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LEASES | LEASESWe lease certain facilities, trailers, forklifts and other assets. Leases with an initial term of 12 months or less are not recorded on the balance sheet and expense related to these short-term leases was immaterial for the years ended December 31, 2022, 2021 and 2020. Variable lease expense, principally related to trucks, forklifts, and index-related facility rent escalators, was immaterial for the years ended December 31, 2022, 2021 and 2020. Leases have remaining lease terms of Lease expense, supplemental cash flow information, and other information related to leases for the years ended December 31, 2022, 2021 and 2020 were as follows:
Balance sheet information related to leases as of December 31, 2022 and 2021 was as follows:
Maturities of operating lease liabilities were as follows at December 31, 2022 (in thousands):
The Company has additional operating leases that have not yet commenced as of December 31, 2022, and therefore, approximately $11.3 million in operating lease right-of-use assets and corresponding operating lease liabilities were not included in our consolidated balance sheet at December 31, 2022. These leases will commence through the first quarter of fiscal 2023 with lease terms of 5 to 7 years.
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to seventeen years. Certain leases include options to renew for an additional term. Where there is reasonable certainty to utilize a renewal option, we include the renewal option in the lease term used to calculate operating lease right-of-use assets and lease liabilities.