BOISE CASCADE Co
For the period ended Jun 30, 2024. Filed Aug 5, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 5, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
8. Leases
- Leases
Lease Costs
The components of lease expense were as follows:
| Three Months EndedJune 30 | Six Months EndedJune 30 | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (thousands) | ||||
| Operating lease cost | $3,493 | $3,264 | $6,968 | $6,581 |
| Finance lease cost | ||||
| Amortization of right-of-use assets | 624 | 619 | 1,241 | 1,237 |
| Interest on lease liabilities | 542 | 560 | 1,083 | 1,120 |
| Variable lease cost | 1,584 | 1,377 | 3,161 | 2,762 |
| Short-term lease cost | 1,350 | 1,478 | 2,814 | 3,029 |
| Sublease income | (32) | (111) | (79) | (164) |
| Total lease cost | $7,561 | $7,187 | $15,188 | $14,565 |
Other Information
Supplemental cash flow information related to leases was as follows:
| Six Months EndedJune 30 | ||
|---|---|---|
| 2024 | 2023 | |
| (thousands) | ||
| Cash paid for amounts included in the measurement of lease liabilities | ||
| Operating cash flows from operating leases | $6,470 | $6,706 |
| Operating cash flows from finance leases | 1,065 | 1,118 |
| Financing cash flows from finance leases | 952 | 904 |
| Right-of-use assets obtained in exchange for lease obligations | ||
| Operating leases | 1,955 | 3,578 |
| Finance leases | 803 | — |
Other information related to leases was as follows:
| June 30, 2024 | December 31, 2023 | |
|---|---|---|
| Weighted-average remaining lease term (years) | ||
| Operating leases | 8 | 8 |
| Finance leases | 13 | 13 |
| Weighted-average discount rate | ||
| Operating leases | 6.2% | 6.2% |
| Finance leases | 7.5% | 7.6% |
As of June 30, 2024, our minimum lease payment requirements for noncancelable operating and finance leases are as follows:
| Operating Leases · Finance Leases | ||
|---|---|---|
| (thousands) | ||
| Remainder of 2024 | $6,873 | $2,085 |
| 2025 | 13,565 | 3,834 |
| 2026 | 10,465 | 3,680 |
| 2027 | 9,713 | 3,748 |
| 2028 | 7,662 | 3,496 |
| Thereafter | 33,974 | 30,359 |
| Total future minimum lease payments | 82,252 | 47,202 |
| Less: interest | (18,644) | (17,307) |
| Total lease obligations | 63,608 | 29,895 |
| Less: current obligations | (10,438) | (2,004) |
| Long-term lease obligations | $53,170 | $27,891 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.