Leased Assets and Liabilities

12 Months Ended

Dec. 31, 2024

Leases [Abstract]

Leased Assets and Liabilities

Leased Assets and Liabilities

We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:

Leases	Balance Sheet Location	December 31, 2024		December 31, 2023
Assets
Operating	Operating lease assets	$	113,357	$	126,492
Finance	Property, plant and equipment, net	31,271		25,888
Total leased assets		$	144,628	$	152,380
Liabilities
Operating	Current operating lease liabilities	$	26,912	$	29,882
	Noncurrent operating lease liabilities	100,804		126,568
Finance	Accounts payable and accrued liabilities	8,938		8,818
	Other noncurrent liabilities	23,655		25,656
Total lease liabilities		$	160,309	$	190,924

	Years Ended December 31,
Lease Cost	2024		2023		2022
Operating lease expense	$	37,640	$	46,316	$	33,069
Finance lease expense
Amortization of leased assets	8,709		6,554		1,824
Interest on lease liabilities	1,970		1,750		647
Variable lease expense	8,888		8,337		8,614
Sublease income	(335)		(466)		(744)
Total expense	$	56,872	$	62,491	$	43,410

Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.

Future Lease Payments	Operating Leases		Finance Leases		Total
2025	$	37,502	$	11,212	$	48,714
2026	32,435		9,993		42,428
2027	28,858		7,780		36,638
2028	23,742		6,224		29,966
2029	16,598		2,048		18,646
Thereafter	20,395		1,052		21,447
Total	159,530		38,309		197,839
Less: present value discount	31,814		5,716		37,530
Lease liability	$	127,716	$	32,593	$	160,309

Future lease payments exclude $1 million of payments for leases signed but not yet commenced at December 31, 2024.

Lease Term and Discount Rate	December 31, 2024	December 31, 2023
Weighted-average remaining lease term
Operating leases	5.1 years	5.3 years
Finance leases	3.9 years	7.4 years
Weighted-average discount rate
Operating leases	9.3%	8.5%
Finance leases	8.6%	13.0%

	Years Ended December 31,
Cash Flow Information	2024		2023		2022
Operating cash outflows - operating leases	$	40,775	$	40,597	$	31,618
Operating cash outflows - finance leases	$	1,970	$	1,750	$	647
Financing cash outflows - finance leases	$	5,310	$	5,442	$	4,393
Leased assets obtained in exchange for new lease obligations
Operating leases	$	11,765	$	37,204	$	65,477
Finance leases	$	12,433	$	5,509	$	18,534

Leased Assets and Liabilities

Leased Assets and Liabilities

We lease real estate and equipment under operating and finance lease agreements. Our leases have terms of up to 15 years, and may include renewal options. At lease commencement, a lease liability and corresponding right-of-use asset is recognized. Lease liabilities represent the present value of future lease payments over the expected lease term, including options to extend or terminate the lease when it is reasonably certain those options will be exercised. Lease payments include all fixed payments and variable payments tied to an index, but exclude costs such as common area maintenance charges, property taxes, insurance and mileage. The present value of the lease liability is determined using our incremental borrowing rate at lease commencement. Information regarding operating and financing leases is as follows:

Leases	Balance Sheet Location	December 31, 2024		December 31, 2023
Assets
Operating	Operating lease assets	$	113,357	$	126,492
Finance	Property, plant and equipment, net	31,271		25,888
Total leased assets		$	144,628	$	152,380
Liabilities
Operating	Current operating lease liabilities	$	26,912	$	29,882
	Noncurrent operating lease liabilities	100,804		126,568
Finance	Accounts payable and accrued liabilities	8,938		8,818
	Other noncurrent liabilities	23,655		25,656
Total lease liabilities		$	160,309	$	190,924

	Years Ended December 31,
Lease Cost	2024		2023		2022
Operating lease expense	$	37,640	$	46,316	$	33,069
Finance lease expense
Amortization of leased assets	8,709		6,554		1,824
Interest on lease liabilities	1,970		1,750		647
Variable lease expense	8,888		8,337		8,614
Sublease income	(335)		(466)		(744)
Total expense	$	56,872	$	62,491	$	43,410

Operating lease expense includes immaterial amounts related to leases with terms of 12 months or less.

Future Lease Payments	Operating Leases		Finance Leases		Total
2025	$	37,502	$	11,212	$	48,714
2026	32,435		9,993		42,428
2027	28,858		7,780		36,638
2028	23,742		6,224		29,966
2029	16,598		2,048		18,646
Thereafter	20,395		1,052		21,447
Total	159,530		38,309		197,839
Less: present value discount	31,814		5,716		37,530
Lease liability	$	127,716	$	32,593	$	160,309

Future lease payments exclude $1 million of payments for leases signed but not yet commenced at December 31, 2024.

Lease Term and Discount Rate	December 31, 2024	December 31, 2023
Weighted-average remaining lease term
Operating leases	5.1 years	5.3 years
Finance leases	3.9 years	7.4 years
Weighted-average discount rate
Operating leases	9.3%	8.5%
Finance leases	8.6%	13.0%

	Years Ended December 31,
Cash Flow Information	2024		2023		2022
Operating cash outflows - operating leases	$	40,775	$	40,597	$	31,618
Operating cash outflows - finance leases	$	1,970	$	1,750	$	647
Financing cash outflows - finance leases	$	5,310	$	5,442	$	4,393
Leased assets obtained in exchange for new lease obligations
Operating leases	$	11,765	$	37,204	$	65,477
Finance leases	$	12,433	$	5,509	$	18,534