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Leases | 12 Months Ended
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Dec. 31, 2023
Leases [Abstract] |
Leases | NOTE 8 — Leases A summary of finance and operating lease right-of-use assets and lease liabilities as of December 31, 2023 is as follows:
(in thousands) |  | Balance Sheet Classification |  | December 31, 2023 |  | December 31, 2022
Right-of-use assets |  |  |  |  |  |
Finance leases |  | Finance lease right-of-use assets, net |  | $ | 382,734 |  |  | $ | 247,943 |
Operating leases |  | Operating lease right-of-use assets, net |  | 199,673 |  |  | 169,302 |
Total right-of-use assets |  |  |  | $ | 582,407 |  |  | $ | 417,245 |
Lease liabilities |  |  |  |  |  |
Finance leases |  | Current portion of finance lease liabilities |  | $ | 9,482 |  |  | $ | 7,971 |
|  | Finance lease liabilities, net of current portion |  | 367,775 |  |  | 237,130 |
Operating leases |  | Current portion of operating lease liabilities |  | 10,239 |  |  | 9,317 |
|  | Operating lease liabilities, net of current portion |  | 191,419 |  |  | 161,228 |
Total lease liabilities |  |  |  | $ | 578,915 |  |  | $ | 415,646 |
The components of lease cost were as follows for the periods presented:
|  |  |  |  |  | Year Ended December 31, |  |
(in thousands) |  | Statement of Operations Classification |  |  |  |  |  | 2023 |  | 2022 |  |
Finance lease cost |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | Cost of sales |  |  |  |  |  | $ | 21,305 |  |  | $ | 11,728 |  |  |
Interest on lease liabilities |  | Interest expense |  |  |  |  |  | 17,516 |  |  | 9,263 |  |  |
Total finance lease cost |  |  |  |  |  |  |  | 38,821 |  |  | 20,991 |  |  |
Operating lease cost |  | Cost of sales |  |  |  |  |  | 19,440 |  |  | 16,465 |  |  |
Variable lease cost |  | Cost of sales |  |  |  |  |  | 5,216 |  |  | 3,979 |  |  |
Total lease cost |  |  |  |  |  |  |  | $ | 63,477 |  |  | $ | 41,435 |  |  |
Future minimum lease payments for finance and operating lease liabilities as of December 31, 2023 are as follows:
(in thousands) |  | Finance |  | Operating
2024 |  | $ | 31,006 |  |  | $ | 19,553 |
2025 |  | 33,550 |  |  | 20,181 |
2026 |  | 33,856 |  |  | 19,844 |
2027 |  | 34,533 |  |  | 18,942 |
2028 |  | 35,610 |  |  | 18,355 |
Thereafter |  | 433,244 |  |  | 191,530 |
Total |  | $ | 601,799 |  |  | $ | 288,405 |
Less: imputed interest |  | (224,542) |  |  | (86,747) |
Present value of minimum lease payments |  | 377,257 |  |  | 201,658 |
Less: current portion |  | (9,482) |  |  | (10,239) |
Lease liabilities, net of current portion |  | $ | 367,775 |  |  | $ | 191,419 |
A summary of lease terms and discount rates for finance and operating leases is as follows:
|  | December 31, 2023 | December 31, 2022
Weighted-average remaining lease term (years) |  |  |
Finance leases |  | 16.3 | 16.1
Operating leases |  | 14.7 | 14.9
Weighted-average discount rate (percentages) |  |  |
Finance leases |  | 5.9% | 5.3%
Operating leases |  | 4.9% | 4.2%
Supplemental cash flow information related to leases as of December 31, 2023 is as follows for the periods presented:
|  | Year Ended December 31, |  |
(in thousands) |  | 2023 |  | 2022 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 17,516 |  |  | $ | 9,264 |  |  |
Operating cash flows from operating leases |  | 17,167 |  |  | 16,269 |  |  |
Financing cash flows from finance leases |  | 12,432 |  |  | 5,838 |  |  |
Right-of-use assets obtained in exchange for lease obligations 1: |  |  |  |  |  |
