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Leases | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Leases |
5. | Leases
As of June 30, 2023, the weighted-average remaining lease term was 8.5 and 4.2 years for operating and finance leases, respectively. As of June 30, 2023, the weighted-average discount rate was 3.7% and 3.6% for operating and finance leases, respectively. The components of lease expense were as follows (U.S. dollars in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Operating lease expense |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 8,022 |  |  | $ | 10,261 |  |  | $ | 16,183 |  |  | $ | 20,700 |
Variable lease cost |  |  | 412 |  |  |  | 1,494 |  |  |  | 1,487 |  |  |  | 2,651 |
Short-term lease cost |  |  | — |  |  |  | 67 |  |  |  | — |  |  |  | 97 |
Finance lease expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 1,603 |  |  |  | 546 |  |  |  | 2,603 |  |  |  | 1,102 |
Interest on lease liabilities |  |  | 123 |  |  |  | 59 |  |  |  | 257 |  |  |  | 125 |
Total lease expense |  | $ | 10,160 |  |  | $ | 12,427 |  |  | $ | 20,530 |  |  | $ | 24,675 |
Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):
|  | Six Months Ended June 30, |
|  | 2023 |  |  | 2022 |
Operating cash outflow from operating leases |  | $ | 15,310 |  |  | $ | 19,895 |
Operating cash outflow from finance leases |  | $ | 260 |  |  | $ | 128 |
Financing cash outflow from finance leases |  | $ | 1,546 |  |  | $ | 927 |
Right-of-use assets obtained in exchange for operating lease obligations |  | $ | 14,052 |  |  | $ | 25,793 |
Right-of-use assets obtained in exchange for finance lease obligations |  | $ | 576 |  |  | $ | — |
Maturities of lease liabilities were as follows (U.S. dollars in thousands):
Year Ending December 31 |  | Operating Leases |  |  | Finance Leases |
2023 |  | $ | 13,320 |  |  | $ | 1,839 |
2024 |  |  | 22,765 |  |  |  | 3,440 |
2025 |  |  | 16,370 |  |  |  | 3,365 |
2026 |  |  | 11,077 |  |  |  | 3,271 |
2027 |  |  | 8,186 |  |  |  | 2,918 |
Thereafter |  |  | 40,068 |  |  |  | — |
Total |  |  | 111,786 |  |  |  | 14,833 |
Less: Finance charges |  |  | 15,448 |  |  |  | 1,126 |
Total principal liability |  | $ | 96,338 |  |  | $ | 13,707 |

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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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