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LEASES
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
LEASES LEASES
Leasing Arrangements as Lessee
We have lease agreements as lessee for the right to use various facilities and operational assets. Rent expense for all short-term and long-term operating leases was $2.4 million in 2023 and $2.7 million in 2022. Rent expense is included in operating expenses on our consolidated statements of operations. As of December 31, 2023, there were no arrangements accounted for as finance leases.
Our consolidated statements of financial position include the following lease components (dollars in thousands):
December 31,
2023		December 31,
2022
Operating leases
Operating lease right-of-use assets$9,072 $8,784 
Less: Accumulated amortization(2,595)(2,013)
Net operating lease right-of-use assets$6,477 $6,771 
Operating lease liabilities – current$(371)$(441)
Operating lease liabilities – noncurrent(1,396)(1,251)
Total operating lease liabilities$(1,767)$(1,692)
Operating leases
Weighted average remaining lease term (years)7.07.6
Weighted average discount rate4.68 %3.87 %
Future expected minimum lease commitments under operating leases are as follows (dollars in thousands):
Year 1$416 
Year 2257 
Year 3202 
Year 4522 
Year 5188 
Thereafter461 
Total lease payments$2,046 
Less imputed interest(279)
Total$1,767 
Leasing Arrangements as Lessor
We have lease agreements as lessor for certain operational assets. The revenue from these lease agreements of $6.7 million in 2023 and $7.1 million in 2022 are included in other operating revenue on our consolidated statements of operations.
The lease arrangement with the Springerville Partnership is not reflected in our lease right right-of-use asset or liability balances as the associated revenues and expenses are eliminated in consolidation. See Note 13—Variable Interest Entities. However, as the noncontrolling interest associated with this lease arrangement generates book-tax differences, a deferred tax asset and liability have been recorded. See Note 9—Income Taxes.
LEASES LEASES
Leasing Arrangements as Lessee
We have lease agreements as lessee for the right to use various facilities and operational assets. Rent expense for all short-term and long-term operating leases was $2.4 million in 2023 and $2.7 million in 2022. Rent expense is included in operating expenses on our consolidated statements of operations. As of December 31, 2023, there were no arrangements accounted for as finance leases.
Our consolidated statements of financial position include the following lease components (dollars in thousands):
December 31,
2023		December 31,
2022
Operating leases
Operating lease right-of-use assets$9,072 $8,784 
Less: Accumulated amortization(2,595)(2,013)
Net operating lease right-of-use assets$6,477 $6,771 
Operating lease liabilities – current$(371)$(441)
Operating lease liabilities – noncurrent(1,396)(1,251)
Total operating lease liabilities$(1,767)$(1,692)
Operating leases
Weighted average remaining lease term (years)7.07.6
Weighted average discount rate4.68 %3.87 %
Future expected minimum lease commitments under operating leases are as follows (dollars in thousands):
Year 1$416 
Year 2257 
Year 3202 
Year 4522 
Year 5188 
Thereafter461 
Total lease payments$2,046 
Less imputed interest(279)
Total$1,767 
Leasing Arrangements as Lessor
We have lease agreements as lessor for certain operational assets. The revenue from these lease agreements of $6.7 million in 2023 and $7.1 million in 2022 are included in other operating revenue on our consolidated statements of operations.
The lease arrangement with the Springerville Partnership is not reflected in our lease right right-of-use asset or liability balances as the associated revenues and expenses are eliminated in consolidation. See Note 13—Variable Interest Entities. However, as the noncontrolling interest associated with this lease arrangement generates book-tax differences, a deferred tax asset and liability have been recorded. See Note 9—Income Taxes.