XML 116 R26.htm IDEA: XBRL DOCUMENT
v3.24.0.1

Leases | 12 Months Ended
--- | ---
Dec. 31, 2023
Leases [Abstract] |
Leases | Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. This includes leases with properties that were spun-off as part of the Spin-Off. These leases have remaining lease terms ranging from one month to seventeen years, some of which may include options to extend the leases for up to ten years, and some of which may include options to terminate the leases within one year. These leases consist of payments that are fixed or variable. Variable lease payments are based on an index or a rate such as Consumer Price Index. As of December 31, 2023 and 2022, assets recorded under finance leases were $1.7 million and $1.8 million, respectively, and accumulated depreciation associated with finance leases was $1.6 million and $1.0 million, respectively. The Company rents or subleases certain real estate to third parties, which are accounted for as operating leases. As of December 31, 2023, the Company has entered into a lease arrangement for seven years with an option to extend an additional five years. The tentative move date is March 2024, once the unit is made available. Base rent during the initial seven-year term of the 2024 lease agreement will total $2.3 million. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. The components of lease expense were as follows (in thousands):
| December 31, 2023 |  | December 31, 2022
Operating lease cost | $ | 7,771 |  |  | $ | 6,622 |
Finance lease cost |  |  |
Amortization of lease expense | 675 |  |  | 564 |
Interest on lease liabilities | 103 |  |  | 70 |
Sublease income | (1,025) |  |  | (649) |
Total lease cost | $ | 7,524 |  |  | $ | 6,607 |
Other information related to leases was as follows (dollars in thousands):
| December 31, 2023 |  | December 31, 2022
Supplemental Cash Flows Information |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 7,783 |  |  | $ | 6,781 |
Operating cash flows from finance leases | 103 |  |  | 70 |
Financing cash flows from finance leases | 675 |  |  | 564 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |
Operating leases | 25,124 |  |  | — |
Finance leases | 486 |  |  | 971 |
| December 31, 2023 |  | December 31, 2022
Weighted-Average Remaining Lease Term |  |  |
Operating leases | 8.73 years |  | 6.66 years
Finance leases | 3.00 years |  | 3.41 years
Weighted-Average Discount Rate |  |  |
Operating leases | 6.02 | % |  | 5.50 | %
Finance leases | 5.24 | % |  | 4.92 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):
Years ending December 31, | Operating Leases |  | Finance Leases
2024 | $ | 6,927 |  |  | $ | 719 |
2025 | 6,749 |  |  | 556 |
2026 | 6,342 |  |  | 302 |
2027 | 6,038 |  |  | 243 |
2028 | 5,844 |  |  | 6 |
Thereafter | 21,923 |  |  | — |
Total future minimum lease payments | 53,823 |  |  | 1,826 |
Less: imputed interest | 12,927 |  |  | 147 |
Total lease obligations | 40,896 |  |  | 1,679 |
Less: current portion | 4,607 |  |  | 646 |
Long-term lease obligations | $ | 36,289 |  |  | $ | 1,033 |
Leases | Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. This includes leases with properties that were spun-off as part of the Spin-Off. These leases have remaining lease terms ranging from one month to seventeen years, some of which may include options to extend the leases for up to ten years, and some of which may include options to terminate the leases within one year. These leases consist of payments that are fixed or variable. Variable lease payments are based on an index or a rate such as Consumer Price Index. As of December 31, 2023 and 2022, assets recorded under finance leases were $1.7 million and $1.8 million, respectively, and accumulated depreciation associated with finance leases was $1.6 million and $1.0 million, respectively. The Company rents or subleases certain real estate to third parties, which are accounted for as operating leases. As of December 31, 2023, the Company has entered into a lease arrangement for seven years with an option to extend an additional five years. The tentative move date is March 2024, once the unit is made available. Base rent during the initial seven-year term of the 2024 lease agreement will total $2.3 million. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. The components of lease expense were as follows (in thousands):
| December 31, 2023 |  | December 31, 2022
Operating lease cost | $ | 7,771 |  |  | $ | 6,622 |
Finance lease cost |  |  |
Amortization of lease expense | 675 |  |  | 564 |
Interest on lease liabilities | 103 |  |  | 70 |
Sublease income | (1,025) |  |  | (649) |
Total lease cost | $ | 7,524 |  |  | $ | 6,607 |
Other information related to leases was as follows (dollars in thousands):
| December 31, 2023 |  | December 31, 2022
Supplemental Cash Flows Information |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 7,783 |  |  | $ | 6,781 |
Operating cash flows from finance leases | 103 |  |  | 70 |
Financing cash flows from finance leases | 675 |  |  | 564 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |
Operating leases | 25,124 |  |  | — |
Finance leases | 486 |  |  | 971 |
| December 31, 2023 |  | December 31, 2022
Weighted-Average Remaining Lease Term |  |  |
Operating leases | 8.73 years |  | 6.66 years
Finance leases | 3.00 years |  | 3.41 years
Weighted-Average Discount Rate |  |  |
Operating leases | 6.02 | % |  | 5.50 | %
Finance leases | 5.24 | % |  | 4.92 | %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):
Years ending December 31, | Operating Leases |  | Finance Leases
2024 | $ | 6,927 |  |  | $ | 719 |
2025 | 6,749 |  |  | 556 |
2026 | 6,342 |  |  | 302 |
2027 | 6,038 |  |  | 243 |
2028 | 5,844 |  |  | 6 |
Thereafter | 21,923 |  |  | — |
Total future minimum lease payments | 53,823 |  |  | 1,826 |
Less: imputed interest | 12,927 |  |  | 147 |
Total lease obligations | 40,896 |  |  | 1,679 |
Less: current portion | 4,607 |  |  | 646 |
Long-term lease obligations | $ | 36,289 |  |  | $ | 1,033 |

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 finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
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