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Leases | 6 Months Ended
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Jun. 30, 2024
Leases [Abstract] |
Leases | 17. Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. These leases have remaining lease terms of 1 month to 17 years. Some of the leases may include options to extend the lease terms for up to ten years, and some of the leases may include options to terminate the leases within one year. As of June 30, 2024, and December 31, 2023, assets recorded under finance leases were $1.5 million and $1.7 million, respectively, and accumulated depreciation associated with finance leases was $1.9 million and $1.6 million, respectively. Also, the Company rents or subleases certain real estate to third parties, which are accounted for as operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheets. The components of lease expense were as follows (dollars in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 3,074 |  |  | $ | 1,816 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 182 |  |  |  | 149 |
Interest on lease liabilities |  |  | 22 |  |  |  | 22 |
Sublease income |  |  | (18 | ) |  |  | (252 | )
Total lease cost, net |  | $ | 3,260 |  |  | $ | 1,735 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 6,233 |  |  | $ | 3,568 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 362 |  |  |  | 303 |
Interest on lease liabilities |  |  | 46 |  |  |  | 45 |
Sublease income |  |  | (244 | ) |  |  | (499 | )
Total lease cost, net |  | $ | 6,397 |  |  | $ | 3,417 |
Other information related to leases was as follows (in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,749 |  |  | $ | 1,937 |
Operating cash flows from finance leases |  |  | 22 |  |  |  | 22 |
Financing cash flows from finance leases |  |  | 182 |  |  |  | 149 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,586 |  |  | $ | 3,678 |
Operating cash flows from finance leases |  |  | 46 |  |  |  | 45 |
Financing cash flows from finance leases |  |  | 362 |  |  |  | 303 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Weighted Average Remaining Lease Term |  |  |  |  |  |
Operating leases |  | 6.52 years |  |  | 6.77 years |
Finance leases |  | 2.82 years |  |  | 3.12 years |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 6.56 | % |  |  | 5.71 | %
Finance leases |  |  | 5.62 | % |  |  | 5.08 | %
The following are future minimum lease payments under non-cancellable leases for the years ending December 31 (in thousands) below:
|  | Operating Leases |  |  | Finance Leases |
2024 (excluding the six months ended June 30, 2024) |  | $ | 3,411 |  |  | $ | 355 |
2025 |  |  | 6,778 |  |  |  | 599 |
2026 |  |  | 6,406 |  |  |  | 345 |
2027 |  |  | 5,936 |  |  |  | 265 |
2028 |  |  | 5,704 |  |  |  | 27 |
Thereafter |  |  | 12,072 |  |  |  | 9 |
Total future minimum lease payments |  |  | 40,307 |  |  |  | 1,600 |
Less: imputed interest |  |  | 8,331 |  |  |  | 130 |
Total lease liabilities |  |  | 31,976 |  |  |  | 1,470 |
Less: current portion |  |  | 4,884 |  |  |  | 591 |
Long-term lease liabilities |  | $ | 27,092 |  |  | $ | 879 |
Leases | 17. Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. These leases have remaining lease terms of 1 month to 17 years. Some of the leases may include options to extend the lease terms for up to ten years, and some of the leases may include options to terminate the leases within one year. As of June 30, 2024, and December 31, 2023, assets recorded under finance leases were $1.5 million and $1.7 million, respectively, and accumulated depreciation associated with finance leases was $1.9 million and $1.6 million, respectively. Also, the Company rents or subleases certain real estate to third parties, which are accounted for as operating leases. Leases with an initial term of 12 months or less are not recorded on the balance sheets. The components of lease expense were as follows (dollars in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 3,074 |  |  | $ | 1,816 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 182 |  |  |  | 149 |
Interest on lease liabilities |  |  | 22 |  |  |  | 22 |
Sublease income |  |  | (18 | ) |  |  | (252 | )
Total lease cost, net |  | $ | 3,260 |  |  | $ | 1,735 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Operating lease cost |  | $ | 6,233 |  |  | $ | 3,568 |
Finance lease cost |  |  |  |  |  |
Amortization of lease expense |  |  | 362 |  |  |  | 303 |
Interest on lease liabilities |  |  | 46 |  |  |  | 45 |
Sublease income |  |  | (244 | ) |  |  | (499 | )
Total lease cost, net |  | $ | 6,397 |  |  | $ | 3,417 |
Other information related to leases was as follows (in thousands):
|  | Three Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,749 |  |  | $ | 1,937 |
Operating cash flows from finance leases |  |  | 22 |  |  |  | 22 |
Financing cash flows from finance leases |  |  | 182 |  |  |  | 149 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Supplemental Cash Flow Information |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 5,586 |  |  | $ | 3,678 |
Operating cash flows from finance leases |  |  | 46 |  |  |  | 45 |
Financing cash flows from finance leases |  |  | 362 |  |  |  | 303 |
|  | Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |
Weighted Average Remaining Lease Term |  |  |  |  |  |
Operating leases |  | 6.52 years |  |  | 6.77 years |
Finance leases |  | 2.82 years |  |  | 3.12 years |
Weighted Average Discount Rate |  |  |  |  |  |
Operating leases |  |  | 6.56 | % |  |  | 5.71 | %
Finance leases |  |  | 5.62 | % |  |  | 5.08 | %
The following are future minimum lease payments under non-cancellable leases for the years ending December 31 (in thousands) below:
|  | Operating Leases |  |  | Finance Leases |
2024 (excluding the six months ended June 30, 2024) |  | $ | 3,411 |  |  | $ | 355 |
2025 |  |  | 6,778 |  |  |  | 599 |
2026 |  |  | 6,406 |  |  |  | 345 |
2027 |  |  | 5,936 |  |  |  | 265 |
2028 |  |  | 5,704 |  |  |  | 27 |
Thereafter |  |  | 12,072 |  |  |  | 9 |
Total future minimum lease payments |  |  | 40,307 |  |  |  | 1,600 |
Less: imputed interest |  |  | 8,331 |  |  |  | 130 |
Total lease liabilities |  |  | 31,976 |  |  |  | 1,470 |
Less: current portion |  |  | 4,884 |  |  |  | 591 |
Long-term lease liabilities |  | $ | 27,092 |  |  | $ | 879 |

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- 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
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- 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
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