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Leases (Tables)
12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Schedule of Balances Included in Consolidated Statements of Financial Position Related to Leases

Amounts included in the Consolidated Statements of Financial Position related to leases were:

 

 

 

 

December 31,

 

 

December 31,

 

 

Classification

 

2025

 

 

2024

 

Assets:

 

 

 

 

 

 

 

Operating lease assets

Right of use asset - operating leases

 

$

24,818

 

 

$

30,561

 

Finance lease assets

Property, plant and equipment, net

 

 

7,185

 

 

 

7,927

 

Total lease assets

 

 

$

32,003

 

 

$

38,488

 

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

Current

Operating lease liability - short-term

 

$

6,727

 

 

$

6,597

 

Long-term

Operating lease liability - long-term

 

 

18,135

 

 

 

23,700

 

Total operating lease liabilities

 

 

 

24,862

 

 

 

30,297

 

Current

Finance lease liability - short-term

 

 

645

 

 

 

621

 

Long-term

Finance lease liability - long-term

 

 

7,349

 

 

 

7,994

 

Total finance lease liabilities

 

 

 

7,994

 

 

 

8,615

 

Total lease liabilities

 

 

$

32,856

 

 

$

38,912

 

Schedule of Lease Expense

The components of lease expense include:

 

 

 

 

 

For the Year Ended December 31,

 

Lease Cost

 

Classification

 

2025

 

 

2024

 

 

2023

 

Operating lease cost (1) (2)

 

Cost of sales

 

$

7,290

 

 

$

8,736

 

 

$

6,193

 

Operating lease cost (1) (3)

 

Selling, general and administrative expenses

 

 

4,958

 

 

 

3,880

 

 

 

3,354

 

Finance lease cost

 

 

 

 

 

 

 

 

 

 

 

Amortization expense

 

Cost of sales

 

 

741

 

 

 

741

 

 

 

720

 

Interest expense on lease liabilities

 

Interest expense, net

 

 

303

 

 

 

327

 

 

 

337

 

Total lease cost

 

 

 

$

13,292

 

 

$

13,684

 

 

$

10,604

 

(1)
Includes short-term leases and variable lease costs, which are immaterial
(2)
Operating lease costs included in Cost of sales for the year ended December 31, 2024, includes a $1.8 million termination charge related to exiting an idled lease facility, as described in Note 6
(3)
Operating lease costs included in Selling, general and administrative for the year ended December 31, 2025 include $1.6 million in termination charges related to exiting idled lease facilities, as described in Note 6
Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

 

 

 

For the Year Ended December 31,

 

Supplemental Cash Flow Information

 

2025

 

 

2024

 

 

2023

 

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

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

9,815

 

 

$

8,157

 

 

$

7,580

 

Operating cash flows from finance leases

 

$

303

 

 

$

327

 

 

$

337

 

Financing cash flows from finance leases

 

$

621

 

 

$

593

 

 

$

542

 

Right-of-use assets obtained in exchange for new lease liabilities:

 

 

 

 

 

 

 

 

 

Operating leases

 

$

2,582

 

 

$

6,919

 

 

$

6,143

 

Finance leases

 

$

 

 

$

 

 

$

313

 

 

Lease Term and Discount Rate

 

December 31, 2025

 

 

December 31, 2024

 

Weighted-average remaining lease term (years):

 

 

 

 

 

 

Operating leases

 

 

4.28

 

 

 

4.93

 

Finance leases

 

 

10.02

 

 

 

11.00

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

6.6

%

 

 

6.3

%

Finance leases

 

 

3.7

%

 

 

3.7

%

Maturity of Operating and Finance Lease Liabilities

Maturity of Lease Liabilities - As of December 31, 2025

 

Operating Leases

 

 

Finance Leases

 

 

Total

 

2026

 

$

8,091

 

 

$

924

 

 

$

9,015

 

2027

 

 

6,870

 

 

 

946

 

 

 

7,816

 

2028

 

 

5,305

 

 

 

950

 

 

 

6,255

 

2029

 

 

3,730

 

 

 

950

 

 

 

4,680

 

2030

 

 

2,051

 

 

 

933

 

 

 

2,984

 

After 2030

 

 

2,150

 

 

 

4,824

 

 

 

6,974

 

Total lease payments

 

 

28,197

 

 

 

9,527

 

 

 

37,724

 

Less: interest

 

 

(3,335

)

 

 

(1,533

)

 

 

(4,868

)

Present value of lease liabilities

 

$

24,862

 

 

$

7,994

 

 

$

32,856