XML 26 R14.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Leases | 6 Months Ended
--- | ---
Jun. 30, 2024
Leases [Abstract] |
Leases | Leases We have operating and finance lease obligations resulting from the lease of land and buildings that comprise our corporate headquarters and various manufacturing facilities; leases related to additional manufacturing, office, and warehouse space; leases on company vehicles; and leases on a variety of office and other equipment. Information related to leases included in the Condensed Consolidated Balance Sheets was as follows (in thousands, except lease term and discount rate):
Operating leases: | June 30, 2024 |  | December 31, 2023
Operating lease right-of-use assets, net | $ | 41,655 |  |  | $ | 43,822 |
Current maturities of operating leases | $ | 3,283 |  |  | $ | 3,395 |
Non-current maturities of operating leases | 41,967 |  |  | 43,977 |
Total operating lease liabilities | $ | 45,250 |  |  | $ | 47,372 |
Finance leases: |  |  |
Property and equipment, at cost | $ | 6,913 |  |  | $ | 6,862 |
Accumulated amortization | (3,338) |  |  | (3,136) |
Property and equipment, net | $ | 3,575 |  |  | $ | 3,726 |
Current maturities of finance leases | $ | 621 |  |  | $ | 582 |
Non-current maturities of finance leases | 3,202 |  |  | 3,405 |
Total finance lease liabilities | $ | 3,823 |  |  | $ | 3,987 |
Weighted average remaining lease term (in years): |  |  |
Operating leases | 10.0 |  | 10.4
Finance leases | 6.2 |  | 6.8
Weighted average discount rate: |  |  |
Operating leases | 6.3% |  | 6.3%
Finance leases | 2.4% |  | 2.2%
Current maturities of finance leases are included as a component of Other current liabilities on our Condensed Consolidated Balance Sheets. A summary of lease expenses for our finance and operating leases included in General, administrative, and marketing expenses on our Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income was as follows (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Amortization of property and equipment | $ | 162 |  |  | $ | 133 |  |  | $ | 309 |  |  | $ | 264 |
Interest expense on finance leases | 23 |  |  | 21 |  |  | 45 |  |  | 42 |
Total finance lease expense | 185 |  |  | 154 |  |  | 354 |  |  | 306 |
Operating lease expense | 1,977 |  |  | 1,829 |  |  | 3,897 |  |  | 3,631 |
Sublease income | (70) |  |  | — |  |  | (199) |  |  | — |
Total lease expense | $ | 2,092 |  |  | $ | 1,983 |  |  | $ | 4,052 |  |  | $ | 3,937 |
A summary of our cash flow information related to leases was as follows (in thousands):
| Six Months Ended June 30,
Cash paid for amounts included in the measurement of lease liabilities: | 2024 |  | 2023
Operating cash flows for operating leases | $ | 3,852 |  |  | $ | 3,627 |
Financing cash flows for finance leases | 308 |  |  | 264 |
Operating cash flows for finance leases | 45 |  |  | 42 |
Future minimum lease payments and sublease rental income are as follows (in thousands):
| Finance Leases |  | Operating Leases
Remainder of 2024 | $ | 338 |  |  | $ | 2,312 |
2025 | 692 |  |  | 7,322 |
2026 | 671 |  |  | 6,797 |
2027 | 660 |  |  | 6,149 |
2028 | 625 |  |  | 5,836 |
Thereafter | 1,104 |  |  | 33,757 |
Total minimum lease payments | 4,090 |  |  | 62,173 |
Less amount representing interest | (267) |  |  | (16,923) |
Present value of net minimum lease payments | 3,823 |  |  | 45,250 |
Less current maturities | (621) |  |  | (3,283) |
Lease liabilities, less current maturities | $ | 3,202 |  |  | $ | 41,967 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration