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Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Balance Sheet Information | The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of September 30, 2023 and 2022 and December 31, 2022, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2023 and 2022:
| Condensed Consolidated Balance Sheets Line Item | September 30, | December 31,
(in thousands) |  | 2023 | 2022 | 2022
Operating leases |  |  |  |
Assets |  |  |  |
Operating leases | Operating lease right-of-use assets | $ | 66,144 |  | $ | 48,196 |  | $ | 57,652 |
Liabilities |  |  |  |
Operating - current | Accrued expenses and other current liabilities | $ | 13,617 |  | $ | 10,163 |  | $ | 11,544 |
Operating - noncurrent | Operating lease liabilities | 53,808 |  | 38,650 |  | 46,882 |
Total operating lease liabilities |  | $ | 67,425 |  | $ | 48,813 |  | $ | 58,426 |
Finance leases |  |  |  |
Assets |  |  |  |
Property and equipment, gross | Property, plant and equipment, net | $ | — |  | $ | 3,569 |  | $ | 3,569 |
Accumulated amortization | Property, plant and equipment, net | — |  | (3,569) |  | (3,569) |
Property and equipment, net | Property, plant and equipment, net | $ | — |  | $ | — |  | $ | — |
Lease, Cost | The components of lease expense were as follows:
| Condensed Consolidated Statements of Earnings and Comprehensive Income Line Item | Three Months Ended September 30, |
(in thousands) |  | 2023 |  | 2022 |  |  |
Operating lease cost | General administrative expenses and cost of sales | $ | 4,434 |  |  | $ | 3,436 |  |  |  |
Other Information Supplemental cash flow information related to leases is as follows:
| Three Months Ended September 30, |
(in thousands) | 2023 |  | 2022 |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |
Operating cash flows for operating leases | $ | 4,166 |  |  | $ | 3,435 |  |  |
Operating right-of-use assets obtained in exchange for lease obligations during the current period | 6,437 |  |  | 3,159 |  |  |
The following table summarizes the Company's lease terms and discount rates as of September 30, 2023 and 2022:
Weighted-average remaining lease terms (in years): | 2023 |  | 2022
Operating leases | 5.8 |  | 6.1
Weighted-average discount rate: |  |  |
Operating leases | 4.8 | % |  | 4.8 | %
Operating Lease, Liability, Maturity | The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2023:
(in thousands) |  |  | Operating Leases
Remaining three months of 2023 |  |  | $ | 4,279 |
2024 |  |  | 16,032 |
2025 |  |  | 14,294 |
2026 |  |  | 11,697 |
2027 |  |  | 9,148 |
2028 |  |  | 8,663 |
Thereafter |  |  | 13,917 |
Total lease payments |  |  | 78,030 |
Less: Present value discount |  |  | (10,605) |
Total lease liabilities |  |  | $ | 67,425 |
Finance Lease, Liability, Maturity | The following is a schedule, by years, of maturities of lease liabilities as of September 30, 2023:
(in thousands) |  |  | Operating Leases
Remaining three months of 2023 |  |  | $ | 4,279 |
2024 |  |  | 16,032 |
2025 |  |  | 14,294 |
2026 |  |  | 11,697 |
2027 |  |  | 9,148 |
2028 |  |  | 8,663 |
Thereafter |  |  | 13,917 |
Total lease payments |  |  | 78,030 |
Less: Present value discount |  |  | (10,605) |
Total lease liabilities |  |  | $ | 67,425 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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