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Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Cost

The following table shows lease expense for the years ended December 31:

 

(In thousands)

 

2025

 

 

2024

 

 

Income Statement Location

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of leased assets

 

$

1,704

 

 

$

1,598

 

 

Depreciation and amortization

Interest on lease liabilities

 

 

625

 

 

 

597

 

 

Interest expense, net

Operating lease expense

 

 

385

 

 

 

441

 

 

Other operations and maintenance

Total lease expense

 

$

2,714

 

 

$

2,636

 

 

 

Lease Balance Sheet

The following table shows the lease assets and liabilities on the consolidated balance sheets as of December 31:

 

(In thousands)

 

2025

 

 

2024

 

 

Balance Sheet Location

Lease assets:

 

 

 

 

 

 

 

 

Finance lease assets

 

$

15,089

 

 

$

15,611

 

 

Property, plant, and equipment, net

Operating lease assets

 

 

7,249

 

 

 

7,400

 

 

Other deferred assets and other

Total lease assets

 

$

22,338

 

 

$

23,011

 

 

 

Lease liabilities:

 

 

 

 

 

 

 

 

Finance lease liabilities - current

 

$

1,271

 

 

$

1,297

 

 

Other current liabilities

Finance lease liabilities - long-term

 

 

18,317

 

 

 

18,466

 

 

Other deferred liabilities and other

Operating lease liabilities - current

 

 

73

 

 

 

65

 

 

Other current liabilities

Operating lease liabilities - long-term

 

 

7,708

 

 

 

7,781

 

 

Other deferred liabilities and other

Total lease liabilities

 

$

27,369

 

 

$

27,609

 

 

 

 

 

Other Financial Information

The following table shows other lease information for the years ended December 31:

 

(In thousands)

 

2025

 

 

2024

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Finance leases - Financing cash flows

 

$

1,430

 

 

$

1,323

 

Finance leases - Operating cash flows

 

 

900

 

 

 

872

 

Operating leases - Operating cash flows

 

 

300

 

 

 

353

 

Lease assets obtained in exchange for lease liabilities:

 

 

 

 

 

 

Finance leases

 

 

1,254

 

 

 

1,876

 

Operating leases

 

 

 

 

 

48

 

Weighted Average And Discount Rate

The following table shows the weighted average remaining lease terms and discounts as of December 31:

 

Weighted-average remaining lease terms (in years):

 

2025

 

2024

Finance leases

 

 

36

 

 

 

 

35

 

 

Operating leases

 

 

31

 

 

 

 

32

 

 

Weighted-average discount rates:

 

 

 

 

 

 

 

 

Finance leases

 

 

4.53

 

%

 

 

4.49

 

%

Operating leases

 

 

3.10

 

%

 

3.11

 

%

Lessee Operating Lease Liability Maturity

The following table shows maturities of lease liabilities as of December 31, 2025:

 

(In thousands)

 

Finance

 

 

Operating

 

2026

 

$

2,122

 

 

$

305

 

2027

 

 

1,839

 

 

 

311

 

2028

 

 

1,043

 

 

 

317

 

2029

 

 

806

 

 

 

322

 

2030

 

 

762

 

 

 

328

 

Thereafter

 

 

39,647

 

 

 

10,884

 

Subtotal

 

 

46,219

 

 

 

12,467

 

Less: Present value discount

 

 

(26,631

)

 

 

(4,686

)

Lease liability

 

 

19,588

 

 

 

7,781

 

Less: current portion

 

 

(1,271

)

 

 

(73

)

Noncurrent lease liability

 

$

18,317

 

 

$

7,708

 

Lessee Finance Lease Liability Maturity

The following table shows maturities of lease liabilities as of December 31, 2025:

 

(In thousands)

 

Finance

 

 

Operating

 

2026

 

$

2,122

 

 

$

305

 

2027

 

 

1,839

 

 

 

311

 

2028

 

 

1,043

 

 

 

317

 

2029

 

 

806

 

 

 

322

 

2030

 

 

762

 

 

 

328

 

Thereafter

 

 

39,647

 

 

 

10,884

 

Subtotal

 

 

46,219

 

 

 

12,467

 

Less: Present value discount

 

 

(26,631

)

 

 

(4,686

)

Lease liability

 

 

19,588

 

 

 

7,781

 

Less: current portion

 

 

(1,271

)

 

 

(73

)

Noncurrent lease liability

 

$

18,317

 

 

$

7,708