Finance leases |  | 144,588 |  |  | 167,687 |  |  |
Operating leases |  | 40,253 |  |  | 178,138 |  |  |
________________ 1 The 2022 amounts include the transition adjustment for the adoption of ASU 2016-02, as amended.
Leases | NOTE 8 — Leases A summary of finance and operating lease right-of-use assets and lease liabilities as of December 31, 2023 is as follows:
(in thousands) |  | Balance Sheet Classification |  | December 31, 2023 |  | December 31, 2022
Right-of-use assets |  |  |  |  |  |
Finance leases |  | Finance lease right-of-use assets, net |  | $ | 382,734 |  |  | $ | 247,943 |
Operating leases |  | Operating lease right-of-use assets, net |  | 199,673 |  |  | 169,302 |
Total right-of-use assets |  |  |  | $ | 582,407 |  |  | $ | 417,245 |
Lease liabilities |  |  |  |  |  |
Finance leases |  | Current portion of finance lease liabilities |  | $ | 9,482 |  |  | $ | 7,971 |
|  | Finance lease liabilities, net of current portion |  | 367,775 |  |  | 237,130 |
Operating leases |  | Current portion of operating lease liabilities |  | 10,239 |  |  | 9,317 |
|  | Operating lease liabilities, net of current portion |  | 191,419 |  |  | 161,228 |
Total lease liabilities |  |  |  | $ | 578,915 |  |  | $ | 415,646 |
The components of lease cost were as follows for the periods presented:
|  |  |  |  |  | Year Ended December 31, |  |
(in thousands) |  | Statement of Operations Classification |  |  |  |  |  | 2023 |  | 2022 |  |
Finance lease cost |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | Cost of sales |  |  |  |  |  | $ | 21,305 |  |  | $ | 11,728 |  |  |
Interest on lease liabilities |  | Interest expense |  |  |  |  |  | 17,516 |  |  | 9,263 |  |  |
Total finance lease cost |  |  |  |  |  |  |  | 38,821 |  |  | 20,991 |  |  |
Operating lease cost |  | Cost of sales |  |  |  |  |  | 19,440 |  |  | 16,465 |  |  |
Variable lease cost |  | Cost of sales |  |  |  |  |  | 5,216 |  |  | 3,979 |  |  |
Total lease cost |  |  |  |  |  |  |  | $ | 63,477 |  |  | $ | 41,435 |  |  |
Future minimum lease payments for finance and operating lease liabilities as of December 31, 2023 are as follows:
(in thousands) |  | Finance |  | Operating
2024 |  | $ | 31,006 |  |  | $ | 19,553 |
2025 |  | 33,550 |  |  | 20,181 |
2026 |  | 33,856 |  |  | 19,844 |
2027 |  | 34,533 |  |  | 18,942 |
2028 |  | 35,610 |  |  | 18,355 |
Thereafter |  | 433,244 |  |  | 191,530 |
Total |  | $ | 601,799 |  |  | $ | 288,405 |
Less: imputed interest |  | (224,542) |  |  | (86,747) |
Present value of minimum lease payments |  | 377,257 |  |  | 201,658 |
Less: current portion |  | (9,482) |  |  | (10,239) |
Lease liabilities, net of current portion |  | $ | 367,775 |  |  | $ | 191,419 |
A summary of lease terms and discount rates for finance and operating leases is as follows:
|  | December 31, 2023 | December 31, 2022
Weighted-average remaining lease term (years) |  |  |
Finance leases |  | 16.3 | 16.1
Operating leases |  | 14.7 | 14.9
Weighted-average discount rate (percentages) |  |  |
Finance leases |  | 5.9% | 5.3%
Operating leases |  | 4.9% | 4.2%
Supplemental cash flow information related to leases as of December 31, 2023 is as follows for the periods presented:
|  | Year Ended December 31, |  |
(in thousands) |  | 2023 |  | 2022 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from finance leases |  | $ | 17,516 |  |  | $ | 9,264 |  |  |
Operating cash flows from operating leases |  | 17,167 |  |  | 16,269 |  |  |
Financing cash flows from finance leases |  | 12,432 |  |  | 5,838 |  |  |
Right-of-use assets obtained in exchange for lease obligations 1: |  |  |  |  |  |
Finance leases |  | 144,588 |  |  | 167,687 |  |  |
Operating leases |  | 40,253 |  |  | 178,138 |  |  |
________________ 1 The 2022 amounts include the transition adjustment for the adoption of ASU 2016-02, as amended.

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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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