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Leases
 6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Leases Leases
The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2039, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term.

The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of June 30, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023:

Condensed Consolidated Balance Sheets Line ItemJune 30,December 31,
(in thousands)202420232023
Operating leases
Assets
Operating leasesOperating lease right-of-use assets$84,305 $63,358 $68,792 
Liabilities
Operating - currentAccrued expenses and other current liabilities$16,673 $12,809 $14,954 
Operating - noncurrent Operating lease liabilities69,223 51,560 55,324 
Total operating lease liabilities$85,896 $64,369 $70,278 

The components of lease expense were as follows:
Condensed Consolidated Statements of Earnings and Comprehensive Income Line ItemThree Months Ended June 30,
(in thousands)20242023
Operating lease costGeneral administrative expenses and
     cost of sales		$4,801 $4,192 
Other Information

Supplemental cash flow information related to leases is as follows:
Three Months Ended June 30,
(in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows for operating leases$4,708 $3,932 
Operating right-of-use assets obtained in exchange for new lease
     liabilities
23,240 8,423 

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2024:
(in thousands)Operating Leases
Remaining six months of 2024$10,332 
202519,459 
202616,257 
202713,013 
202811,760 
20299,666 
Thereafter20,951 
Total lease payments101,438 
Less: Present value discount(15,542)
     Total lease liabilities$85,896 

The following table summarizes the Company's lease terms and discount rates as of June 30, 2024 and 2023:
Weighted-average remaining lease terms (in years):20242023
Operating leases6.85.9
Weighted-average discount rate:
Operating leases5.1 %4.7 %
Leases Leases
The Company has operating leases for certain facilities, equipment and automobiles. The existing operating leases expire at various dates through 2039, some of which include options to extend the leases for up to five years. The Company measured the lease liability at the present value of the lease payments to be made over the lease term. The lease payments are discounted using the Company's incremental borrowing rate. The Company measured the ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term.

The following table provides a summary of leases included on the Condensed Consolidated Balance Sheets as of June 30, 2024 and 2023 and December 31, 2023, Condensed Consolidated Statements of Earnings and Comprehensive Income, and Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023:

Condensed Consolidated Balance Sheets Line ItemJune 30,December 31,
(in thousands)202420232023
Operating leases
Assets
Operating leasesOperating lease right-of-use assets$84,305 $63,358 $68,792 
Liabilities
Operating - currentAccrued expenses and other current liabilities$16,673 $12,809 $14,954 
Operating - noncurrent Operating lease liabilities69,223 51,560 55,324 
Total operating lease liabilities$85,896 $64,369 $70,278 

The components of lease expense were as follows:
Condensed Consolidated Statements of Earnings and Comprehensive Income Line ItemThree Months Ended June 30,
(in thousands)20242023
Operating lease costGeneral administrative expenses and
     cost of sales		$4,801 $4,192 
Other Information

Supplemental cash flow information related to leases is as follows:
Three Months Ended June 30,
(in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows for operating leases$4,708 $3,932 
Operating right-of-use assets obtained in exchange for new lease
     liabilities
23,240 8,423 

The following is a schedule, by years, of maturities of lease liabilities as of June 30, 2024:
(in thousands)Operating Leases
Remaining six months of 2024$10,332 
202519,459 
202616,257 
202713,013 
202811,760 
20299,666 
Thereafter20,951 
Total lease payments101,438 
Less: Present value discount(15,542)
     Total lease liabilities$85,896 

The following table summarizes the Company's lease terms and discount rates as of June 30, 2024 and 2023:
Weighted-average remaining lease terms (in years):20242023
Operating leases6.85.9
Weighted-average discount rate:
Operating leases5.1 %4.7 %