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Leases and Other (Tables)

9 Months Ended

Sep. 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:


				September 30,				December 31,
(in thousands)		Classification on the Condensed Consolidated Balance Sheet		2024				2023
Assets:
Operating lease ROU assets		Operating lease ROU assets		$	100,404			$	109,774
Finance lease ROU assets, net		Property and equipment, net			54,330				57,120
Total lease ROU assets				$	154,734			$	166,894

Liabilities:
Current:
Operating lease obligations		Operating lease obligations		$	17,807			$	17,334
Finance lease obligations		Current portion of debt and finance obligations			2,530				2,742
Noncurrent:
Operating lease obligations		Long-term operating lease obligations			96,502				106,109
Finance lease obligations		Long-term debt and finance obligations			60,667				61,187
Total lease liabilities				$	177,506			$	187,372

Components of Lease Expense

The components of lease expense consisted of the following:


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(in thousands)		2024				2023				2024				2023
Finance lease cost:
Amortization of ROU assets		$	1,022			$	1,092			$	3,238			$	3,196
Interest on lease liabilities			1,423				1,430				4,283				4,267
Operating lease cost			6,875				6,753				20,562				19,546
Short-term lease cost			1,464				1,431				3,103				2,816
Variable lease cost			1,086				1,220				3,622				3,958
Total lease cost, net		$	11,870			$	11,926			$	34,808			$	33,783

Schedule of Other Information Related to Operating and Finance Leases

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


		Three Months Ended								Nine Months Ended
		September 30,								September 30,
(in thousands)		2024				2023				2024				2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	7,029			$	6,862			$	21,424			$	20,183
Operating cash flows from finance leases		$	1,609			$	1,512			$	4,776			$	4,564
Financing cash flows from finance leases		$	743			$	687			$	2,308			$	2,415
ROU assets obtained in exchange for lease obligations:
Operating leases		$	1,545			$	5,803			$	5,173			$	23,390
Finance leases (1)		$	273			$	433			$	1,515			$	796

(1)

Includes terminations of equipment finance leases during 2023.


						September 30,				December 31,
						2024				2023
Weighted-average remaining lease term (years):
Operating leases							7.22				7.64
Finance leases							33.10				33.47
Weighted-average discount rate:
Operating leases							7.94	%			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 September 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		$	5,943			$	2,371			$	8,314
2025			27,440				7,924				35,364
2026			25,687				7,229				32,916
2027			21,896				6,749				28,645
2028			15,937				6,347				22,284
Thereafter			57,064				174,774				231,838
Total future lease payments			153,967				205,394				359,361
Less: Amount representing interest			(39,658	)			(142,197	)			(181,855	)
Present value of minimum lease payments			114,309				63,197				177,506
Current portion			(17,807	)			(2,530	)			(20,337	)
Long-term portion		$	96,502			$	60,667			$	157,169

Schedule of Estimated Future Minimum Rentals Under Non-cancellable Leases

As of September 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		$	827
2025			1,957
2026			1,678
2027			972
2028			799
Thereafter			2,081
Total minimum rents		$	8,314