease agreements are as follows (in thousands):
OperatingFinance
Year ending December 31, 2024 (remaining)$1,261 $503 
Year ending December 31, 20251,587 676 
Year ending December 31, 2026946 666 
Year ending December 31, 2027525 311 
Year ending December 31, 20282 — 
Total4,321 2,156 
Less present value discount(353)(206)
Operating and finance lease liabilities$3,968 $1,950 
Leases Leases
Rockwell leases its production facilities and administrative offices as well as certain equipment used in its operations including leases on transportation equipment used in the delivery of its products. The lease terms range from monthly to six years. Rockwell occupies a 51,000 square foot facility and a 17,500 square foot facility in Wixom, Michigan under a lease expiring in August 2027. Rockwell also occupies two other manufacturing facilities, a 51,000 square foot facility in Grapevine,
Texas under a lease expiring in December 2025, and a 57,000 square foot facility in Greer, South Carolina under a lease expiring February 2026. In addition, Rockwell occupied 4,100 square feet of office space in Hackensack, New Jersey under a lease expiring on October 31, 2024. This lease was subleased on December 15, 2021 with an expiration date of October 31, 2024.
The following summarizes quantitative information about the Company’s operating and finance leases (table in thousands):
Three Months Ended
March 31, 2024		Three Months Ended
March 31, 2023
Operating leases
Operating lease cost$420 $404 
Variable lease cost122 115 
Operating lease expense542 519 
Finance leases
Amortization of right-of-use assets141 141 
Interest on lease obligations32 39 
Finance lease expense173 180 
Short-term lease rent expense5 4 
Total rent expense$720 $703 
Other information
Operating cash flows from operating leases$437 $424 
Operating cash flows from finance leases$32 $39 
Financing cash flows from finance leases$138 $128 
Weighted-average remaining lease term – operating leases2.22.8
Weighted-average remaining lease term – finance leases3.24.2
Weighted-average discount rate – operating leases6.5 %6.4 %
Weighted-average discount rate – finance leases6.4 %6.4 %
Future minimum rental payments under operating and finance lease agreements are as follows (in thousands):
OperatingFinance
Year ending December 31, 2024 (remaining)$1,261 $503 
Year ending December 31, 20251,587 676 
Year ending December 31, 2026946 666 
Year ending December 31, 2027525 311 
Year ending December 31, 20282 — 
Total4,321 2,156 
Less present value discount(353)(206)
Operating and finance lease liabilities$3,968 $1,950