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Leases

12 Months Ended

Dec. 31, 2024

Leases

Leases

9. Leases

We have operating leases for office space, temporary housing, storage and shops. Our leases have remaining lease terms of less than one year to approximately eight years and most include options to extend the lease term, at our discretion, for an additional one to ten years. We are not, however, reasonably certain that we will exercise any of the options to extend them and as such, they have not been included in the remaining lease terms.

Financial and other supplemental information related to our operating leases is as follows:

​

​	​	​	​	​	​	​	​	​
​	​	​		December 31,
(in thousands)		Classification		2024			2023
ROU assets		Operating lease ROU assets	​	$	15,365	​	$	14,097
​	​	​	​	​	​	​	​	​
Lease liabilities			​			​
Current		Accrued liabilities	​	$	4,121	​	$	3,160
Noncurrent		Operating lease liabilities	​		12,415	​		12,271
Total lease liabilities			​	$	16,536	​	$	15,431

​

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2024		​	2023		​	2022
Operating lease cost	​	$	4,607	​	$	4,131	​	$	4,041
Short-term lease cost	​		390	​		412	​		447
Variable lease cost	​		1,901	​		1,881	​		1,802
Total lease cost	​	$	6,898	​	$	6,424	​	$	6,290

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended December 31,
(in thousands)	​	2024		​	2023		​	2022
Operating cash flows - cash paid for amounts included in the measurement of operating lease liabilities	​	$	6,692	​	$	6,157	​	$	5,951
Operating lease ROU assets obtained in exchange for lease liabilities, net (1)	​		5,120	​		710	​		2,421

(1) Includes decreases to our ROU assets of $0.4 million, and $0.2 million related to lease amendments and terminations during 2023 and 2022 respectively. There were no lease amendments or terminations during 2024 that resulted in decreases to our ROU assets.

​

​	​	​	​	​	​	​	​
​	​	December 31,					​
​	​	2024	​	2023	​	2022	​
Weighted-average remaining lease term (in years)	​	4.9	​	6.0	​	6.7	​
Weighted-average discount rate	​	5.6	%	4.9	%	4.7	%

​

Remaining maturities of our lease liabilities as of December 31, 2024 are as follows:

​

​	​	​	​
(in thousands)	​	​	​
2025	​	$	4,569
2026	​	​	4,002
2027	​		3,026
2028	​		2,576
2029	​	​	2,509
Thereafter	​		2,254
Total lease payments	​		18,936
Less: Interest	​		(2,400)
Total lease liabilities	​	$	16,536

​

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- References

No definition available.

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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

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