The Company is the lessee under financing leases primarily for land. Right-of-use assets are long-term by nature. The following table summarizes the amounts recognized on the Condensed Consolidated Balance Sheets related to lease asset and liability balances as of the periods indicated (in thousands):


	Consolidated Balance Sheet Classification	September 30, 2024		December 31, 2023
Assets
Right-of-use assets — finance leases	Other non-current assets	$	86,934	$	16,357
Liabilities
Finance lease liabilities (current)	Short-term debt and current portion of long-term debt	$	218	$	—
Finance lease liabilities (noncurrent)	Long-term debt	86,640		17,769
Total finance lease liabilities		$	86,858	$	17,769

The following table summarizes supplemental balance sheet information related to leases as of the periods indicated:

Lease Term and Discount Rate

September 30, 2024

December 31, 2023

Weighted-average remaining lease term — finance leases

36 years

35 years

Weighted-average discount rate — finance leases

5.67

5.30

Operating cash outflows from finance leases were $3.4 million and $0.0 million for the nine months ended September 30, 2024 and 2023, respectively.

The following table shows the future lease payments under finance leases together with the present value of the net lease payments as of September 30, 2024 for 2024 through 2028 and thereafter (in thousands):


	Finance Leases
2024	$	446
2025	4,446
2026	4,535
2027	4,625
2028	4,718
Thereafter	209,278
Total	$	228,048
Less: Imputed interest	(141,190)
Present value of lease payments	$	86,858

The Company is the lessor under operating leases for land, office space and operating equipment. Lease receipts from such contracts are recognized as operating lease revenue on a straight-line basis over the lease term whereas contingent rentals are recognized when earned.

The following table presents lease revenue from operating leases in which the Company is the lessor for the periods indicated (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Total lease revenue	$	358	$	455	$	1,156	$	1,275

The following table presents the underlying gross assets and accumulated depreciation of operating leases included in Property, plant and equipment, net for the periods indicated (in thousands):


Property, Plant and Equipment, Net	September 30, 2024		December 31, 2023
Gross assets	$	4,387	$	4,341
Less: Accumulated depreciation	(1,381)		(1,222)
Net assets	$	3,006	$	3,119

The option to extend or terminate a lease is based on customary early termination provisions in the contract.

The following table shows the future lease receipts as of September 30, 2024 for the remainder of 2024 through 2028 and thereafter (in thousands):


	Operating Leases
2024	$	136
2025	553
2026	554
2027	554
2028	354
Thereafter	891
Total	$	3,042