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Leases (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Lease Costs

The components of lease costs were as follows:

			Classification						Years Ended December 31,
(in thousands)									2023						2022						2021
Finance lease cost
Amortization of leased assets			Depreciation						$	477					$	477					$	498
Interest on lease liabilities			Interest expense						78						83						95
Operating lease cost			Operating expense1						6,982						7,570						7,063
Lease cost									$	7,537					$	8,130					$	7,656

_________________________________________

(1)Operating lease expense is presented in cost of service or selling, general and administrative expense based on the use of the relevant facility.

			December 31, 2023						December 31, 2022
Operating leases
Weighted average remaining lease term (years)			19.2						19.8
Weighted average discount rate			4.9		%				4.5		%
Finance leases
Weighted average remaining lease term (years)			12.3						13.1
Weighted average discount rate			5.2		%				5.2		%

						Years Ended December 31,
(in thousands)						2023						2022						2021
Cash paid for operating lease liabilities						$	6,379					$	6,116					$	5,643
Operating lease right-of-use assets obtained in exchange for new lease liabilities (includes new leases or modifications of existing leases)						$	2,037					$	2,527					$	11,140

Expected Maturity of Lease Liabilities, Operating

The following table summarizes the expected maturity of lease liabilities at December 31, 2023:

(in thousands)						Operating Leases						Finance Leases						Total
2024						$	5,626					$	178					$	5,804
2025						5,555						180						5,735
2026						4,702						153						4,855
2027						3,874						155						4,029
2028						3,539						158						3,697
2029 and thereafter						61,732						1,201						62,933
Total lease payments						85,028						2,025						87,053
Less: interest						(33,589)						(526)						(34,115)
Present value of lease liabilities						$	51,439					$	1,499					$	52,938

Expected Maturity of Lease Liabilities, Financing

The following table summarizes the expected maturity of lease liabilities at December 31, 2023:

(in thousands)						Operating Leases						Finance Leases						Total
2024						$	5,626					$	178					$	5,804
2025						5,555						180						5,735
2026						4,702						153						4,855
2027						3,874						155						4,029
2028						3,539						158						3,697
2029 and thereafter						61,732						1,201						62,933
Total lease payments						85,028						2,025						87,053
Less: interest						(33,589)						(526)						(34,115)
Present value of lease liabilities						$	51,439					$	1,499					$	52,938

Minimum Rental Receipts Under Lease Agreement Lessor, Operating Leases

Below is a summary of our contractual minimum rental receipts expected under the lease agreements in place at December 31, 2023:

(in thousands)						Operating Leases
2024						$	16,508
2025						15,574
2026						12,517
2027						11,022
2028						9,529
2029 and thereafter						16,275
Total						$	81,425

X

- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-4

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147478964/842-20-50-6

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- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479773/842-30-50-12

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