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Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

LEASESWe lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install; various office spaces for selling and administrative activities to support our business; and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.

The table below presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheet:

(in thousands)						Classification						As of December 31,
												2022						2021
Assets
Non-Current
Operating						Operating lease right-of-use assets						$	76,174					$	69,871
Finance						Property and equipment, net						8,928						5,266
Total lease assets												$	85,102					$	75,137
Liabilities
Current
Operating						Current maturities of operating lease obligations						$	26,145					$	23,224
Financing						Current maturities of finance lease obligations						2,508						1,747
Non-Current
Operating						Operating lease obligations						49,789						46,075
Financing						Finance lease obligations						6,397						3,297
Total lease liabilities												$	84,839					$	74,343

Weighted-average remaining lease term
Operating leases			4.0 years			4.3 years
Finance leases			3.6 years			3.3 years
Weighted-average discount rate
Operating leases			4.41		%	3.38		%
Finance leases			5.76		%	4.96		%

Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases during 2022, 2021 and 2020:

												Years ended December 31,
(in thousands)						Classification						2022						2021						2020
Operating lease cost (1)						Administrative						$	33,158					$	27,357					$	23,454
Finance lease cost
Amortization of leased assets (2)						Cost of sales						3,241						3,083						3,645
Interest on finance lease obligations						Interest expense, net						324						218						268
Total lease costs												$	36,723					$	30,658					$	27,367

(1)Includes variable lease costs of $3.7 million, $3.0 million and $2.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, and short-term lease costs of $1.1 million, $1.1 million and $0.8 million for the years ended December 31, 2022, 2021 and 2020, respectively.

(2)Includes variable lease costs of $0.7 million for each of the three years ended December 31, 2022, 2021 and 2020, respectively.

Other Information

The table below presents supplemental cash flow information related to leases during 2022, 2021 and 2020:

			Years ended December 31,
(in thousands)			2022						2021						2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases			$	27,710					$	22,930					$	19,668
Operating cash flows for finance leases			324						218						268
Financing cash flows for finance leases			2,306						2,125						2,632

Undiscounted Cash Flows

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 Consolidated Balance Sheet as of December 31, 2022:

			Finance Leases						Operating Leases
(in thousands)									Related Party						Other						Total Operating
2023			$	2,954					$	1,421					$	27,512					$	28,933
2024			2,438						1,175						19,222						20,397
2025			2,075						1,017						12,837						13,854
2026			1,745												9,114						9,114
2027			774						—						5,252						5,252
Thereafter			—						—						5,559						5,559
Total minimum lease payments			9,986						$	3,613					$	79,496					83,109
Less: Amounts representing executory costs			(6)																		—
Less: Amounts representing interest			(1,075)																		(7,175)
Present value of future minimum lease payments			8,905																		75,934
Less: Current obligation under leases			(2,508)																		(26,145)
Long-term lease obligations			$	6,397																	$	49,789

Leases

LEASESWe lease various assets in the ordinary course of business as follows: warehouses to store our materials and perform staging activities for certain products we install; various office spaces for selling and administrative activities to support our business; and certain vehicles and equipment to facilitate our operations, including, but not limited to, trucks, forklifts and office equipment.

The table below presents the lease-related assets and liabilities recorded on the Consolidated Balance Sheet:

(in thousands)						Classification						As of December 31,
												2022						2021
Assets
Non-Current
Operating						Operating lease right-of-use assets						$	76,174					$	69,871
Finance						Property and equipment, net						8,928						5,266
Total lease assets												$	85,102					$	75,137
Liabilities
Current
Operating						Current maturities of operating lease obligations						$	26,145					$	23,224
Financing						Current maturities of finance lease obligations						2,508						1,747
Non-Current
Operating						Operating lease obligations						49,789						46,075
Financing						Finance lease obligations						6,397						3,297
Total lease liabilities												$	84,839					$	74,343

Weighted-average remaining lease term
Operating leases			4.0 years			4.3 years
Finance leases			3.6 years			3.3 years
Weighted-average discount rate
Operating leases			4.41		%	3.38		%
Finance leases			5.76		%	4.96		%

Lease Costs

The table below presents certain information related to the lease costs for finance and operating leases during 2022, 2021 and 2020:

												Years ended December 31,
(in thousands)						Classification						2022						2021						2020
Operating lease cost (1)						Administrative						$	33,158					$	27,357					$	23,454
Finance lease cost
Amortization of leased assets (2)						Cost of sales						3,241						3,083						3,645
Interest on finance lease obligations						Interest expense, net						324						218						268
Total lease costs												$	36,723					$	30,658					$	27,367

(1)Includes variable lease costs of $3.7 million, $3.0 million and $2.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, and short-term lease costs of $1.1 million, $1.1 million and $0.8 million for the years ended December 31, 2022, 2021 and 2020, respectively.

(2)Includes variable lease costs of $0.7 million for each of the three years ended December 31, 2022, 2021 and 2020, respectively.

Other Information

The table below presents supplemental cash flow information related to leases during 2022, 2021 and 2020:

			Years ended December 31,
(in thousands)			2022						2021						2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases			$	27,710					$	22,930					$	19,668
Operating cash flows for finance leases			324						218						268
Financing cash flows for finance leases			2,306						2,125						2,632

Undiscounted Cash Flows

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 Consolidated Balance Sheet as of December 31, 2022:

			Finance Leases						Operating Leases
(in thousands)									Related Party						Other						Total Operating
2023			$	2,954					$	1,421					$	27,512					$	28,933
2024			2,438						1,175						19,222						20,397
2025			2,075						1,017						12,837						13,854
2026			1,745												9,114						9,114
2027			774						—						5,252						5,252
Thereafter			—						—						5,559						5,559
Total minimum lease payments			9,986						$	3,613					$	79,496					83,109
Less: Amounts representing executory costs			(6)																		—
Less: Amounts representing interest			(1,075)																		(7,175)
Present value of future minimum lease payments			8,905																		75,934
Less: Current obligation under leases			(2,508)																		(26,145)
Long-term lease obligations			$	6,397																	$	49,789

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- References

No definition available.

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- Definition

The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI https://asc.fasb.org/subtopic&trid=77888251

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X

- Definition

The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-URI https://asc.fasb.org/subtopic&trid=77888251

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