Leases	9 Months Ended
Sep. 30, 2023
Leases
Leases	Note 11 — Leases The Company leases certain buildings, land and equipment that are classified as operating leases. These leases have remaining lease terms of up to approximately 18 years. Operating lease cost totaled $372 and $231 in the third quarter of 2023 and 2022, respectively, and $971 and $783 for the nine months of 2023 and 2022, respectively. Cash paid for operating lease liabilities totaled $354 and $275 in the third quarter of 2023 and 2022, respectively, and $918 and $813 for the nine months of 2023 and 2022, respectively, and is presented in cash flows from operating activities. As of September 30, 2023 and 2022, operating lease right-of-use assets were $5,991 and $4,746, respectively, and operating lease liabilities were $6,075 and $4,769, respectively. The weighted-average remaining lease term related to these operating leases was 12.9 years and 16.1 years as of September 30, 2023 and 2022, respectively. The weighted-average discount rate related to the Company’s operating leases was 3.4% and 3.3% as of September 30, 2023 and 2022, respectively. Maturities of the Company’s operating lease liabilities at September 30, 2023 are as follows: $242 in 2023 (rest of year), $821 in 2024, $702 in 2025, $428 in 2026, $320 in 2027 and $3,562 thereafter. The Company, as lessor, rents certain commercial real estate to third-party lessees. The September 30, 2023 and 2022 cost related to these leased properties was $51,370 and $51,370, respectively, and the accumulated depreciation related to these leased properties was $17,697 and $16,638, respectively. Terms of such leases, including renewal options, may be extended for up to fifty-seven years, many of which provide for periodic adjustment of rent payments based on changes in consumer or other price indices. The Company recognizes lease income on a straight-line basis over the lease term and is classified in cash flows from operating activities. Lease income in third quarter 2023 and 2022 was $1,341 and $1,233, respectively, and for nine months 2023 and 2022 was $3,784 and $3,691, respectively. On August 22, 2023, the Company, as lessee, amended an existing lease agreement to use warehouse space that will commence in the fourth quarter of 2023. The lease amendment secures the balance of the adjacent space in the same industrial building where the Company leases warehouse space under an existing lease that commenced in the second quarter of 2023. The lease amendment is coterminous with the original lease with a remaining term of 4.5 years.

Leases

9 Months Ended

Sep. 30, 2023

Note 11 — Leases

The Company leases certain buildings, land and equipment that are classified as operating leases. These leases have remaining lease terms of up to approximately 18 years. Operating lease cost totaled $372 and $231 in the third quarter of 2023 and 2022, respectively, and $971 and $783 for the nine months of 2023 and 2022, respectively. Cash paid for operating lease liabilities totaled $354 and $275 in the third quarter of 2023 and 2022, respectively, and $918 and $813 for the nine months of 2023 and 2022, respectively, and is presented in cash flows from operating activities. As of September 30, 2023 and 2022, operating lease right-of-use assets were $5,991 and $4,746, respectively, and operating lease liabilities were $6,075 and $4,769, respectively. The weighted-average remaining lease term related to these operating leases was 12.9 years and 16.1 years as of September 30, 2023 and 2022, respectively. The weighted-average discount rate related to the Company’s operating leases was 3.4% and 3.3% as of September 30, 2023 and 2022, respectively. Maturities of the Company’s operating lease liabilities at September 30, 2023 are as follows: $242 in 2023 (rest of year), $821 in 2024, $702 in 2025, $428 in 2026, $320 in 2027 and $3,562 thereafter.

The Company, as lessor, rents certain commercial real estate to third-party lessees. The September 30, 2023 and 2022 cost related to these leased properties was $51,370 and $51,370, respectively, and the accumulated depreciation related to these leased properties was $17,697 and $16,638, respectively. Terms of such leases, including renewal options, may be extended for up to fifty-seven years, many of which provide for periodic adjustment of rent payments based on changes in consumer or other price indices. The Company recognizes lease income on a straight-line basis over the lease term and is classified in cash flows from operating activities. Lease income in third quarter 2023 and 2022 was $1,341 and $1,233, respectively, and for nine months 2023 and 2022 was $3,784 and $3,691, respectively.

On August 22, 2023, the Company, as lessee, amended an existing lease agreement to use warehouse space that will commence in the fourth quarter of 2023. The lease amendment secures the balance of the adjacent space in the same industrial building where the Company leases warehouse space under an existing lease that commenced in the second quarter of 2023. The lease amendment is coterminous with the original lease with a remaining term of 4.5 years.