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LEASES | 6 Months Ended
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Jun. 30, 2024
LEASES |
LEASES |
3. | LEASES
The Company leases identified assets consisting primarily of office and warehouse space, warehouse equipment and vehicles. Leases are classified as either finance leases or operating leases based on criteria in ASC 842, “Leases”. The Company’s leases have remaining lease terms of less than one year to 10 years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. The components of lease cost were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three-Months Ended June 30, | ​ | Six-Months Ended June 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost | ​ | $ | 3,888 | ​ | $ | 2,616 | ​ | $ | 7,690 | ​ | $ | 5,083
Short-term lease cost | ​ |  | 2,151 | ​ |  | 1,070 | ​ |  | 4,821 | ​ |  | 2,049
Variable lease cost | ​ |  | 228 | ​ |  | 226 | ​ |  | 441 | ​ |  | 441
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance leases: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ |  | 489 | ​ |  | 202 | ​ |  | 1,084 | ​ |  | 325
Interest on lease liabilities | ​ |  | 57 | ​ |  | 44 | ​ |  | 148 | ​ |  | 58
Finance lease cost | ​ |  | 546 | ​ |  | 246 | ​ |  | 1,232 | ​ |  | 383
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total lease cost | ​ | $ | 6,813 | ​ | $ | 4,158 | ​ | $ | 14,184 | ​ | $ | 7,956
​ Supplemental cash flow information was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Six-Months Ended June 30,
​ |  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Operating cash outflows from operating leases | ​ | $ | 7,355 | ​ | $ | 4,818
Operating cash outflows from finance leases | ​ | ​ | 148 | ​ | ​ | 58
Financing cash outflows from finance leases | ​ | ​ | 5,267 | ​ | ​ | 1,683
​ | ​ | ​ | ​ | ​ | ​ | ​
Right-of-use assets obtained in exchange for lease obligations: | ​ | ​ | ​ | ​ | ​ | ​
Finance leases | ​ | ​ | 987 | ​ | ​ | 5,115
Operating leases | ​ | ​ | 3,704 | ​ | ​ | 1,847
​ Supplemental balance sheet information was as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | June 30, |  | December 31,
​ | ​ | Balance Sheet Location | ​ | 2024 | ​ | 2023
Operating leases: |  |  |  | ​ |  |  | ​ |
Right-of-use assets |  | Other assets | ​ | $ | 55,731 | ​ | $ | 58,845
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current lease liabilities |  | Accrued liabilities | ​ | $ | 11,105 | ​ | $ | 11,088
Noncurrent lease liabilities |  | Other liabilities | ​ |  | 45,862 | ​ |  | 48,459
Total operating lease liabilities |  |  | ​ | $ | 56,967 | ​ | $ | 59,547
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Finance leases: |  |  | ​ |  |  | ​ |  |
Right-of-use assets |  | Property and equipment, net | ​ | $ | 7,722 | ​ | $ | 11,147
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current lease liabilities |  | Accrued liabilities | ​ | $ | 2,167 | ​ | $ | 6,449
Noncurrent lease liabilities |  | Other liabilities | ​ |  | 10 | ​ |  | 19
Total finance lease liabilities |  |  | ​ | $ | 2,177 | ​ | $ | 6,468
​ Weighted-average remaining lease term and weighted-average discount rate for the Company’s leases were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, |  | December 31, | ​
​ |  | 2024 |  | 2023 |
Weighted-average remaining lease term in years: | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | 6.0 |  | 6.3 | ​
Finance leases | ​ | 0.4 | ​ | 0.7 | ​
​ | ​ | ​ | ​ | ​ | ​
Weighted-average discount rate: | ​ | ​ | ​ | ​ | ​
Operating leases | ​ | 4.7 | % | 4.7 | %
Finance leases | ​ | 6.3 | % | 6.3 | %
​ The following table outlines maturities of the Company’s lease liabilities as of June 30, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Undiscounted Future Lease Payments
​ |  | Operating Leases |  | Finance Leases
2024 (from July 1, 2024 to December 31, 2024) | ​ | $ | 6,779 | ​ | $ | 2,000
2025 | ​ |  | 12,617 | ​ |  | 211
2026 | ​ |  | 10,356 | ​ |  | 2
2027 | ​ |  | 9,633 | ​ |  | —
2028 | ​ | ​ | 8,089 | ​ | ​ | —
2029 and thereafter | ​ |  | 18,295 | ​ |  | —
Total lease payments | ​ |  | 65,769 | ​ |  | 2,213
Less imputed interest | ​ |  | (8,802) | ​ |  | (36)
Total | ​ | $ | 56,967 | ​ | $ | 2,177
​ As of June 30, 2024, the Company did not have any significant leases that had not yet commenced.

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