Leases

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leases

NOTE 8. LEASES

We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our operating leases (e.g., for towers and real estate) contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year.

We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities.

The components of lease expense were as follows:

	2024		2023		2022
Operating lease cost	$	5,776	$	5,577	$	5,437
Finance lease cost:
Amortization of leased assets in property, plant and equipment	$	205	$	232	$	204
Interest on lease obligation	171		184		159
Total finance lease cost	$	376	$	416	$	363

The following table provides supplemental cash flows information related to leases:

	2024		2023		2022
Cash Flows from Operating Activities
Cash paid for amounts included in lease obligations:
Operating cash flows from operating leases	$	4,757	$	4,588	$	4,679
Supplemental Lease Cash Flow Disclosures
Operating lease right-of-use assets obtained in exchange for     new operating lease obligations	3,762		2,693		3,751

The following tables set forth supplemental balance sheet information related to leases at December 31:

	2024			2023
Operating Leases
Operating lease right-of-use assets	$	20,909		$	20,905
Accounts payable and accrued liabilities	$	3,533		$	3,524
Operating lease obligation	17,391			17,568
Total operating lease obligation	$	20,924		$	21,092
Finance Leases
Property, plant and equipment, at cost	$	2,449		$	2,828
Accumulated depreciation and amortization	(1,378)			(1,399)
Property, plant and equipment – net	$	1,071		$	1,429
Current portion of long-term debt	$	179		$	183
Long-term debt	1,237			1,655
Total finance lease obligation	$	1,416		$	1,838
	2024			2023
Weighted-Average Remaining Lease Term (years)
Operating leases	7.6			7.7
Finance leases	6.7			7.2
Weighted-Average Discount Rate
Operating leases	4.5		%	4.1		%
Finance leases	8.5		%	8.3		%

The following table provides the expected future minimum maturities of lease obligations:

At December 31, 2024	Operating Leases		Finance Leases
2025	$	4,789	$	293
2026	4,166		285
2027	3,527		284
2028	2,885		286
2029	2,130		294
Thereafter	7,978		416
Total lease payments	25,475		1,858
Less: Imputed interest	(4,551)		(442)
Total	$	20,924	$	1,416

Leases

NOTE 8. LEASES

We have operating and finance leases for certain facilities and equipment used in our operations. Our leases generally have remaining lease terms of up to 15 years. Some of our operating leases (e.g., for towers and real estate) contain renewal options that may be exercised, and some of our leases include options to terminate the leases within one year.

We have recognized a right-of-use asset for both operating and finance leases, and a corresponding lease liability that represents the present value of our obligation to make payments over the lease term. The present value of the lease payments is calculated using the incremental borrowing rate for operating and finance leases, which was determined using a portfolio approach based on the rate of interest that we would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. We use the unsecured borrowing rate and risk-adjust that rate to approximate a collateralized rate in the currency of the lease, which will be updated on a quarterly basis for measurement of new lease liabilities.

The components of lease expense were as follows:

	2024		2023		2022
Operating lease cost	$	5,776	$	5,577	$	5,437
Finance lease cost:
Amortization of leased assets in property, plant and equipment	$	205	$	232	$	204
Interest on lease obligation	171		184		159
Total finance lease cost	$	376	$	416	$	363

The following table provides supplemental cash flows information related to leases:

	2024		2023		2022
Cash Flows from Operating Activities
Cash paid for amounts included in lease obligations:
Operating cash flows from operating leases	$	4,757	$	4,588	$	4,679
Supplemental Lease Cash Flow Disclosures
Operating lease right-of-use assets obtained in exchange for     new operating lease obligations	3,762		2,693		3,751

The following tables set forth supplemental balance sheet information related to leases at December 31:

	2024			2023
Operating Leases
Operating lease right-of-use assets	$	20,909		$	20,905
Accounts payable and accrued liabilities	$	3,533		$	3,524
Operating lease obligation	17,391			17,568
Total operating lease obligation	$	20,924		$	21,092
Finance Leases
Property, plant and equipment, at cost	$	2,449		$	2,828
Accumulated depreciation and amortization	(1,378)			(1,399)
Property, plant and equipment – net	$	1,071		$	1,429
Current portion of long-term debt	$	179		$	183
Long-term debt	1,237			1,655
Total finance lease obligation	$	1,416		$	1,838
	2024			2023
Weighted-Average Remaining Lease Term (years)
Operating leases	7.6			7.7
Finance leases	6.7			7.2
Weighted-Average Discount Rate
Operating leases	4.5		%	4.1		%
Finance leases	8.5		%	8.3		%

The following table provides the expected future minimum maturities of lease obligations:

At December 31, 2024	Operating Leases		Finance Leases
2025	$	4,789	$	293
2026	4,166		285
2027	3,527		284
2028	2,885		286
2029	2,130		294
Thereafter	7,978		416
Total lease payments	25,475		1,858
Less: Imputed interest	(4,551)		(442)
Total	$	20,924	$	1,416