v3.24.0.1

LEASES | 12 Months Ended
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Dec. 31, 2023
Lessee Disclosure [Abstract] |
LEASES | NOTE 8: LEASES The following table summarizes the Company’s lease-related assets and liabilities recorded in the consolidated balance sheets:
Description |  | Classification on the consolidated Balance Sheet |  | 2023 |  |  | 2022 |
Assets: |  |  |  |  |  |  |  |
Operating lease assets, net of lease incentive obligation |  | Operating lease right-of use assets, net |  | $ | 64,167 |  |  | $ | 62,754 |
Finance lease assets |  | Property, plant and equipment, net |  |  | 49,926 |  |  |  | 52,934 |
Total lease assets |  |  |  | $ | 114,093 |  |  | $ | 115,688 |
Liabilities: |  |  |  |  |  |  |  |  |  |
Operating leases short term |  | Accrued expenses and other current liabilities |  | $ | 17,704 |  |  | $ | 16,183 |
Finance leases short term |  | Accrued expenses and other current liabilities |  |  | 3,253 |  |  |  | 3,263 |
Operating leases long term |  | Operating lease liabilities |  |  | 45,070 |  |  |  | 46,256 |
Finance leases long term |  | Finance lease liabilities |  |  | 41,892 |  |  |  | 45,385 |
Total lease liabilities |  |  |  | $ | 107,919 |  |  | $ | 111,087 |
The following table presents certain information related to the operating and finance leases:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |
Finance leases: |  |  |  |  |  |
Finance lease cost |  | $ | 4,154 |  |  | $ | 4,196 |
Weighted average remaining lease term in years |  |  | 14.99 |  |  |  | 16.28 |
Weighted average annual discount rate |  |  | 2.30 | % |  |  | 2.30 | %
Operating leases: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 18,479 |  |  | $ | 15,901 |
Weighted average remaining lease term in years |  |  | 9.50 |  |  |  | 8.33 |
Weighted average annual discount rate |  |  | 3.68 | % |  |  | 2.17 | %
The following table presents supplemental cash flows information related to the lease costs for operating and finance leases:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows for operating leases |  | $ | 17,930 |  |  | $ | 16,343 |
Operating cash flows for finance leases |  | $ | 373 |  |  | $ | 420 |
Financing cash flows for finance leases |  | $ | 2,794 |  |  | $ | 2,834 |
The following table reconciles the undiscounted cash flows for each of the first five years and the total of the remaining years of the operating and finance lease liabilities recorded in the consolidated balance sheets:
|  | Operating Leases |  |  | Finance Leases |
2024 |  | $ | 17,933 |  |  | $ | 3,288 |
2025 |  |  | 10,693 |  |  |  | 3,452 |
2026 |  |  | 6,585 |  |  |  | 3,452 |
2027 |  |  | 5,209 |  |  |  | 4,017 |
2028 |  |  | 4,479 |  |  |  | 3,155 |
Thereafter |  |  | 30,169 |  |  |  | 36,087 |
Total lease payments |  | $ | 75,068 |  |  | $ | 53,451 |
Less amount of lease payments representing interest |  |  | (12,294 | ) |  |  | (8,306 | )
Present value of future lease payments |  | $ | 62,774 |  |  | $ | 45,145 |
Less current lease liabilities |  |  | (17,704 | ) |  |  | (3,253 | )
Long-term lease liabilities |  | $ | 45,070 |  |  | $ | 41,892 |

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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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