XML 30 R20.htm IDEA: XBRL DOCUMENT

Leases

9 Months Ended

Sep. 30, 2024

We lease real estate space under non-cancelable operating lease agreements for commercial and industrial space. Facilities-related operating leases have remaining terms of 0.1 to 10.7 years, and some leases include options to extend up to 15 years. Other leases for automobiles, manufacturing and office and computer equipment have remaining lease terms of 0.1 to 4.1 years. These leases are primarily operating leases; financing leases are not

material. We did not include any renewal options in our lease terms for calculating the lease liabilities as we are not reasonably certain we will exercise the options at this time. The weighted-average remaining lease term for the lease obligations was 7 years as of September 30, 2024, and the weighted-average discount rate was 4.0%.

The components of lease expense related to operating leases were as follows (in thousands):


		Three Months Ended September 30,				Nine Months Ended September 30,
		2024		2023			2024		2023
Lease expense:
	Operating lease expense	$	943	$	948		$	2,773	$	2,763
	Short-term lease expense	139		142			265		348
	Variable and other lease expense	273		271			793		744
		$	1,355	$	1,361		$	3,831	$	3,855

Future minimum payments under our non-cancelable lease obligations were as follows as of September 30, 2024 (in thousands):


2024	$	959
2025	2,669
2026	1,971
2027	1,886
2028	1,617
Thereafter	5,445
Total minimum lease payments	14,547
Less: interest	(1,914)
Present value of net minimum lease payments	12,633
Less: current portion of lease liabilities	(2,616)
Total long-term lease liabilities	$	10,017