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LEASES
 12 Months Ended
Dec. 31, 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 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. The Company reviews the discount rates quarterly. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during 2025: (1) 1-2 years, 5.45% - 5.62% (2) 3-4 years, 6.04% - 6.21% (3) 5-9 years, 6.38% - 6.55% and (4) 10+ years, 7.10% - 7.27%.

Right of use assets and lease liabilities at December 31, 2025 and 2024 are summarized as follows:
Right of use assets20252024
Operating leases$14,672 $15,320 
Finance lease1,520 1,730 
Total$16,192 $17,050 
Lease liabilities - current20252024
Operating leases$3,614 $3,134 
Finance lease205 194 
Total$3,819 $3,328 
Lease liabilities - non-current20252024
Operating leases$11,324 $12,967 
Finance lease1,544 1,749 
Total$12,868 $14,716 
For the years ended December 31, 2025, 2024, and 2023, the Company's total lease costs were as follows, which included both amounts recognized in profits or losses during the period and amounts capitalized on the balance sheet, and the cash flows arising from lease transactions:
Year ended December 31,
202520242023
Lease Cost
Operating lease cost$5,444 $5,456 $5,307 
Finance Lease cost
Amortization of ROU asset210 232 242 
Interest on lease liabilities94 105 115 
Total finance lease304 337 357 
Total lease cost$5,748 $5,793 $5,664 
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$5,497 $5,454 $4,757 
Operating cash flows from finance leases94 105 115 
Financing cash flows from finance leases194 216 222 
$5,785 $5,775 $5,094 
ROU assets obtained in exchange for new operating lease liabilities, net of ROU asset disposals$3,358 $1,669 $6,365 
Weighted-average remaining lease term - operating leases5.91 years9.03 years9.33 years
Weighted-average remaining lease term - finance leases7.35 years8.37 years9.07 years
Weighted-average discount rate - operating leases6.7 %7.6 %7.4 %
Weighted-average discount rate - finance leases5.1 %5.1 %5.0 %

Rent expense charged to operations under operating lease agreements for 2025, 2024, and 2023 aggregated approximately $5,444, $5,456, and $5,307, respectively.
Aggregate future minimum rental payments required under non-cancelable operating and finance leases at December 31, 2025 are as follows:
Year 
2026$4,769 
20273,734 
20282,965 
20292,497 
20302,041 
Thereafter4,344 
   Total undiscounted lease payments20,350 
Less: Present value adjustment(3,663)
Present value of lease liabilities$16,687 
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 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. The Company reviews the discount rates quarterly. Based on the Company's risk rating, the Company applied the following discount rates for new leases entered into during 2025: (1) 1-2 years, 5.45% - 5.62% (2) 3-4 years, 6.04% - 6.21% (3) 5-9 years, 6.38% - 6.55% and (4) 10+ years, 7.10% - 7.27%.

Right of use assets and lease liabilities at December 31, 2025 and 2024 are summarized as follows:
Right of use assets20252024
Operating leases$14,672 $15,320 
Finance lease1,520 1,730 
Total$16,192 $17,050 
Lease liabilities - current20252024
Operating leases$3,614 $3,134 
Finance lease205 194 
Total$3,819 $3,328 
Lease liabilities - non-current20252024
Operating leases$11,324 $12,967 
Finance lease1,544 1,749 
Total$12,868 $14,716 
For the years ended December 31, 2025, 2024, and 2023, the Company's total lease costs were as follows, which included both amounts recognized in profits or losses during the period and amounts capitalized on the balance sheet, and the cash flows arising from lease transactions:
Year ended December 31,
202520242023
Lease Cost
Operating lease cost$5,444 $5,456 $5,307 
Finance Lease cost
Amortization of ROU asset210 232 242 
Interest on lease liabilities94 105 115 
Total finance lease304 337 357 
Total lease cost$5,748 $5,793 $5,664 
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$5,497 $5,454 $4,757 
Operating cash flows from finance leases94 105 115 
Financing cash flows from finance leases194 216 222 
$5,785 $5,775 $5,094 
ROU assets obtained in exchange for new operating lease liabilities, net of ROU asset disposals$3,358 $1,669 $6,365 
Weighted-average remaining lease term - operating leases5.91 years9.03 years9.33 years
Weighted-average remaining lease term - finance leases7.35 years8.37 years9.07 years
Weighted-average discount rate - operating leases6.7 %7.6 %7.4 %
Weighted-average discount rate - finance leases5.1 %5.1 %5.0 %

Rent expense charged to operations under operating lease agreements for 2025, 2024, and 2023 aggregated approximately $5,444, $5,456, and $5,307, respectively.
Aggregate future minimum rental payments required under non-cancelable operating and finance leases at December 31, 2025 are as follows:
Year 
2026$4,769 
20273,734 
20282,965 
20292,497 
20302,041 
Thereafter4,344 
   Total undiscounted lease payments20,350 
Less: Present value adjustment(3,663)
Present value of lease liabilities$16,687