COMMITMENTS AND CONTINGENCIES (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of lease cost and other information

Following are components of our lease costs (in thousands):


	Three months ended				Nine months ended
	September 30,				September 30,
	2025		2024		2025		2024
Operating leases	$	1,341	$	1,511	$	4,005	$	4,343
Variable lease costs (including insignificant short-term leases)		469		431		1,299		1,314
Sublease income as primary obligor		(182)		(286)		(530)		(838)
Total lease costs	$	1,628	$	1,656	$	4,774	$	4,819

Other information related to our operating leases was as follows (in thousands, except lease term and discount rate):


	Three months ended				Nine months ended
	September 30,				September 30,
	2025		2024		2025		2024
Cash outflows for operating leases	$	1,135	$	1,268	$	4,222	$	3,887
Weighted average remaining lease term (years)		27.17		27.69		27.17		27.69
Weighted average discount rate		4.7%		4.5%		4.7%		4.5%

Schedule of future minimum lease payments

Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of September 30, 2025 and related imputed interest was as follows (in thousands):


Years ending December 31:
2025 (remainder of the year)	$	1,033
2026		3,565
2027		4,534
2028		4,087
2029		3,460
Thereafter		67,346
Total lease payments ⁽¹⁾		84,025
Less imputed interest		(35,698)
Present value of operating lease liabilities	$	48,327

(1)

In October 2025, we entered into an approximately two-year land lease agreement with annual payments of approximately $12.6 million. The lease can be terminated by either party upon no less than six months’ notice prior to the end of the lease term. The lease will be accounted for as an operating lease under ASC 842.

TransMontaigne Partners LLC 10-Q