Leases and Other Finance Obligations |
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| Leases and Other Finance Obligations | 9. Leases and Other Finance Obligations
Right-of-use assets and lease liabilities consisted of the following as of December 31:
Total lease costs consisted of the following for the years ended December 31:
(1) Includes short-term lease costs and sublease income which were not material for all periods presented.
Future maturities of lease liabilities as of December 31, 2024, were as follows:
Weighted average lease terms and discount rates as of December 31 were as follows:
The following table presents cash paid for amounts included in the measurement of lease liabilities for the years ended December 31:
Our lease agreements do not impose any significant restrictions or covenants on us. As of December 31, 2024, we do not have any material leases that have been signed but have not yet commenced and are not reflected on our consolidated balance sheet. Leases with related parties are not significant as of and for the years ended December 31, 2024, 2023 and 2022. Other Finance Obligations In addition to the operating and finance lease arrangements described above, the Company is party to 115 individual property lease agreements with a single lessor as of December 31, 2024. These lease agreements had initial terms ranging from to 15 years with renewal options in five-year increments providing for up to approximately 30-year total lease terms. A related agreement between the lessor and the Company gives the Company the right to acquire a limited number of the leased facilities at fair market value. These purchase rights represent a form of continuing involvement with these properties, which precluded sale-leaseback accounting. As a result, the Company treats all of the properties that it leases from this lessor as a financing arrangement. We were deemed the owner of certain of our facilities during their construction period based on an evaluation made in accordance with the Leases topic of the Codification. Effectively, a sale and leaseback of these facilities occurred when construction was completed and the lease term began. These transactions did not qualify for sale-leaseback accounting. As a result, the Company treats the lease of these facilities as a financing arrangement. As of December 31, 2024, other finance obligations consist of $190.3 million, with cash payments of $20.6 million for the year ended December 31, 2024. These other finance obligations are included on the consolidated balance sheets as part of long-term debt. The related assets are recorded as components of property, plant, and equipment on the consolidated balance sheets. Future maturities for other finance obligations as of December 31, 2024, were as follows:
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