XML 78 R52.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Components of Lease Costs
The Company’s long-term leases consist primarily of office space, vehicles and other property and equipment used in its operations. The components of lease costs attributable to continuing operations were as follows for the periods presented:
Year Ended December 31,
202420232022
 (In thousands)
Operating lease costs$31,830 $9,853 $11,292 
Variable lease costs(1)
11,137 13,391 8,562 
Short-term lease costs59,429 56,100 25,716 
Sublease income(1,570)(199)— 
Finance lease costs:
Amortization of ROU assets1,569 1,367 1,342 
Interest on lease liabilities299 126 65 
Total lease costs$102,694 $80,638 $46,977 
___________________
(1)Based on payments made by the Company to lessors for the right to use an underlying asset that vary because of changes in circumstances occurring after the commencement date, other than the passage of time, such as property taxes, operating and maintenance costs, which do not depend on an index or rate.
Schedule of Maturities of Company's Finance Leases
As of December 31, 2024, maturities of the Company’s lease liabilities were as follows:
Operating LeasesFinance Leases
 (In thousands)
2025$33,863 $1,953 
202611,587 1,771 
20274,417 1,434 
20282,918 585 
20292,748 80 
Thereafter1,379 — 
Total future lease payments56,912 5,823 
Less: Imputed interest4,060 578 
Present value of future lease payments$52,852 $5,245 
Schedule of Maturities of Company's Operating Leases
As of December 31, 2024, maturities of the Company’s lease liabilities were as follows:
Operating LeasesFinance Leases
 (In thousands)
2025$33,863 $1,953 
202611,587 1,771 
20274,417 1,434 
20282,918 585 
20292,748 80 
Thereafter1,379 — 
Total future lease payments56,912 5,823 
Less: Imputed interest4,060 578 
Present value of future lease payments$52,852 $5,245 
Schedule of Supplemental Balance Sheet Information Related to Company's Leases
Supplemental balance sheet information related to the Company’s leases were as follows:
December 31,
Balance Sheet Location20242023
 (In thousands)
Assets
Operating lease assets(1)
Operating right-of-use assets$38,004 $21,343 
Finance lease assets(2)
Other assets5,220 2,748 
Total lease assets$43,224 $24,091 
Liabilities
Current
Operating lease liabilities(1)
Current operating lease liabilities$37,629 $13,258 
Finance lease liabilitiesOther current liabilities1,665 916 
Long-term
Operating lease liabilities(1)
Operating lease liabilities15,190 18,667 
Finance lease liabilitiesOther liabilities3,613 1,881 
Total lease liabilities$58,097 $34,722 
___________________
(1)The year ended December 31, 2024 includes $43.0 million of operating leases for certain operating equipment and office buildings acquired in connection with the Arrangement.
(2)Finance lease ROU assets are recorded net of accumulated amortization of $2.4 million and $1.2 million as of December 31, 2024 and 2023, respectively.
Schedule of Supplemental Cash Flow Information and Non-cash Transactions
Supplemental cash flow information and non-cash transactions related to the Company’s leases were as follows:
Year Ended December 31,
202420232022
 (In thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$30,222 $15,627 $15,843 
Operating cash flows from finance leases297 160 57 
Financing cash flows from finance leases1,458 1,702 1,299 
ROU assets obtained in exchange for lease obligations
Operating leases(1)
$49,278 $22,201 $20,164 
Finance leases(2)
4,094 2,307 2,659 
___________________
(1)The year ended December 31, 2024 includes $43.0 million related to operating leases acquired in the Arrangement. The year ended December 31, 2022 includes $15.8 million related to operating leases acquired in the Merger.
(2)The year ended December 31, 2022 includes $2.1 million related to finance leases acquired in the Merger.
Schedule of Weighted-average Lease Terms and Discount Rates for the Company's Leases
Weighted-average remaining lease terms and discount rates for the Company’s leases were as follows:
December 31,
20242023
Operating leases
Weighted average remaining lease term2.4 years3.6 years
Weighted average discount rate6.8 %6.3 %
Finance leases
Weighted average remaining lease term3.2 years3.2 years
Weighted average discount rate6.7 %5.7 %