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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases We lease certain office space, equipment and vehicles. These leases are either non-cancelable, cancellable only by the payment of penalties or cancellable upon notice provided. All lease payments are based on the lapse of time and certain leases are subject to annual escalations for increases in base rents. The Company's lease terms includes options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Operating and Finance Leases The Company's operating leases primarily include material leases of buildings (consisting primarily of office lease commitments) and equipment. These leases are classified as operating leases and are recognized as right-of-use assets and operating lease liabilities on the consolidated balance sheets. The Company's finance leases primarily include equipment and vehicles in certain contracts with payment terms on the lease agreements that range between 30 and 50 months. The following tables present our operating and finance leases as of December 31, 2024, and 2023:
(Amounts in thousands) |  | Balance Sheet Classification |  | December 31, 2024 |  | December 31, 2023
Assets: |  |  |  |  |  |
Operating lease assets |  | Operating lease, right-of-use assets |  | $ | 42,085 |  |  | $ | 40,743 |
Finance lease assets |  | Property and equipment, net |  | 25,981 |  |  | 19,543 |
Total lease assets |  |  |  | $ | 68,066 |  |  | $ | 60,286 |
Liabilities: |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease obligation, current portion |  | $ | (10,979) |  |  | $ | (9,016) |
Finance lease liabilities |  | Finance lease obligation, current portion |  | (10,394) |  |  | (6,586) |
Total current lease liabilities |  |  |  | $ | (21,373) |  |  | $ | (15,602) |
Non-current: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease obligation, less current portion |  | $ | (37,058) |  |  | $ | (37,660) |
Finance lease liabilities |  | Finance lease obligation, less current portion |  | (17,940) |  |  | (14,408) |
Total non-current lease liabilities |  |  |  | $ | (54,998) |  |  | $ | (52,068) |
The following tables present selected financial information for the year ended December 31, 2024, and 2023:
(Amounts in thousands) | December 31, 2024 |  | December 31, 2023
Operating lease cost |  |  |
Amortization of right-of-use assets | $ | 13,219 |  |  | $ | 11,192 |
Short-term and variable lease cost | 1 |  |  | 9 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | 9,905 |  | 7,262
Interest on lease liabilities | 1,714 |  | 1,464
Sublease income | (106) |  | (75)
Total lease cost | $ | 24,733 |  |  | $ | 19,852 |
(Amounts in thousands) | December 31, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurements of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 13,264 |  |  | $ | 10,445 |
Operating cash flows from finance leases | 1,712 |  |  | 1,462 |
Financing cash flows from finance leases | 9,010 |  |  | 6,782 |
Right-of-use assets obtained in exchange for new operating leases | 11,473 |  |  | 19,030 |
Right-of-use assets obtained in exchange for new finance leases | 16,458 |  |  | 8,245 |
| December 31, 2024 |  | December 31, 2023
Weighted average remaining lease term (in years): |  |  |
Operating leases | 4.71 |  | 5.28
Finance leases | 2.48 |  | 2.73
Weighted average discount rates: |  |  |
Operating leases | 6.7 | % |  | 7.1 | %
Finance leases | 6.7 | % |  | 7.4 | %
Future minimum commitments under leases for the succeeding years are as follows (in thousands):
(Amounts in thousands) |  |  |
Year ending December 31, | Operating Lease |  | Finance Lease
2025 | $ | 13,629 |  |  | $ | 11,799 |
2026 | 11,780 |  |  | 8,290 |
2027 | 10,300 |  |  | 4,085 |
2028 | 9,243 |  |  | 1,367 |
2029 | 6,386 |  |  | – |
Thereafter | 4,782 |  |  | – |
Total lease payments | $ | 56,120 |  |  | $ | 25,541 |
Less: Amounts representing interest | $ | (8,174) |  |  | $ | (2,707) |
Total lease liabilities | $ | 47,946 |  |  | $ | 22,833 |
The future minimum commitments for operating leases are inclusive of the $0.1 million sub-lease income associated with the $48.0 million total liability to operating leases as presented on the consolidated balance sheet. The future minimum commitments for finance leases are exclusive of the $5.5 million bargain purchase price associated with the $28.3 million total liability to finance leases as presented on the consolidated balance sheet.
