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v3.23.3

Leases (Tables) | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Schedule of Assets and Liabilities, Lessee | The following table provides information on the amounts (in thousands) of our right-of-use assets (“ROU assets”) and liabilities as of September 30, 2023 and December 31, 2022 and their placement within our condensed consolidated balance sheets:
Lease type |  | Balance Sheet Location |  | September 30, 2023 |  | December 31, 2022
Assets |  |  |  |  |  |
Finance |  | Property, plant, and equipment |  | $ | 24,172 |  |  | $ | 21,150 |
Finance |  | Accumulated amortization |  | (11,729) |  |  | (10,308) |
Finance |  | Property, plant, and equipment, net |  | $ | 12,443 |  |  | $ | 10,842 |
Operating |  | Operating lease right-of-use assets |  | 329,428 |  |  | 350,761 |
Total right-of-use assets |  | $ | 341,871 |  |  | $ | 361,603 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Finance |  | Other accrued liabilities |  | $ | 1,652 |  |  | $ | 1,782 |
Operating |  | Operating lease liabilities |  | 71,626 |  |  | 66,081 |
Long-term |  |  |  |  |  |
Finance |  | Finance lease liabilities |  | 8,178 |  |  | 6,311 |
Operating |  | Operating lease liabilities |  | 266,982 |  |  | 292,701 |
Total lease liabilities |  |  |  | $ | 348,438 |  |  | $ | 366,875 |
The following table summarizes the weighted-average lease terms and discount rates of our leases as of September 30, 2023 and December 31, 2022:
|  |  |  | September 30, 2023 |  | December 31, 2022
Weighted-average remaining lease term (in years) |  |  |  |
Finance |  |  |  | 8.62 |  | 5.60
Operating |  |  |  | 8.81 |  | 9.00
Weighted-average discount rate |  |  |  |
Finance |  |  |  | 7.27 | % |  | 7.38 | %
Operating |  |  |  | 7.23 | % |  | 7.10 | %
Schedule of Lease, Cost | The following table summarizes the lease costs and income recognized in our condensed consolidated statements of operations (in thousands):
|  |  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
Lease cost (income) type |  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of finance lease ROU assets |  |  |  | $ | 476 |  |  | $ | 482 |  |  | $ | 1,422 |  |  | $ | 1,450 |
Interest on lease liabilities |  |  |  | 154 |  |  | 152 |  |  | 446 |  |  | 475 |
Operating lease cost |  |  |  | 24,898 |  |  | 22,138 |  |  | 73,188 |  |  | 66,385 |
Variable lease cost |  |  |  | 2,807 |  |  | 769 |  |  | 62,394 |  |  | 3,506 |
Short-term lease cost |  |  |  | 2,778 |  |  | 1,266 |  |  | 7,341 |  |  | 3,611 |
Net lease cost |  |  |  | $ | 31,113 |  |  | $ | 24,807 |  |  | $ | 144,791 |  |  | $ | 75,427 |
Operating lease income (1) |  |  |  | $ | (3,918) |  |  | $ | (3,495) |  |  | $ | (11,193) |  |  | $ | (7,560) |
_________________________________________________________ (1)The majority of our lessor income comes from leases with lease terms of one year or less and the estimated future undiscounted cash flows from lessor income are not expected to be material. The following table summarizes the supplemental cash flow information related to leases as follows (in thousands):
|  |  |  | Nine Months Ended September 30,
Lease type |  |  |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of liabilities |  |  |  |  |  |
Financing cash flows from finance leases |  |  |  | $ | 1,287 |  |  | $ | 1,203 |
Operating cash flows from finance leases |  |  |  | 440 |  |  | 464 |
Operating cash flows from operating leases |  |  |  | 72,407 |  |  | 63,578 |
Non-cash supplemental amounts |  |  |  |  |  |
ROU assets obtained in exchange for new finance lease liabilities |  |  |  | 3,021 |  |  | 594 |
ROU assets obtained in exchange for new operating lease liabilities |  |  |  | 35,822 |  |  | 19,014 |
ROU assets terminated in exchange for release from operating lease liabilities |  |  |  | 1,439 |  |  | 32,902 |
Schedule of Lessee, Operating Lease, Liability, Maturity | The table below includes the estimated future undiscounted cash flows for finance and operating leases as of September 30, 2023 (in thousands):
For the year ending December 31, |  | Finance leases |  | Operating leases |  | Total
2023 (1) |  | $ | 639 |  |  | $ | 24,830 |  |  | $ | 25,469 |
2024 |  | 2,157 |  |  | 88,428 |  |  | 90,585 |
2025 |  | 2,191 |  |  | 56,178 |  |  | 58,369 |
2026 |  | 1,726 |  |  | 49,733 |  |  | 51,459 |
2027 |  | 1,501 |  |  | 47,550 |  |  | 49,051 |
2028 |  | 742 |  |  | 45,138 |  |  | 45,880 |
Thereafter |  | 4,563 |  |  | 134,063 |  |  | 138,626 |
Total lease payments |  | 13,519 |  |  | 445,920 |  |  | 459,439 |
Less amount representing interest |  | (3,689) |  |  | (107,312) |  |  | (111,001) |
Present value of lease liabilities |  | $ | 9,830 |  |  | $ | 338,608 |  |  | $ | 348,438 |
_________________________________________________________ (1)Represents the period from October 1, 2023 to December 31, 2023.
Schedule of Finance Lease, Liability, Maturity | The table below includes the estimated future undiscounted cash flows for finance and operating leases as of September 30, 2023 (in thousands):
For the year ending December 31, |  | Finance leases |  | Operating leases |  | Total
2023 (1) |  | $ | 639 |  |  | $ | 24,830 |  |  | $ | 25,469 |
2024 |  | 2,157 |  |  | 88,428 |  |  | 90,585 |
2025 |  | 2,191 |  |  | 56,178 |  |  | 58,369 |
2026 |  | 1,726 |  |  | 49,733 |  |  | 51,459 |
2027 |  | 1,501 |  |  | 47,550 |  |  | 49,051 |
2028 |  | 742 |  |  | 45,138 |  |  | 45,880 |
Thereafter |  | 4,563 |  |  | 134,063 |  |  | 138,626 |
Total lease payments |  | 13,519 |  |  | 445,920 |  |  | 459,439 |
Less amount representing interest |  | (3,689) |  |  | (107,312) |  |  | (111,001) |
Present value of lease liabilities |  | $ | 9,830 |  |  | $ | 338,608 |  |  | $ | 348,438 |
_________________________________________________________ (1)Represents the period from October 1, 2023 to December 31, 2023.

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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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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6 + Details
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