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LEASES | 12 Months Ended
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Dec. 31, 2024
LEASES |
LEASES | NOTE 14.LEASES Components of total operating lease cost were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | Years Ended December 31,
​ |  | ​ | 2024 |  | 2023 |  | 2022
​ | ​ | ​ | (in thousands)
Operating lease cost | ​ | ​ | $ | 23,772 | ​ | $ | 22,571 | ​ | $ | 22,626
Short-term and variable lease cost | ​ | ​ | ​ | 3,134 | ​ | ​ | 4,150 | ​ | ​ | 4,838
Total operating lease cost | ​ | ​ | $ | 26,906 | ​ | $ | 26,721 | ​ | $ | 27,464
​ Estimated future payments on our operating lease liabilities are as follows: ​
​ | ​ | ​ | ​
Year Ending December 31, |  | ​ | (in thousands)
2025 | ​ | $ | 23,840
2026 | ​ |  | 18,723
2027 | ​ |  | 15,392
2028 | ​ | ​ | 15,033
2029 | ​ | ​ | 11,728
Thereafter | ​ | ​ | 55,394
Total lease payments | ​ | ​ | 140,110
Less: Interest | ​ | ​ | (33,106)
Present value of lease liabilities | ​ | $ | 107,004
​ ​ In addition to the above, we have a lease agreement with total payments of $7.0 million that commences in the first quarter of 2025 and extends through 2040. In connection with the closure of our Zhongshan, China manufacturing facility under the 2024 Plan (see Note 12. Restructuring, Asset Impairments, and Other Charges), we expect to terminate the facility’s lease agreement before its expiration. During 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | December 31, | ​ | December 31, | ​
​ |  |  | 2024 |  | 2023 | ​
Weighted average remaining lease term (in years) | ​ |  | ​ | 8.4 | ​ | ​ | 8.3 | ​
Weighted average discount rate | ​ | ​ |  | 6.1 | % | ​ | 5.0 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | Years Ended December 31,
​ | 2024 |  | 2023 | ​ | 2022
​ | (in thousands)
Cash paid for operating leases | $ | 23,671 | ​ | $ | 22,988 | ​ | $ | 22,287
Right-of-use assets obtained in exchange for operating lease liabilities | $ | 41,070 | ​ | $ | 14,321 | ​ | $ | 17,022
​

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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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