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Lease Obligations | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Lease Obligations |
9. | LEASE OBLIGATIONS
The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Operating lease cost | $ | 4,954 |  |  | $ | 2,693 |  |  |  |  |
Short-term lease cost | $ | 4,375 |  |  | $ | 3,168 |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 37 |  |  | $ | 41 |  |  |  |  |
Interest on lease liabilities | 2 |  |  | 4 |  |  |  |  |
Total finance lease cost | $ | 39 |  |  | $ | 45 |  |  |  |  |
Supplemental cash flow information related to leases is as follows:
| Three Months Ended March 31, |  |
Cash paid for amounts included in the measurement of lease liabilities: | 2023 |  | 2022 |  |
Operating cash flows from operating leases | $ | 4,788 |  |  | $ | 2,991 |  |  |
Operating cash flows from finance leases | $ | 2 |  |  | $ | 4 |  |  |
Financing cash flows from finance leases | $ | 37 |  |  | $ | 41 |  |  |
Right-of-use assets obtained in exchange for lease obligations (non-cash): |  |  |  |  |
Operating leases | $ | 6,956 |  |  | $ | 15,897 |  |  |
Finance leases | $ | — |  |  | $ | — |  |  |
Supplemental balance sheet information related to leases is as follows:
Operating Leases | March 31, 2023 |  | December 31, 2022
Operating lease right-of-use assets | $ | 62,278 |  |  | $ | 59,415 |
Current portion of long-term lease obligations | $ | 17,376 |  |  | $ | 19,715 |
Long-term lease obligations | 45,164 |  |  | 40,103 |
Total operating lease liabilities | $ | 62,540 |  |  | $ | 59,818 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 1,479 |  |  | $ | 1,479 |
Accumulated depreciation | (1,090) |  |  | (1,056) |
Property and equipment, net | $ | 389 |  |  | $ | 423 |
Current maturities of long-term debt | $ | 149 |  |  | $ | 148 |
Long-term debt | 38 |  |  | 76 |
Total finance lease liabilities | $ | 187 |  |  | $ | 224 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 4.2 |  | 4.5
Finance leases | 1.3 |  | 1.5
Weighted Average Discount Rate |  |  |
Operating leases | 5.6 | % |  | 5.6 | %
Finance leases | 4.3 | % |  | 4.3 | %
Maturities of lease liabilities are as follows:
Year Ending December 31, | Operating Leases |  | Finance Leases
2023 (excluding the three months ended March 31, 2023) | $ | 15,125 |  |  | $ | 116 |
2024 | 19,248 |  |  | 77 |
2025 | 16,626 |  |  | — |
2026 | 10,519 |  |  | — |
2027 | 2,511 |  |  | — |
2028 | 1,583 |  |  | — |
Thereafter | 4,807 |  |  | — |
Total lease payments | $ | 70,419 |  |  | $ | 193 |
Less imputed interest | (7,879) |  |  | (6) |
Total | $ | 62,540 |  |  | $ | 187 |
Lease Obligations |
9. | LEASE OBLIGATIONS
The Company has operating and finance leases primarily for construction and transportation equipment, as well as office space. The Company’s leases have remaining lease terms of one month to ten years, some of which include options to extend the leases for up to ten years. The components of lease expense are as follows:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
Operating lease cost | $ | 4,954 |  |  | $ | 2,693 |  |  |  |  |
Short-term lease cost | $ | 4,375 |  |  | $ | 3,168 |  |  |  |  |
Finance lease cost: |  |  |  |  |  |  |
Amortization of right-of-use assets | $ | 37 |  |  | $ | 41 |  |  |  |  |
Interest on lease liabilities | 2 |  |  | 4 |  |  |  |  |
Total finance lease cost | $ | 39 |  |  | $ | 45 |  |  |  |  |
Supplemental cash flow information related to leases is as follows:
| Three Months Ended March 31, |  |
Cash paid for amounts included in the measurement of lease liabilities: | 2023 |  | 2022 |  |
Operating cash flows from operating leases | $ | 4,788 |  |  | $ | 2,991 |  |  |
Operating cash flows from finance leases | $ | 2 |  |  | $ | 4 |  |  |
Financing cash flows from finance leases | $ | 37 |  |  | $ | 41 |  |  |
Right-of-use assets obtained in exchange for lease obligations (non-cash): |  |  |  |  |
Operating leases | $ | 6,956 |  |  | $ | 15,897 |  |  |
Finance leases | $ | — |  |  | $ | — |  |  |
Supplemental balance sheet information related to leases is as follows:
Operating Leases | March 31, 2023 |  | December 31, 2022
Operating lease right-of-use assets | $ | 62,278 |  |  | $ | 59,415 |
Current portion of long-term lease obligations | $ | 17,376 |  |  | $ | 19,715 |
Long-term lease obligations | 45,164 |  |  | 40,103 |
Total operating lease liabilities | $ | 62,540 |  |  | $ | 59,818 |
Finance Leases |  |  |
Property and equipment, at cost | $ | 1,479 |  |  | $ | 1,479 |
Accumulated depreciation | (1,090) |  |  | (1,056) |
Property and equipment, net | $ | 389 |  |  | $ | 423 |
Current maturities of long-term debt | $ | 149 |  |  | $ | 148 |
Long-term debt | 38 |  |  | 76 |
Total finance lease liabilities | $ | 187 |  |  | $ | 224 |
Weighted Average Remaining Lease Term |  |  |
Operating leases | 4.2 |  | 4.5
Finance leases | 1.3 |  | 1.5
Weighted Average Discount Rate |  |  |
Operating leases | 5.6 | % |  | 5.6 | %
Finance leases | 4.3 | % |  | 4.3 | %
Maturities of lease liabilities are as follows:
Year Ending December 31, | Operating Leases |  | Finance Leases
2023 (excluding the three months ended March 31, 2023) | $ | 15,125 |  |  | $ | 116 |
2024 | 19,248 |  |  | 77 |
2025 | 16,626 |  |  | — |
2026 | 10,519 |  |  | — |
2027 | 2,511 |  |  | — |
2028 | 1,583 |  |  | — |
Thereafter | 4,807 |  |  | — |
Total lease payments | $ | 70,419 |  |  | $ | 193 |
Less imputed interest | (7,879) |  |  | (6) |
Total | $ | 62,540 |  |  | $ | 187 |

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