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Leases and Other (Tables)

6 Months Ended

Jun. 30, 2024

Leases [Abstract]

Summary of Balance Sheet Presentation of Operating and Finance Leases

The balance sheet presentation of our operating and finance leases is as follows:


				June 30,				December 31,
(in thousands)		Classification on the Condensed Consolidated Balance Sheet		2024				2023
Assets:
Operating lease ROU assets		Operating lease ROU assets		$	102,997			$	109,774
Finance lease ROU assets		Property and equipment, net			53,800				57,120
Total lease ROU assets				$	156,797			$	166,894

Liabilities:
Current:
Operating lease obligations		Operating lease obligations		$	17,326			$	17,334
Finance lease obligations		Current portion of debt and finance obligations			2,590				2,742
Noncurrent:
Operating lease obligations		Long-term operating lease obligations			99,456				106,109
Finance lease obligations		Long-term debt and finance obligations			60,680				61,187
Total lease liabilities				$	180,052			$	187,372

Components of Lease Expense

The components of lease expense consisted of the following:


		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in thousands)		2024				2023				2024				2023
Finance lease cost:
Amortization of ROU assets		$	1,103			$	1,048			$	2,216			$	2,104
Interest on lease liabilities			1,424				1,427				2,860				2,837
Operating lease cost			6,824				6,586				13,687				12,793
Short-term lease cost			996				950				1,639				1,385
Variable lease cost			1,296				1,510				2,536				2,738
Total lease cost, net		$	11,643			$	11,521			$	22,938			$	21,857

Schedule of Other Information Related to Operating and Finance Leases

Other information related to operating and finance leases are as follows:


		Three Months Ended								Six Months Ended
		June 30,								June 30,
(in thousands)		2024				2023				2024				2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	7,634			$	6,669			$	14,395			$	13,321
Operating cash flows from finance leases		$	1,601			$	1,535			$	3,167			$	3,052
Financing cash flows from finance leases		$	747			$	572			$	1,565			$	1,177
ROU assets obtained in exchange for lease obligations:
Operating leases		$	383			$	14,571			$	3,628			$	17,587
Finance leases(1)		$	500			$	376			$	1,242			$	363

(1)

Includes terminations of equipment finance leases during 2023.


						June 30,				December 31,
						2024				2023
Weighted-average remaining lease term (years):
Operating leases							7.35				7.64
Finance leases							33.15				33.47
Weighted-average discount rate:
Operating leases							7.93	%			7.88	%
Finance leases							9.19	%			9.17	%

Schedule of Estimated Future Minimum Lease Payments Under Non-cancellable Leases Excluding Variable Leases and Variable Non-lease Components

As of June 30, 2024, the estimated future minimum lease payments under non-cancellable leases, excluding variable leases and variable non-lease components, are as follows:


(in thousands)		Operating Leases				Finance Leases				Total
Remainder of 2024		$	12,226			$	4,048			$	16,274
2025			26,203				7,827				34,030
2026			25,081				7,131				32,212
2027			21,480				6,693				28,173
2028			15,636				6,353				21,989
Thereafter			56,576				174,868				231,444
Total future lease payments			157,202				206,920				364,122
Less: Amount representing interest			(40,420	)			(143,650	)			(184,070	)
Present value of minimum lease payments			116,782				63,270				180,052
Current portion			(17,326	)			(2,590	)			(19,916	)
Long-term portion		$	99,456			$	60,680			$	160,136

Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases

As of June 30, 2024, the estimated future minimum rental income under non-cancellable leases, which includes rental income from facilities that we own, are as follows:


(in thousands)
Remainder of 2024		$	1,045
2025			1,879
2026			1,630
2027			947
2028			775
Thereafter			2,078
Total minimum rents		$	8,354