XML 29 R14.htm IDEA: XBRL DOCUMENT v3.24.3
LEASES
9 Months Ended
Sep. 30, 2024
Leases [Abstract]  
LEASES LEASES
We lease certain warehouse, plant and office facilities, as well as certain equipment, under non-cancelable operating and finance leases expiring at various dates through the year 2042. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term.
Amortization expense related to finance leases is included in depreciation expense, while rent expense related to operating leases is included within cost of sales and selling, research & development and administrative expenses.
The components of lease expense for the three and nine months ended September 30, 2024 and 2023 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost$4,795 $5,150 $14,530 $15,841 
Finance lease cost:
Amortization of right-of-use assets$1,715 $908 $4,976 $2,686 
Interest on lease liabilities299 289 897 883 
Total finance lease cost$2,014 $1,197 $5,873 $3,569 
Short-term lease and variable lease costs$5,255 $5,774 $15,451 $15,883 
Supplemental cash flow information related to leases were as follows:
Nine Months Ended September 30,20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,845 $15,993 
Operating cash flows from finance leases976 883 
Financing cash flows from finance leases2,305 2,377 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$31,819 $7,764 
Finance leases1,347 401 
LEASES LEASES
We lease certain warehouse, plant and office facilities, as well as certain equipment, under non-cancelable operating and finance leases expiring at various dates through the year 2042. Most of the operating leases contain renewal options and certain leases include options to purchase the related asset during or at the end of the lease term.
Amortization expense related to finance leases is included in depreciation expense, while rent expense related to operating leases is included within cost of sales and selling, research & development and administrative expenses.
The components of lease expense for the three and nine months ended September 30, 2024 and 2023 were as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
Operating lease cost$4,795 $5,150 $14,530 $15,841 
Finance lease cost:
Amortization of right-of-use assets$1,715 $908 $4,976 $2,686 
Interest on lease liabilities299 289 897 883 
Total finance lease cost$2,014 $1,197 $5,873 $3,569 
Short-term lease and variable lease costs$5,255 $5,774 $15,451 $15,883 
Supplemental cash flow information related to leases were as follows:
Nine Months Ended September 30,20242023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$14,845 $15,993 
Operating cash flows from finance leases976 883 
Financing cash flows from finance leases2,305 2,377 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$31,819 $7,764 
Finance leases1,347 401