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7. Leases (Notes)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Lessee, Operating Leases

7. Leases

Our lease arrangements include our corporate and administrative offices, warehouses, land for our manufacturing facilities, and certain of our manufacturing equipment. Such leases primarily relate to assets located in the United States, Malaysia, India, and Vietnam.

The following table presents certain quantitative information related to our lease arrangements for the three and nine months ended September 30, 2024 and 2023, and as of September 30, 2024 and December 31, 2023 (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	281					$	—					$	517					$	—
Interest on lease liabilities						426						—						910						—
Operating lease cost						3,749						2,980						10,198						8,931
Variable lease cost						776						512						2,208						2,528
Short-term lease cost						208						150						686						318
Total lease cost						$	5,440					$	3,642					$	14,519					$	11,777
Cash paid for amounts included in the measurement of:
Operating lease liabilities																		$	10,074					$	8,513
Finance lease liabilities																		264						—
Lease assets obtained in exchange for:
Operating lease liabilities																		$	41,772					$	1,791
Finance lease liabilities																		13,243						—
						September 30, 2024												December 31, 2023
						Operating Leases						Finance Leases						Operating Leases						Finance Leases
Lease assets						$	117,909					$	29,760					$	84,419					$	17,049
Lease liabilities – current						12,101						1,212						10,307						51
Lease liabilities – noncurrent						69,465						29,783						36,662						17,063
Weighted-average remaining lease term						9 years						28 years						5 years						40 years
Weighted-average discount rate						5.5		%				6.6		%				5.2		%				5.4		%

As of September 30, 2024, the future payments associated with our lease liabilities were as follows (in thousands):

						Operating Leases						Finance Leases
Remainder of 2024						$	4,018					$	419
2025						15,640						1,929
2026						14,000						2,798
2027						11,342						2,842
2028						11,083						2,895
2029						9,389						2,976
Thereafter						41,542						55,418
Total future payments						107,014						69,277
Less: interest						(25,448)						(38,282)
Total lease liabilities						$	81,566					$	30,995

Lessee, Finance Leases

7. Leases

Our lease arrangements include our corporate and administrative offices, warehouses, land for our manufacturing facilities, and certain of our manufacturing equipment. Such leases primarily relate to assets located in the United States, Malaysia, India, and Vietnam.

The following table presents certain quantitative information related to our lease arrangements for the three and nine months ended September 30, 2024 and 2023, and as of September 30, 2024 and December 31, 2023 (in thousands):

						Three Months Ended September 30,												Nine Months Ended September 30,
						2024						2023						2024						2023
Finance lease cost:
Amortization of right-of-use assets						$	281					$	—					$	517					$	—
Interest on lease liabilities						426						—						910						—
Operating lease cost						3,749						2,980						10,198						8,931
Variable lease cost						776						512						2,208						2,528
Short-term lease cost						208						150						686						318
Total lease cost						$	5,440					$	3,642					$	14,519					$	11,777
Cash paid for amounts included in the measurement of:
Operating lease liabilities																		$	10,074					$	8,513
Finance lease liabilities																		264						—
Lease assets obtained in exchange for:
Operating lease liabilities																		$	41,772					$	1,791
Finance lease liabilities																		13,243						—
						September 30, 2024												December 31, 2023
						Operating Leases						Finance Leases						Operating Leases						Finance Leases
Lease assets						$	117,909					$	29,760					$	84,419					$	17,049
Lease liabilities – current						12,101						1,212						10,307						51
Lease liabilities – noncurrent						69,465						29,783						36,662						17,063
Weighted-average remaining lease term						9 years						28 years						5 years						40 years
Weighted-average discount rate						5.5		%				6.6		%				5.2		%				5.4		%

As of September 30, 2024, the future payments associated with our lease liabilities were as follows (in thousands):

						Operating Leases						Finance Leases
Remainder of 2024						$	4,018					$	419
2025						15,640						1,929
2026						14,000						2,798
2027						11,342						2,842
2028						11,083						2,895
2029						9,389						2,976
Thereafter						41,542						55,418
Total future payments						107,014						69,277
Less: interest						(25,448)						(38,282)
Total lease liabilities						$	81,566					$	30,995

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- References

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/842-20/tableOfContent

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