XML 35 R21.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Leases (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Lessee, Operating Leases | Leases The majority of the Company's lease obligations are non-cancelable operating leases for certain equipment and facilities. The Company's finance leases are for certain equipment as part of the Company's acquisition of Aarts. Leases with an initial term of 12 months or less are not recorded on the balance sheet; expense related to these leases is recognized on a straight-line basis over the lease term. Supplemental balance sheet information related to the Company's leases are shown below (dollars in thousands):
|  | Balance Sheet Location |  | December 31, 2023 |  | December 31, 2022
Assets |  |  |  |  |  |
Operating leases |  | Operating lease right-of-use assets |  | $ | 43,220 |  |  | $ | 47,280 |
Finance leases |  | Property and equipment, net (a) |  | 2,470 |  |  | — |
Total lease assets |  |  |  | $ | 45,690 |  |  | $ | 47,280 |
Liabilities |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating leases |  | Lease liabilities, current portion |  | $ | 7,410 |  |  | $ | 8,280 |
Finance leases |  | Lease liabilities, current portion |  | 490 |  |  | — |
Long-term: |  |  |  |  |  |
Operating leases |  | Lease liabilities |  | 37,980 |  |  | 41,010 |
Finance leases |  | Lease liabilities |  | 1,710 |  |  | — |
Total lease liabilities |  |  |  | $ | 47,590 |  |  | $ | 49,290 |
__________________________ (a) Finance leases were recorded net of accumulated depreciation of $0.2 million as of December 31, 2023. The components of lease expense are as follows (dollars in thousands):
|  |  |  | Year ended December 31,
|  | Statement of Income Location |  | 2023 |  | 2022 |  | 2021
Operating lease cost |  | Cost of sales and Selling, general and administrative expenses |  | $ | 11,180 |  |  | $ | 10,560 |  |  | $ | 8,510 |
Finance lease cost: |  |  |  |  |  |  |  |
Depreciation of lease assets |  | Cost of sales |  | 220 |  |  | — |  |  | — |
Interest on lease liabilities |  | Interest expense |  | 60 |  |  | — |  |  | — |
Short-term, variable and other lease costs |  | Cost of sales and Selling, general and administrative expenses |  | 3,430 |  |  | 3,350 |  |  | 2,460 |
Total lease cost |  |  |  | $ | 14,890 |  |  | $ | 13,910 |  |  | $ | 10,970 |
Maturities of lease liabilities are as follows (dollars in thousands):
Year ended December 31, |  | Operating Leases(a) |  | Finance Leases(a)
2024 |  | $ | 9,560 |  |  | $ | 540 |
2025 |  | 8,150 |  |  | 530 |
2026 |  | 8,620 |  |  | 600 |
2027 |  | 7,540 |  |  | 700 |
2028 |  | 5,600 |  |  | — |
Thereafter |  | 12,950 |  |  | — |
Total lease payments |  | 52,420 |  |  | 2,370 |
Less: Imputed interest |  | (7,030) |  |  | (170) |
Present value of lease liabilities |  | $ | 45,390 |  |  | $ | 2,200 |
__________________________ (a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet. Other information related to the Company's leases are as follows (dollars in thousands):
|  | Year ended December 31,
|  | 2023 |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 10,250 |  |  | $ | 9,900 |  |  | $ | 7,880 |
Operating cash flows from finance leases |  | 60 |  |  | — |  |  | — |
Financing cash flows from finance leases |  | 450 |  |  | — |  |  | — |
Lease assets obtained in exchange for new lease liabilities: |  |  |  |  |  |
Operating leases |  | 8,340 |  |  | 5,790 |  |  | 19,600 |
Finance leases |  | 2,620 |  |  | — |  |  | — |
The weighted-average remaining term of the Company's operating leases and finance leases as of December 31, 2023, is 6.5 and 3.5 years, respectively. The weighted-average discount rate for operating and finance leases as of December 31, 2023, is 4.0% and 2.6%, respectively.

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