Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In thousands, except percentage and year amounts)			2022			2021
Lease cost:
	Operating lease cost recognized as rent expense		$	14,970		$	14,230
	Total lease cost		$	14,970		$	14,230
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	14,906		$	14,440
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	6,418		$	21,857
	Right-of-use assets obtained in acquisitions		$	—		$	4,795
			December 31,
			2022			2021
Weighted-average remaining lease term (in years):
	Operating leases		14			14
Weighted-average discount rate:
	Operating leases		2.66		%	2.49		%

Rent expense was $15.0 million, $14.2 million and $13.0 million in 2022, 2021 and 2020, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2022, future lease payments under operating leases were as follows:

(In thousands)	Operating Leases
2023	$	10,043
2024	7,480
2025	5,200
2026	4,061
2027	3,428
After 2027	22,031
	$	52,243
Less: Imputed interest	7,938
Present value of operating lease liabilities	44,305
Less: Current portion operating lease liabilities(a)	8,960
Noncurrent operating lease liabilities	$	35,345

(a) Included in Accrued restructuring and other current liabilities on the Consolidated Balance Sheets.

Leases

Leases

As a lessee, we have various operating lease agreements primarily related to real estate, vehicles and office and plant equipment. The components of lease expense were as follows:

			Year Ended December 31,
(In thousands, except percentage and year amounts)			2022			2021
Lease cost:
	Operating lease cost recognized as rent expense		$	14,970		$	14,230
	Total lease cost		$	14,970		$	14,230
		Other Information
Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows related to operating leases		$	14,906		$	14,440
Non-cash other information:
	Right-of-use assets obtained in exchange for new operating lease liabilities		$	6,418		$	21,857
	Right-of-use assets obtained in acquisitions		$	—		$	4,795
			December 31,
			2022			2021
Weighted-average remaining lease term (in years):
	Operating leases		14			14
Weighted-average discount rate:
	Operating leases		2.66		%	2.49		%

Rent expense was $15.0 million, $14.2 million and $13.0 million in 2022, 2021 and 2020, respectively. We did not have any lease transactions with related parties. We did not have any significant leases not yet commenced.

At December 31, 2022, future lease payments under operating leases were as follows:

(In thousands)	Operating Leases
2023	$	10,043
2024	7,480
2025	5,200
2026	4,061
2027	3,428
After 2027	22,031
	$	52,243
Less: Imputed interest	7,938
Present value of operating lease liabilities	44,305
Less: Current portion operating lease liabilities(a)	8,960
Noncurrent operating lease liabilities	$	35,345

(a) Included in Accrued restructuring and other current liabilities on the Consolidated Balance Sheets.