Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lease, Cost

The following table provides details of our lease contracts for the three-month and nine-month periods ended September 30, 2024 and 2023 (in thousands):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost	$	9,184	$	11,307	$	28,302	$	37,369
Finance lease cost:
Amortization of right of use assets	1,653		1,686		5,318		4,466
Interest on lease liabilities	1,568		1,616		4,769		4,310
Total finance lease cost	3,221		3,302		10,087		8,776
Short-term lease cost	4,639		4,826		19,443		14,746
Variable lease cost	9,618		7,560		26,630		15,835
Total lease cost	$	26,662	$	26,995	$	84,462	$	76,726

Supplemental cash flow information related to our lease contracts for the nine-month periods ended September 30, 2024 and 2023 is as follows (in thousands):

	Nine Months Ended September 30,
	2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	26,760	$	35,364
Operating cash flows from finance leases	8,176		3,593
Financing cash flows from finance leases	3,733		1,627
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	16,595		43,907
Finance leases	6,200		46,773

Supplemental Balance Sheet Information related to Leases

Supplemental balance sheet information related to our lease contracts, including the location on balance sheet, at September 30, 2024 and December 31, 2023 is as follows (in thousands, except as noted):

	September 30, 2024			December 31, 2023
Operating leases:
Other assets	$	122,746		$	137,405
Accrued expenses	29,966			30,583
Other noncurrent liabilities	107,808			113,681
Total operating lease liabilities	137,774			144,264
Finance leases:
Net property, plant and equipment	113,350			112,438
Current portion of long-term debt(a)	5,043			9,702
Long-term debt	109,279			104,484
Total finance lease liabilities	114,322			114,186
Weighted average remaining lease term (in years):
Operating leases	12.4			12.2
Finance leases	20.3			20.7
Weighted average discount rate (%):
Operating leases	4.60		%	4.74		%
Finance leases	5.61		%	4.71		%

(a)    Balance includes accrued interest of finance lease recorded in Accrued expenses.

Lessee, Operating Lease, Liability, Maturity

Maturities of lease liabilities at September 30, 2024 were as follows (in thousands):

	Operating Leases		Finance Leases
Remainder of 2024	$	8,291	$	3,208
2025	32,404		10,830
2026	23,976		10,162
2027	18,546		10,162
2028	13,643		10,162
Thereafter	110,634		141,523
Total lease payments	207,494		186,047
Less imputed interest	69,720		71,725
Total	$	137,774	$	114,322

Finance Lease, Liability, Maturity

Maturities of lease liabilities at September 30, 2024 were as follows (in thousands):

	Operating Leases		Finance Leases
Remainder of 2024	$	8,291	$	3,208
2025	32,404		10,830
2026	23,976		10,162
2027	18,546		10,162
2028	13,643		10,162
Thereafter	110,634		141,523
Total lease payments	207,494		186,047
Less imputed interest	69,720		71,725
Total	$	137,774	$	114,322