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Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
The Company's leases are classified as operating leases and consist of manufacturing facilities, distribution centers, office space, vehicles and equipment.
Most of the Company's leases include one or more options to renew, with renewal terms that can extend the respective lease term from one month to ten years. The exercise of lease renewal options is at the Company's sole discretion. As of December 31, 2024 and 2023, the Company's renewal options are not part of the Company's operating lease assets and operating lease liabilities. Certain leases also include options to purchase at fair value the underlying leased asset at the Company's sole discretion.
The components of lease costs for the years ended December 31 were as follows (in thousands):
202420232022
Operating lease cost$16,370 $12,940 $11,191 
Short-term lease cost5,679 4,645 5,694 
Total lease cost$22,049 $17,585 $16,885 
Information related to the Company's operating right-of-use assets and related operating lease liabilities for the years ended December 31 were as follows (in thousands):
202420232022
Cash paid for amounts included in the measurement of operating liabilities$12,876 $10,628 $8,835 
Right-of-use assets obtained in exchange for new lease liabilities$10,939 $27,468 $17,008 
Information related to the Company's lease terms and discount rates as of December 31 were as follows:
20242023
Weighted-average remaining lease term - operating leases5.8years6.6years
Weighted-average discount rate - operating leases5.2%5.0%
The future maturity of the Company's lease liabilities as of December 31, 2024 were as follows (in thousands):
2025$13,571 
202610,959 
20276,013 
20285,165 
20294,698 
After 202913,753 
Total lease payments54,159 
Less: present value discount(7,561)
Present value of lease liabilities$46,598 
The Company uses its incremental borrowing rate based on information available at the commencement date of a lease in determining the present value of lease payments as the rates implicit in most of the Company's leases are not readily determinable.