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LEASES | 9 Months Ended
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Sep. 30, 2024
LEASES |
LEASES | NOTE 13. LEASES Components of total operating lease cost were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30,
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost | ​ | $ | 5,859 | ​ | $ | 5,629 | ​ | $ | 17,575 | ​ | $ | 16,965
Short-term and variable lease cost | ​ | ​ | 897 | ​ | ​ | 1,100 | ​ | ​ | 2,474 | ​ | ​ | 3,170
Total operating lease cost | ​ | $ | 6,756 | ​ | $ | 6,729 | ​ | $ | 20,049 | ​ | $ | 20,135
​ Estimated future payments on our operating lease liabilities are as follows: ​
​ | ​ | ​ | ​
Year Ending December 31, |  | ​ | ​
2024 (remaining) | ​ | $ | 6,127
2025 | ​ |  | 22,557
2026 | ​ |  | 17,077
2027 | ​ | ​ | 13,616
2028 | ​ | ​ | 13,171
Thereafter | ​ | ​ | 50,930
Total lease payments | ​ | ​ | 123,478
Less: Interest | ​ | ​ | (24,854)
Present value of lease liabilities | ​ | $ | 98,624
​ In addition to the above, we have lease agreements with total payments of $32.8 million that commence on various dates in 2024 and 2025 and extend through 2040. In connection with the closure of our Zhongshan, China facility under the 2024 Plan (see Note 11. Restructuring, Asset Impairments, and Other Charges), we expect to terminate the facility’s lease agreement before its expiration. During the third quarter of 2024, we reduced both the operating lease right-of-use asset and operating lease liability by $20.7 million. The following tables present additional information about our lease agreements: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | ​ | December 31, | ​
​ |  | 2024 |  |  | 2023 | ​
Weighted average remaining lease term (in years) | ​ | ​ | 7.8 | ​ | ​ | ​ | 8.3 | ​
Weighted average discount rate | ​ |  | 5.5 | % | ​ | ​ | 5.0 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Three Months Ended September 30, | ​ | Nine Months Ended September 30, | ​
​ | 2024 |  | 2023 |  | 2024 |  | 2023 |
Cash paid for operating leases | $ | 5,823 | ​ | $ | 5,683 | ​ | $ | 17,476 | ​ | $ | 17,290 | ​
Right-of-use assets obtained in exchange for operating lease liabilities | $ | 7,367 | ​ | $ | 9,271 | ​ | $ | 25,784 | ​ | $ | 11,900 | ​
​

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- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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