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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Schedule of Finance Lease Liabilities | Finance lease liabilities as of September 30, 2024 and December 31, 2023 consisted of the following (in thousands):
| September 30, 2024 |  |  | December 31, 2023 |
Finance lease liabilities | $ | 196,635 |  |  | $ | 211,887 |
Less current portion of finance lease liabilities |  | (23,115 | ) |  |  | (22,080 | )
Finance lease liabilities, long-term | $ | 173,520 |  |  | $ | 189,807 |
Schedule of Maturities of Operating and Finance Lease Liabilities | A maturity analysis of the Company’s operating and finance lease liabilities (excluding short-term leases) at September 30, 2024 is as follows (in thousands):
Year | Operating |  |  | Finance |
Remainder of 2024 | $ | 501 |  |  | $ | 8,312 |
2025 |  | 1,811 |  |  |  | 33,235 |
2026 |  | 1,426 |  |  |  | 33,235 |
2027 |  | 1,022 |  |  |  | 33,235 |
2028 |  | 886 |  |  |  | 27,584 |
Thereafter |  | 449 |  |  |  | 113,152 |
Total lease payments | $ | 6,095 |  |  | $ | 248,753 |
Less: imputed interest |  | (673 | ) |  |  | (52,118 | )
Carrying value of lease liabilities |  | 5,422 |  |  |  | 196,635 |
Less: current portion |  | (1,639 | ) |  |  | (23,115 | )
Carrying value of long-term lease liabilities | $ | 3,783 |  |  | $ | 173,520 |
Schedule of Total Lease Cost | The Company’s total lease costs for the three and nine months ended September 30, 2024 and 2023 recognized in the consolidated statements of income consisted of the following (in thousands):
| For the three months ended September 30, |  |  | For the nine months ended September 30, |
| 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Amortization of finance lease right-of-use assets | $ | 434 |  |  | $ | 652 |  |  | $ | 1,739 |  |  | $ | 2,835 |
Interest on finance lease liabilities |  | 3,123 |  |  |  | 3,436 |  |  |  | 9,609 |  |  |  | 11,709 |
Operating lease expense |  | 426 |  |  |  | 2,483 |  |  |  | 1,316 |  |  |  | 13,325 |
Short-term lease expense |  | 274 |  |  |  | 113 |  |  |  | 808 |  |  |  | 378 |
Total lease costs | $ | 4,257 |  |  | $ | 6,684 |  |  | $ | 13,472 |  |  | $ | 28,247 |
Schedule of Other Information Related to Leases | Other information related to leases for the three and nine months ended September 30, 2024 and 2023 are as follows (in thousands):
| For the three months ended September 30, |  |  | For the nine months ended September 30, |
| 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating cash flows for finance leases | $ | 3,123 |  |  | $ | 3,436 |  |  | $ | 9,609 |  |  | $ | 11,709 |
Financing cash flows for finance leases |  | 5,172 |  |  |  | 4,909 |  |  |  | 15,252 |  |  |  | 15,661 |
Operating cash flows for operating leases |  | 495 |  |  |  | 2,520 |  |  |  | 1,600 |  |  |  | 13,697 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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