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LEASES (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Summary of Operating Lease Cost and Supplemental Cash Flow Information Related to Operating Leases

The following table presents the Company’s operating lease cost and supplemental cash flow information related to the Company’s operating leases (in thousands):

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Operating lease cost		$	1,115			$	1,094			$	3,307			$	3,538
Non-cash activity:
Right-of-use assets obtained in exchange for lease obligations		$	—			$	—			$	—			$	—

Schedule of Operating Lease Right of Use Assets and Liabilities

The following table presents the Company’s operating lease right-of-use assets and liabilities (in thousands):

		September 30, 2024				December 31, 2023
Right-of-use assets		$	22,214			$	24,910
Short-term lease liabilities			3,699				3,533
Long-term lease liabilities			20,112				22,855

Schedule of Weighted Average Assumptions Used to Compute Right-of-use Assets and Lease Liabilities

The following table presents weighted average assumptions used to compute the Company’s right-of-use assets and lease liabilities:

		September 30, 2024
Weighted average remaining lease term (in years)			6.1
Weighted average discount rate			3.7	%

Schedule of Undiscounted Future Minimum Lease Payments Having Non-cancelable Lease Terms

Undiscounted future minimum lease payments as of September 30, 2024, by year and in the aggregate, having non-cancelable lease terms in excess of one year were as follows (in thousands):

		Maturities of Operating Lease Liabilities
2024 (1)		$	1,074
2025			4,321
2026			4,401
2027			4,322
2028			4,027
Thereafter			8,051
Total lease payments			26,196
Less: Imputed interest			(2,385	)
Present value of lease payments		$	23,811

(1)Scheduled maturities of lease liabilities represent the period from October 1, 2024 to December 31, 2024.

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Schedule of weighted average assumptions used to compute right-of-use assets and lease liabilities.

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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

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