Annual report [Section 13 and 15(d), not S-K Item 405]

Leases

v3.25.4
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The components of lease costs for the years ended December 31, 2025, 2024, and 2023 are as follows (dollars in thousands):
Year Ended December 31,
2025 2024 2023
Operating leases costs $ 3,583  $ 3,937  $ 3,906 
Short-term lease costs 31  309  335 
Total lease costs $ 3,614  $ 4,246  $ 4,241 
The following table includes supplemental information:
December 31,
2025 2024 2023
Weighted-average remaining operating lease term (in years) 10.6 9.6 9.5
Weighted-average operating lease discount rate 4.75% 4.59% 4.48%
Cash paid related to operating lease liabilities was $3,876 for the year ended December 31, 2025.
The total operating lease liability arising from ROU assets was $27,303 for the year ended December 31, 2025.
Finance lease assets are recorded in “Property, plant, and equipment, net” with the corresponding finance lease liabilities on the consolidated balance sheets.
Minimum future maturities of operating lease liabilities as of December 31, 2025 were as follows (dollars in thousands):
2026 $ 3,681 
2027 3,590 
2028 3,483 
2029 3,481 
2030 3,195 
Thereafter 17,559 
Total lease payments 34,989 
Less imputed interest (7,686)
Total $ 27,303 
We have not entered into any operating leases that have not yet commenced as of December 31, 2025.
As discussed in Note 4, Property, Plant and Equipment, Net, the Company recognized a total impairment loss on right of use assets related to our BRCC Outposts during the fourth quarter of 2025 and 2024 of $1,633 and $2,600, respectively. This total loss on impairment of assets is presented within “Other operating expense, net” in the consolidated statements of operations.
Leases Leases
The components of lease costs for the years ended December 31, 2025, 2024, and 2023 are as follows (dollars in thousands):
Year Ended December 31,
2025 2024 2023
Operating leases costs $ 3,583  $ 3,937  $ 3,906 
Short-term lease costs 31  309  335 
Total lease costs $ 3,614  $ 4,246  $ 4,241 
The following table includes supplemental information:
December 31,
2025 2024 2023
Weighted-average remaining operating lease term (in years) 10.6 9.6 9.5
Weighted-average operating lease discount rate 4.75% 4.59% 4.48%
Cash paid related to operating lease liabilities was $3,876 for the year ended December 31, 2025.
The total operating lease liability arising from ROU assets was $27,303 for the year ended December 31, 2025.
Finance lease assets are recorded in “Property, plant, and equipment, net” with the corresponding finance lease liabilities on the consolidated balance sheets.
Minimum future maturities of operating lease liabilities as of December 31, 2025 were as follows (dollars in thousands):
2026 $ 3,681 
2027 3,590 
2028 3,483 
2029 3,481 
2030 3,195 
Thereafter 17,559 
Total lease payments 34,989 
Less imputed interest (7,686)
Total $ 27,303 
We have not entered into any operating leases that have not yet commenced as of December 31, 2025.
As discussed in Note 4, Property, Plant and Equipment, Net, the Company recognized a total impairment loss on right of use assets related to our BRCC Outposts during the fourth quarter of 2025 and 2024 of $1,633 and $2,600, respectively. This total loss on impairment of assets is presented within “Other operating expense, net” in the consolidated statements of operations.