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v3.25.1

Leases | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Leases | NO TE 10. LEASES We lease certain equipment, office space and land. Lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. The following table presents supplemental balance sheet information related to lease assets and liabilities:
(in thousands) | Classification |  | March 31, 2025 |  |  | December 31, 2024 |
Assets |  |  |  |  |  |  |
Operating lease assets | Other long-term assets |  | $ | 10,481 |  |  | $ | 10,167 |
Finance lease assets 1 | Property, plant and equipment, net |  |  | 12,113 |  |  |  | 12,266 |
Total lease assets |  |  | $ | 22,594 |  |  | $ | 22,433 |
Liabilities |  |  |  |  |  |  |
Current: |  |  |  |  |  |  |
Operating lease liabilities | Accounts payable and accrued liabilities |  | $ | 3,249 |  |  | $ | 3,027 |
Finance lease liabilities | Accounts payable and accrued liabilities |  |  | 5,236 |  |  |  | 5,257 |
Noncurrent: |  |  |  |  |  |  |
Operating lease liabilities | Other long-term obligations |  |  | 6,985 |  |  |  | 7,030 |
Finance lease liabilities | Other long-term obligations |  |  | 6,804 |  |  |  | 6,959 |
Total lease liabilities |  |  | $ | 22,274 |  |  | $ | 22,273 |
1. Finance lease assets are presented net of accumulated amortization of $12.2 million and $12.6 million at March 31, 2025 and December 31, 2024. respectively. The following table presents the components of lease expense:
|  | Three Months Ended March 31, |
(in thousands) |  | 2025 |  |  | 2024 |
Operating lease costs 1 |  | $ | 895 |  |  | $ | 839 |
Finance lease costs: |  |  |  |  |  |
Amortization of leased assets |  |  | 1,445 |  |  |  | 1,269 |
Interest expense |  |  | 159 |  |  |  | 134 |
Net lease costs |  | $ | 2,499 |  |  | $ | 2,242 |
1. Excludes short-term leases and variable lease costs, which are immaterial. The following table presents supplemental cash flow information related to leases:
|  |  | Three Months Ended March 31, |
(in thousands) |  |  | 2025 |  |  | 2024 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 942 |  |  | $ | 887 |
Operating cash flows for finance leases |  | $ | 159 |  |  | $ | 134 |
Financing cash flows for finance leases |  | $ | 1,446 |  |  | $ | 1,312 |
Leased assets exchanged for new lease liabilities: |  |  |  |  |  |
Operating leases |  | $ | 982 |  |  | $ | 393 |
Finance leases |  | $ | 1,273 |  |  | $ | 1,831 |

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- Definition Lessee operating and finance leases. + References No definition available. + Details
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- References No definition available. + Details
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