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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2024
LEASES |
Schedule of right-of-use lease assets and lease liabilities | The Company’s right-of-use lease assets and lease liabilities at September 30, 2024 and December 31, 2023 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | September 30, | ​ | December 31,
​ |  | Classification |  | 2024 |  | 2023
Assets: | ​ |  |  | ​ |  |  | ​ |
Operating lease assets | ​ | Operating lease right-of-use assets | ​ | $ | 30,732 | ​ | $ | 39,783
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ |  | ​ |  |  | ​ |  |
Current Operating | ​ | Operating lease liabilities | ​ | $ | 10,644 | ​ | $ | 15,739
Non-Current Operating | ​ | Operating lease liabilities, net of current | ​ |  | 33,249 | ​ |  | 38,711
Total Operating lease liabilities | ​ | ​ | ​ | $ | 43,893 | ​ | $ | 54,450
Schedule of components of lease expense | The components of lease expense for the three and nine months ended September 30, 2024 and 2023 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Three months ended | ​ | Nine months ended
​ | ​ | September 30, | ​ | September 30, | ​ | September 30, | ​ | September 30,
​ | ​ | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost* | ​ | $ | 4,165 | ​ | $ | 4,708 | ​ | $ | 12,471 | ​ | $ | 14,205
Short-term lease cost | ​ |  | 3,362 | ​ |  | 3,454 | ​ |  | 10,216 | ​ |  | 10,544
Variable lease costs (costs excluded from minimum fixed lease payments)** | ​ |  | 814 | ​ |  | 819 | ​ |  | 2,497 | ​ |  | 2,525
Sublease income | ​ |  | (209) | ​ |  | (282) | ​ |  | (686) | ​ |  | (1,105)
Net lease cost | ​ | $ | 8,132 | ​ | $ | 8,699 | ​ | $ | 24,498 | ​ | $ | 26,169
* | No accelerated amortization was recorded in the three and nine months ended September 30, 2024. Operating lease costs for three and nine months ended September 30, 2023 included $0.2 million and $0.8 million, respectively, of accelerated amortization for certain assets partially or fully vacated with no intent or ability to sublease.
** | No variable lease costs were accrued in the three and nine months ended September 30, 2024 or 2023 for future estimated variable expenses related to certain assets partially or fully vacated with no intent or ability to sublease.
​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, | ​ | December 31, | ​
​ |  | 2024 |  | 2023 |
Weighted average remaining lease term (years): |  |  |  |  | ​
Operating leases |  | 5.44 |  | 5.50 | ​
Weighted average discount rate: |  |  | ​ |  | ​
Operating leases |  | 7.20 | % | 6.34 | %
Schedule of future minimum fixed lease payments under noncancelable leases | Future minimum fixed lease payments under noncancelable leases at September 30, 2024 were as follows (in thousands):
​ | ​ | ​ | ​
​ |  | Operating
​ | ​ | leases
Remainder of 2024 | ​ | $ | 4,585
2025 | ​ |  | 11,118
2026 | ​ |  | 9,313
2027 | ​ |  | 7,987
2028 | ​ |  | 6,452
2029 and beyond | ​ |  | 13,164
Total lease payments | ​ |  | 52,619
Less: interest | ​ |  | (8,726)
Present value of lease liabilities | ​ | $ | 43,893
​

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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 + Details
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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 + Details
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