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LEASES
 9 Months Ended
Sep. 30, 2025
Leases [Abstract]  
LEASES LEASES
The Company has both real estate leases and equipment leases. The main types of equipment leases include forklifts, trailers, printers and copiers, railcars, and trucks. Leases are categorized as both operating leases and finance leases. The Company elected the practical expedient to combine lease and non-lease components and recognizes the combined amount on the condensed consolidated balance sheet. Management determined that since the Company has a centralized treasury function, the parent company would either fund or guarantee a subsidiary's loan for borrowing over a similar term. As such, the Company's management determined it is appropriate to utilize a corporate based borrowing rate for all locations. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the third quarter of 2025: (1) 1-2 years, 5.61% (2) 3-4 years, 6.20% (3) 5-9 years, 6.54% and (4) 10+ years, 7.26%.
Right of use assets and lease liabilities at September 30, 2025 and December 31, 2024 are summarized as follows:

Right of use assetsSeptember 30, 2025December 31, 2024
Operating leases$15,916 $15,320 
Finance leases1,573 1,730 
Total$17,489 $17,050 

Lease liabilities - currentSeptember 30, 2025December 31, 2024
Operating leases$3,943 $3,134 
Finance leases202 194 
Total$4,145 $3,328 

Lease liabilities - non-currentSeptember 30, 2025December 31, 2024
Operating leases$12,257 $12,967 
Finance leases1,596 1,749 
Total$13,853 $14,716 
For the three and nine months ended September 30, 2025 and 2024, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Lease Cost
Operating lease cost$1,407 $1,365 $4,100 $4,057 
Finance lease cost
Amortization of ROU asset53 59 157 179 
Interest on lease liabilities23 25 71 79 
Total finance lease76 84 228 258 
Total lease cost$1,483 $1,449 $4,328 $4,315 
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$1,400 $1,362 $4,142 $4,056 
Operating cash flows from finance leases23 25 71 79 
Financing cash flows from finance leases48 58 145 169 
$1,471 $1,445 $4,358 $4,304 
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed$1,397 $61 $3,254 $1,225 
Weighted-average remaining lease term - operating leases5.71 years9.18 years5.71 years9.18 years
Weighted-average remaining lease term - finance leases7.61 years8.62 years7.61 years8.62 years
Weighted-average discount rate - operating leases6.6 %7.6 %6.6 %7.6 %
Weighted-average discount rate - finance leases5.1 %5.1 %5.1 %5.1 %
Rent expense charged to operations under operating lease agreements for the three and nine months ended September 30, 2025 aggregated to approximately $1,407 and $4,100, respectively, and $1,365 and $4,057 for the three and nine months ended September 30, 2024, respectively.
Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at September 30, 2025 are as follows:

Year 
October 1, 2025 to December 31, 2025$1,444 
20265,211 
20273,767 
20283,001 
20292,533 
20302,078 
Thereafter4,737 
Total minimum lease payments$22,771 
LEASES LEASES
The Company has both real estate leases and equipment leases. The main types of equipment leases include forklifts, trailers, printers and copiers, railcars, and trucks. Leases are categorized as both operating leases and finance leases. The Company elected the practical expedient to combine lease and non-lease components and recognizes the combined amount on the condensed consolidated balance sheet. Management determined that since the Company has a centralized treasury function, the parent company would either fund or guarantee a subsidiary's loan for borrowing over a similar term. As such, the Company's management determined it is appropriate to utilize a corporate based borrowing rate for all locations. The Company developed four tranches of leases based on lease terms and these tranches reflect the composition of the current lease portfolio. The Company's borrowing history shows that interest rates of a term loan or a line of credit depend on the duration of the loan rather than the nature of the assets purchased by those funds. Based on this understanding, the Company elected to use a portfolio approach to discount rates, applying corporate rates to the tranches of leases based on lease terms. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during the third quarter of 2025: (1) 1-2 years, 5.61% (2) 3-4 years, 6.20% (3) 5-9 years, 6.54% and (4) 10+ years, 7.26%.
Right of use assets and lease liabilities at September 30, 2025 and December 31, 2024 are summarized as follows:

Right of use assetsSeptember 30, 2025December 31, 2024
Operating leases$15,916 $15,320 
Finance leases1,573 1,730 
Total$17,489 $17,050 

Lease liabilities - currentSeptember 30, 2025December 31, 2024
Operating leases$3,943 $3,134 
Finance leases202 194 
Total$4,145 $3,328 

Lease liabilities - non-currentSeptember 30, 2025December 31, 2024
Operating leases$12,257 $12,967 
Finance leases1,596 1,749 
Total$13,853 $14,716 
For the three and nine months ended September 30, 2025 and 2024, the Company's total lease costs were as follows, which included amounts recognized in earnings, amounts capitalized on the balance sheets, and the cash flows arising from lease transactions:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2025202420252024
Lease Cost
Operating lease cost$1,407 $1,365 $4,100 $4,057 
Finance lease cost
Amortization of ROU asset53 59 157 179 
Interest on lease liabilities23 25 71 79 
Total finance lease76 84 228 258 
Total lease cost$1,483 $1,449 $4,328 $4,315 
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$1,400 $1,362 $4,142 $4,056 
Operating cash flows from finance leases23 25 71 79 
Financing cash flows from finance leases48 58 145 169 
$1,471 $1,445 $4,358 $4,304 
Right-of-use assets obtained in exchange for new operating lease liabilities, net of right-of-use assets disposed$1,397 $61 $3,254 $1,225 
Weighted-average remaining lease term - operating leases5.71 years9.18 years5.71 years9.18 years
Weighted-average remaining lease term - finance leases7.61 years8.62 years7.61 years8.62 years
Weighted-average discount rate - operating leases6.6 %7.6 %6.6 %7.6 %
Weighted-average discount rate - finance leases5.1 %5.1 %5.1 %5.1 %
Rent expense charged to operations under operating lease agreements for the three and nine months ended September 30, 2025 aggregated to approximately $1,407 and $4,100, respectively, and $1,365 and $4,057 for the three and nine months ended September 30, 2024, respectively.
Aggregate future minimum rental payments required under all non-cancelable operating and finance leases at September 30, 2025 are as follows:

Year 
October 1, 2025 to December 31, 2025$1,444 
20265,211 
20273,767 
20283,001 
20292,533 
20302,078 
Thereafter4,737 
Total minimum lease payments$22,771