Leases | Leases We lease certain office space, equipment and vehicles. These leases are either non-cancelable, cancellable only by the payment of penalties or cancellable upon notice provided. All lease payments are based on the lapse of time and certain leases are subject to annual escalations for increases in base rents. The Company's lease terms includes options to extend or terminate the lease when it is reasonably certain that the option will be exercised. Operating and Finance Leases The Company's operating leases primarily include material leases of buildings (consisting primarily of office lease commitments) and equipment. These leases are classified as operating leases and are recognized as right-of-use assets and operating lease liabilities on the consolidated balance sheets. The Company's finance leases primarily include equipment and vehicles in certain contracts with payment terms on the lease agreements that range between 30 and 50 months. The following tables present our operating and finance leases as of December 31, 2024, and 2023:
(Amounts in thousands) |  | Balance Sheet Classification |  | December 31, 2024 |  | December 31, 2023
Assets: |  |  |  |  |  |
Operating lease assets |  | Operating lease, right-of-use assets |  | $ | 42,085 |  |  | $ | 40,743 |
Finance lease assets |  | Property and equipment, net |  | 25,981 |  |  | 19,543 |
Total lease assets |  |  |  | $ | 68,066 |  |  | $ | 60,286 |
Liabilities: |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease obligation, current portion |  | $ | (10,979) |  |  | $ | (9,016) |
Finance lease liabilities |  | Finance lease obligation, current portion |  | (10,394) |  |  | (6,586) |
Total current lease liabilities |  |  |  | $ | (21,373) |  |  | $ | (15,602) |
Non-current: |  |  |  |  |  |
Operating lease liabilities |  | Operating lease obligation, less current portion |  | $ | (37,058) |  |  | $ | (37,660) |
Finance lease liabilities |  | Finance lease obligation, less current portion |  | (17,940) |  |  | (14,408) |
Total non-current lease liabilities |  |  |  | $ | (54,998) |  |  | $ | (52,068) |
The following tables present selected financial information for the year ended December 31, 2024, and 2023:
(Amounts in thousands) | December 31, 2024 |  | December 31, 2023
Operating lease cost |  |  |
Amortization of right-of-use assets | $ | 13,219 |  |  | $ | 11,192 |
Short-term and variable lease cost | 1 |  |  | 9 |
Finance lease cost: |  |  |
Amortization of right-of-use assets | 9,905 |  | 7,262
Interest on lease liabilities | 1,714 |  | 1,464
Sublease income | (106) |  | (75)
Total lease cost | $ | 24,733 |  |  | $ | 19,852 |
(Amounts in thousands) | December 31, 2024 |  | December 31, 2023
Cash paid for amounts included in the measurements of lease liabilities: |  |  |
Operating cash flows from operating leases | $ | 13,264 |  |  | $ | 10,445 |
Operating cash flows from finance leases | 1,712 |  |  | 1,462 |
Financing cash flows from finance leases | 9,010 |  |  | 6,782 |
Right-of-use assets obtained in exchange for new operating leases | 11,473 |  |  | 19,030 |
Right-of-use assets obtained in exchange for new finance leases | 16,458 |  |  | 8,245 |
| December 31, 2024 |  | December 31, 2023
Weighted average remaining lease term (in years): |  |  |
Operating leases | 4.71 |  | 5.28
Finance leases | 2.48 |  | 2.73
Weighted average discount rates: |  |  |
Operating leases | 6.7 | % |  | 7.1 | %
Finance leases | 6.7 | % |  | 7.4 | %
Future minimum commitments under leases for the succeeding years are as follows (in thousands):
(Amounts in thousands) |  |  |
Year ending December 31, | Operating Lease |  | Finance Lease
2025 | $ | 13,629 |  |  | $ | 11,799 |
2026 | 11,780 |  |  | 8,290 |
2027 | 10,300 |  |  | 4,085 |
2028 | 9,243 |  |  | 1,367 |
2029 | 6,386 |  |  | – |
Thereafter | 4,782 |  |  | – |
Total lease payments | $ | 56,120 |  |  | $ | 25,541 |
Less: Amounts representing interest | $ | (8,174) |  |  | $ | (2,707) |
Total lease liabilities | $ | 47,946 |  |  | $ | 22,833 |
The future minimum commitments for operating leases are inclusive of the $0.1 million sub-lease income associated with the $48.0 million total liability to operating leases as presented on the consolidated balance sheet. The future minimum commitments for finance leases are exclusive of the $5.5 million bargain purchase price associated with the $28.3 million total liability to finance leases as presented on the consolidated balance sheet.

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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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