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v3.22.2.2

Leases (Tables) | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Schedule of Lease-Related Assets and Liabilities | The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets:
|  |  |  | As of September 30, |  | As of December 31,
(in thousands) |  | Classification |  | 2022 |  | 2021
Assets |  |  |  |  |  |
Non-Current |  |  |  |  |  |
Operating |  | Operating lease right-of-use assets |  | $ | 72,226 |  |  | $ | 69,871 |
Finance |  | Property and equipment, net |  | 7,828 |  |  | 5,266 |
Total lease assets |  |  |  | $ | 80,054 |  |  | $ | 75,137 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Current maturities of operating lease obligations |  | $ | 25,414 |  |  | $ | 23,224 |
Financing |  | Current maturities of finance lease obligations |  | 2,275 |  |  | 1,747 |
Non-Current |  |  |  |  |  |
Operating |  | Operating lease obligations |  | 46,640 |  |  | 46,075 |
Financing |  | Finance lease obligations |  | 5,469 |  |  | 3,297 |
Total lease liabilities |  | $ | 79,798 |  |  | $ | 74,343 |
Weighted-average remaining lease term: |  |  |  |
Operating leases |  |  |  | 4.0 years |  | 4.3 years
Finance leases |  |  |  | 3.8 years |  | 3.3 years
Weighted-average discount rate: |  |  |  |
Operating leases |  |  |  | 4.06 | % |  | 3.38 | %
Finance leases |  |  |  | 5.21 | % |  | 4.96 | %
Schedule of Lease Costs for Finance and Operating Leases | The table below presents certain information related to the lease costs for finance and operating leases:
|  |  |  | Three months ended September 30, |  | Nine months ended September 30,
(in thousands) |  | Classification |  | 2022 |  | 2021 |  | 2022 |  | 2021
Operating lease cost(1) |  | Administrative |  | $ | 8,355 |  |  | $ | 6,927 |  |  | $ | 24,293 |  |  | $ | 19,947 |
Finance lease cost: |  |  |  |  |  |  |  |  |  |
Amortization of leased assets(2) |  | Cost of sales |  | 817 |  |  | 769 |  |  | 2,388 |  |  | 2,342 |
Interest on finance lease obligations |  | Interest expense, net |  | 87 |  |  | 54 |  |  | 216 |  |  | 161 |
Total lease costs |  |  |  | $ | 9,259 |  |  | $ | 7,750 |  |  | $ | 26,897 |  |  | $ | 22,450 |
(1)Includes variable lease costs of $0.9 million and $0.7 million for the three months ended September 30, 2022 and 2021, respectively, and $2.6 million and $2.2 million for the nine months ended September 30, 2022 and 2021, respectively, and short-term lease costs of $0.3 million for both the three months ended September 30, 2022 and 2021, respectively, and $0.9 million and $0.8 million for the nine months ended September 30, 2022 and 2021, respectively. (2)Includes variable lease costs of $0.2 million for each of the three months ended September 30, 2022 and 2021 and $0.6 million and $0.5 million for the nine months ended September 30, 2022 and 2021, respectively. The table below presents supplemental cash flow information related to leases (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows for operating leases | $ | 7,030 |  |  | $ | 5,821 |  |  | $ | 20,296 |  |  | $ | 16,763 |
Operating cash flows for finance leases | 87 |  |  | 54 |  |  | 216 |  |  | 161 |
Financing cash flows for finance leases | 576 |  |  | 532 |  |  | 1,661 |  |  | 1,573 |
Schedule of Undiscounted Cash Flows Finance Lease Obligations | The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheet as of September 30, 2022 (in thousands):
| Finance Leases |  | Operating Leases
|  |  | Related Party |  | Other |  | Total Operating
Remainder of 2022 | $ | 742 |  |  | $ | 374 |  |  | $ | 6,952 |  |  | $ | 7,326 |
2023 | 2,443 |  |  | 1,421 |  |  | 24,687 |  |  | 26,108 |
2024 | 2,015 |  |  | 1,175 |  |  | 16,450 |  |  | 17,625 |
2025 | 1,647 |  |  | 1,017 |  |  | 10,288 |  |  | 11,305 |
2026 | 1,315 |  |  | — |  |  | 7,232 |  |  | 7,232 |
Thereafter | 411 |  |  | — |  |  | 8,714 |  |  | 8,714 |
Total minimum lease payments | 8,573 |  |  | $ | 3,987 |  |  | $ | 74,323 |  |  | 78,310 |
Less: Amounts representing executory costs | (11) |  |  |  |  |  |  | — |
Less: Amounts representing interest | (818) |  |  |  |  |  |  | (6,256) |
Present value of future minimum lease payments | 7,744 |  |  |  |  |  |  | 72,054 |
Less: Current obligation under leases | (2,275) |  |  |  |  |  |  | (25,414) |
Long-term lease obligations | $ | 5,469 |  |  |  |  |  |  | $ | 46,640 |
Schedule of Undiscounted Cash Flows Operating Lease Obligations | The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheet as of September 30, 2022 (in thousands):
| Finance Leases |  | Operating Leases
|  |  | Related Party |  | Other |  | Total Operating
Remainder of 2022 | $ | 742 |  |  | $ | 374 |  |  | $ | 6,952 |  |  | $ | 7,326 |
2023 | 2,443 |  |  | 1,421 |  |  | 24,687 |  |  | 26,108 |
2024 | 2,015 |  |  | 1,175 |  |  | 16,450 |  |  | 17,625 |
2025 | 1,647 |  |  | 1,017 |  |  | 10,288 |  |  | 11,305 |
2026 | 1,315 |  |  | — |  |  | 7,232 |  |  | 7,232 |
Thereafter | 411 |  |  | — |  |  | 8,714 |  |  | 8,714 |
Total minimum lease payments | 8,573 |  |  | $ | 3,987 |  |  | $ | 74,323 |  |  | 78,310 |
Less: Amounts representing executory costs | (11) |  |  |  |  |  |  | — |
Less: Amounts representing interest | (818) |  |  |  |  |  |  | (6,256) |
Present value of future minimum lease payments | 7,744 |  |  |  |  |  |  | 72,054 |
Less: Current obligation under leases | (2,275) |  |  |  |  |  |  | (25,414) |
Long-term lease obligations | $ | 5,469 |  |  |  |  |  |  | $ | 46,640 |

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