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LEASES

12 Months Ended

Dec. 31, 2024

LEASES

LEASES

4.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 FASB ASC 842. The Company’s leases have remaining lease terms of less than one year to nine 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 for the years ended December 31, 2024, 2023 and 2022 were as follows:

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
Operating lease cost		$	15,796	​	$	12,060		$	8,641
Short-term lease cost	​	​	8,940	​		5,545	​		3,705
Variable lease cost	​	​	885	​		861	​		773
​	​	​	​	​	​	​	​	​	​
Finance leases:	​	​	​	​		​	​		​
Amortization of right-of-use assets	​	​	1,874	​		1,259	​		545
Interest on lease liabilities	​	​	227	​		255	​		24
Finance lease cost	​	​	2,101	​		1,514	​		569
​	​	​	​	​	​	​	​	​	​
Total lease cost	​	$	27,722	​	$	19,980	​	$	13,688

​

Supplemental cash flow information for the years ended December 31, 2024, 2023 and 2022 was as follows:

​

​	​	​	​	​	​	​	​	​	​
​		2024			2023			2022
Cash paid for amounts included in the measurement of lease liabilities:	​	​		​	​		​	​
Operating cash outflows from operating leases	​	$	14,980	​	$	10,634	​	$	8,164
Operating cash outflows from finance leases	​		227	​		255	​		24
Financing cash outflows from finance leases	​		8,223	​		6,346	​		2,091
​	​	​	​	​	​	​	​	​	​
ROU assets obtained in exchange for lease obligations:	​		​	​		​	​		​
Finance leases	​		6,020	​		12,010	​		1,897
Operating leases	​		9,651	​		30,342	​		22,962

​

Supplemental balance sheet information was as follows:

​

​	​	​	​	​	​	​	​	​
​	​	​	​	December 31,		​	December 31,
​		Balance Sheet Location		2024			2023
Operating leases:	​	​	​	​	​	​	​	​
Right-of-use assets	​	Other assets	​	$	55,240	​	$	58,845
​	​	​	​	​	​	​	​	​
Current lease liabilities	​	Accrued liabilities	​	$	12,530	​	$	11,088
Noncurrent lease liabilities	​	Other liabilities	​	​	43,857	​	​	48,459
Total operating lease liabilities	​	​	​	$	56,387	​	$	59,547
​	​	​	​	​	​	​	​	​
Finance leases:	​	​	​	​	​	​	​	​
Right-of-use assets	​	Property and equipment, net	​	$	6,129	​	$	11,147
​	​	​	​	​	​	​	​	​
Current lease liabilities	​	Accrued liabilities	​	$	4,211	​	$	6,449
Noncurrent lease liabilities	​	Other liabilities	​	​	38	​	​	19
Total finance lease liabilities	​	​	​	$	4,249	​	$	6,468

​

Weighted-average remaining lease term and weighted-average discount rate for the Company’s leases were as follows:

​

​	​	​	​	​	​
​	​	December 31,	​	December 31,	​
​		2024		2023
Weighted-average remaining lease term in years:	​	​	​	​	​
Operating leases		5.5		6.3	​
Finance leases	​	0.8	​	0.7	​
​	​	​	​	​	​
Weighted-average discount rate:	​	​	​	​	​
Operating leases	​	4.8	%	4.7	%
Finance leases		5.5	%	6.3	%

​

The following table outlines maturities of the Company’s lease liabilities as of December 31, 2024:

​

​	​	​	​	​	​	​
​		Undiscounted Future Lease Payments
​	​	Operating Leases			Finance Leases
2025	​	$	14,868	​	$	4,313
2026	​		11,514	​		14
2027	​		10,577	​		11
2028	​	​	8,759	​	​	11
2029	​		6,805	​		6
2030 and thereafter	​	​	11,851	​	​	—
Total lease payments	​		64,374	​		4,355
Less imputed interest	​		(7,987)	​		(106)
Total	​	$	56,387	​	$	4,249

​

As of December 31, 2024, the Company did not have any significant leases that had not yet commenced.

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