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Leases (Tables)
3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Schedule of Lease Cost Recognized in both Cost of Sale and Operating Expenses

Lease cost is recognized in both the Cost of Sales and Operating Expenses sections of the Condensed Consolidated Statements of Income.

 

(In thousands)

 

Three Months Ended
March 31,

 

 

 

2025

 

 

2024

 

Lease Cost

 

 

 

 

 

 

Operating lease cost

 

$

4,762

 

 

$

4,493

 

Short-term lease cost

 

 

2,518

 

 

 

2,687

 

Variable lease cost

 

 

375

 

 

 

443

 

Total lease cost

 

$

7,655

 

 

$

7,623

 

Other Information

 

 

 

 

 

 

Cash paid for amounts included in the
   measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flow from operating leases

 

$

4,776

 

 

$

4,488

 

Right-of-use assets obtained in exchange
   for new operating lease liabilities

 

 

222

 

 

 

989

 

Schedule of Maturities of Lease Liabilities

The following table outlines the maturities of lease liabilities as of March 31, 2025.

 

(In thousands)

 

 

 

Undiscounted Cash Flows:

 

 

 

2025 (excluding the three months ended March 31, 2025)

 

$

13,800

 

2026

 

 

13,621

 

2027

 

 

10,467

 

2028

 

 

8,190

 

2029

 

 

7,567

 

Subsequent to 2029

 

 

30,106

 

Total Undiscounted Cash Flows

 

$

83,751

 

Less: Imputed interest

 

 

(11,772

)

Present value

 

$

71,979

 

Current operating lease liabilities (1)

 

 

15,019

 

Non-current operating lease liabilities

 

 

56,960

 

Total lease liabilities

 

$

71,979

 

(1)
This item is included in the Accrued liabilities line on the Company’s Condensed Consolidated Balance Sheet.
Schedule of Operating Leases Weighted Average, Remaining Lease Term and Discount Rate

Weighted-average remaining lease term-operating leases

 

8 Years

 

Weighted-average discount rate-operating leases

 

 

4.0

%