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7. Leases (Notes) | 3 Months Ended
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Mar. 31, 2025
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 months ended March 31, 2025 and 2024, and as of March 31, 2025 and December 31, 2024 (in thousands):
|  |  |  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  |  | $ | 398 |  | $ | 116
Interest on lease liabilities |  |  |  |  |  | 532 |  | 230
Operating lease cost |  |  |  |  |  | 4,115 |  | 3,221
Variable lease cost |  |  |  |  |  | 895 |  | 709
Short-term lease cost |  |  |  |  |  | 274 |  | 184
Total lease cost |  |  |  |  |  | $ | 6,214 |  | $ | 4,460
Cash paid for amounts included in the measurement of: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  |  |  |  | $ | 3,846 |  | $ | 3,001
Finance lease liabilities |  |  |  |  |  | 465 |  | 46
Lease assets obtained in exchange for operating lease liabilities |  | $ | 1,167 |  | $ | 506
|  | March 31, 2025 |  | December 31, 2024
|  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Lease assets |  | $ | 110,221 |  | $ | 28,841 |  | $ | 114,283 |  | $ | 29,262
Lease liabilities – current |  | 11,946 |  | 1,709 |  | 11,799 |  | 1,482
Lease liabilities – noncurrent |  | 62,238 |  | 29,356 |  | 66,211 |  | 29,532
Weighted-average remaining lease term |  | 9 years |  | 27 years |  | 9 years |  | 28 years
Weighted-average discount rate |  | 5.5 | % |  | 6.6 | % |  | 5.5 | % |  | 6.6 | %
As of March 31, 2025, the future payments associated with our lease liabilities were as follows (in thousands):
|  | Operating Leases |  | Finance Leases
Remainder of 2025 |  | $ | 11,446 |  |  | $ | 1,452 |
2026 |  | 14,344 |  |  | 2,785 |
2027 |  | 11,452 |  |  | 2,829 |
2028 |  | 10,880 |  |  | 2,882 |
2029 |  | 9,151 |  |  | 2,960 |
2030 |  | 3,738 |  |  | 3,001 |
Thereafter |  | 35,254 |  |  | 52,241 |
Total future payments |  | 96,265 |  |  | 68,150 |
Less: interest |  | (22,081) |  |  | (37,085) |
Total lease liabilities |  | $ | 74,184 |  |  | $ | 31,065 |
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 months ended March 31, 2025 and 2024, and as of March 31, 2025 and December 31, 2024 (in thousands):
|  |  |  |  |  | Three Months Ended March 31,
|  |  |  |  |  | 2025 |  | 2024
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  |  |  |  | $ | 398 |  | $ | 116
Interest on lease liabilities |  |  |  |  |  | 532 |  | 230
Operating lease cost |  |  |  |  |  | 4,115 |  | 3,221
Variable lease cost |  |  |  |  |  | 895 |  | 709
Short-term lease cost |  |  |  |  |  | 274 |  | 184
Total lease cost |  |  |  |  |  | $ | 6,214 |  | $ | 4,460
Cash paid for amounts included in the measurement of: |  |  |  |  |  |  |  |
Operating lease liabilities |  |  |  |  |  | $ | 3,846 |  | $ | 3,001
Finance lease liabilities |  |  |  |  |  | 465 |  | 46
Lease assets obtained in exchange for operating lease liabilities |  | $ | 1,167 |  | $ | 506
|  | March 31, 2025 |  | December 31, 2024
|  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Lease assets |  | $ | 110,221 |  | $ | 28,841 |  | $ | 114,283 |  | $ | 29,262
Lease liabilities – current |  | 11,946 |  | 1,709 |  | 11,799 |  | 1,482
Lease liabilities – noncurrent |  | 62,238 |  | 29,356 |  | 66,211 |  | 29,532
Weighted-average remaining lease term |  | 9 years |  | 27 years |  | 9 years |  | 28 years
Weighted-average discount rate |  | 5.5 | % |  | 6.6 | % |  | 5.5 | % |  | 6.6 | %
As of March 31, 2025, the future payments associated with our lease liabilities were as follows (in thousands):
|  | Operating Leases |  | Finance Leases
Remainder of 2025 |  | $ | 11,446 |  |  | $ | 1,452 |
2026 |  | 14,344 |  |  | 2,785 |
2027 |  | 11,452 |  |  | 2,829 |
2028 |  | 10,880 |  |  | 2,882 |
2029 |  | 9,151 |  |  | 2,960 |
2030 |  | 3,738 |  |  | 3,001 |
Thereafter |  | 35,254 |  |  | 52,241 |
Total future payments |  | 96,265 |  |  | 68,150 |
Less: interest |  | (22,081) |  |  | (37,085) |
Total lease liabilities |  | $ | 74,184 |  |  | $ | 31,065 |

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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 + Details
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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 + Details
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