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LEASES (Tables)

9 Months Ended

Sep. 30, 2024

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