Leases	9 Months Ended
Sep. 30, 2024
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 17 years. Operating lease cost totaled $362 and $372 in the third quarter of 2024 and 2023, respectively, and $1,086 and $971 for the nine months of 2024 and 2023, respectively. Cash paid for operating lease liabilities totaled $349 and $354 in the third quarter of 2024 and 2023, respectively, and $939 and $918 for the nine months of 2024 and 2023, respectively. As of September 30, 2024 and 2023, operating lease right-of-use assets were $6,313 and $5,991, respectively, and operating lease liabilities were $6,622 and $6,075, respectively. The weighted-average remaining lease term related to these operating leases was 11.0 years and 12.9 years as of September 30, 2024 and 2023, respectively. The weighted-average discount rate related to the Company’s operating leases was 3.6% and 3.4% as of September 30, 2024 and 2023, respectively. Maturities of the Company’s operating lease liabilities at September 30, 2024 are as follows: $291 in 2024 (rest of year), $1,148 in 2025, $777 in 2026, $709 in 2027, $316 in 2028 and $3,381 thereafter. The Company, as lessor, rents certain commercial real estate to third-party lessees. The September 30, 2024 and 2023 cost related to these leased properties was $51,370 and $51,370, respectively, and the accumulated depreciation related to these leased properties was $18,756 and $17,697, respectively. Terms of such leases, including renewal options, may be extended for up to fifty-six 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. Lease income in third quarter and nine months 2024 and 2023 was $1,843 and $1,341, respectively, and $5,268 and $3,784, respectively, and is classified in cash flows from operating activities. A lease with the Company as lessor commenced in the third quarter of 2024 when the tenant took occupancy as previously planned under an existing agreement. The lease has an initial term of 15 years and allows for the tenant to extend for up to 10 years. The deferred impact of initial direct costs and any deferred rent adjustments, as they are recorded, are included in long term Prepaid expense and other assets on the Consolidated Statements of Financial Position.

Leases

9 Months Ended

Sep. 30, 2024

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 17 years. Operating lease cost totaled $362 and $372 in the third quarter of 2024 and 2023, respectively, and $1,086 and $971 for the nine months of 2024 and 2023, respectively. Cash paid for operating lease liabilities totaled $349 and $354 in the third quarter of 2024 and 2023, respectively, and $939 and $918 for the nine months of 2024 and 2023, respectively. As of September 30, 2024 and 2023, operating lease right-of-use assets were $6,313 and $5,991, respectively, and operating lease liabilities were $6,622 and $6,075, respectively. The weighted-average remaining lease term related to these operating leases was 11.0 years and 12.9 years as of September 30, 2024 and 2023, respectively. The weighted-average discount rate related to the Company’s operating leases was 3.6% and 3.4% as of September 30, 2024 and 2023, respectively. Maturities of the Company’s operating lease liabilities at September 30, 2024 are as follows: $291 in 2024 (rest of year), $1,148 in 2025, $777 in 2026, $709 in 2027, $316 in 2028 and $3,381 thereafter.

The Company, as lessor, rents certain commercial real estate to third-party lessees. The September 30, 2024 and 2023 cost related to these leased properties was $51,370 and $51,370, respectively, and the accumulated depreciation related to these leased properties was $18,756 and $17,697, respectively. Terms of such leases, including renewal options, may be extended for up to fifty-six 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. Lease income in third quarter and nine months 2024 and 2023 was $1,843 and $1,341, respectively, and $5,268 and $3,784, respectively, and is classified in cash flows from operating activities.

A lease with the Company as lessor commenced in the third quarter of 2024 when the tenant took occupancy as previously planned under an existing agreement. The lease has an initial term of 15 years and allows for the tenant to extend for up to 10 years. The deferred impact of initial direct costs and any deferred rent adjustments, as they are recorded, are included in long term Prepaid expense and other assets on the Consolidated Statements of Financial Position.