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Leases | 9 Months Ended
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Sep. 30, 2023
Leases [Abstract] |
Leases |
5. | Leases
As of September 30, 2023, the weighted-average remaining lease term was 8.7 and 3.9 years for operating and finance leases, respectively. As of September 30, 2023, the weighted-average discount rate was 3.6% and 3.7% for operating and finance leases, respectively. The components of lease expense were as follows (U.S. dollars in thousands):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Operating lease expense |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 6,762 |  |  | $ | 9,479 |  |  | $ | 22,945 |  |  | $ | 30,179 |
Variable lease cost |  |  | 1,923 |  |  |  | 1,572 |  |  |  | 3,410 |  |  |  | 4,223 |
Short-term lease cost |  |  | — |  |  |  | 84 |  |  |  | — |  |  |  | 181 |
Finance lease expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 1,240 |  |  |  | 530 |  |  |  | 3,843 |  |  |  | 1,632 |
Interest on lease liabilities |  |  | 123 |  |  |  | 53 |  |  |  | 380 |  |  |  | 178 |
Total lease expense |  | $ | 10,048 |  |  | $ | 11,718 |  |  | $ | 30,578 |  |  | $ | 36,393 |
Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):
|  | Nine Months Ended September 30, |
|  | 2023 |  |  | 2022 |
Operating cash outflow from operating leases |  | $ | 21,975 |  |  | $ | 28,880 |
Operating cash outflow from finance leases |  | $ | 360 |  |  | $ | 170 |
Financing cash outflow from finance leases |  | $ | 2,382 |  |  | $ | 1,401 |
Right-of-use assets obtained in exchange for operating lease obligations |  | $ | 14,351 |  |  | $ | 28,785 |
Right-of-use assets obtained in exchange for finance lease obligations |  | $ | 782 |  |  | $ | 203 |
Maturities of lease liabilities were as follows (U.S. dollars in thousands):
Year Ending December 31 |  | Operating Leases |  |  | Finance Leases |
2023 |  | $ | 5,967 |  |  | $ | 903 |
2024 |  |  | 20,769 |  |  |  | 3,479 |
2025 |  |  | 14,696 |  |  |  | 3,293 |
2026 |  |  | 10,227 |  |  |  | 3,197 |
2027 |  |  | 7,658 |  |  |  | 2,844 |
Thereafter |  |  | 43,097 |  |  |  | — |
Total |  |  | 102,414 |  |  |  | 13,716 |
Less: Finance charges |  |  | 14,204 |  |  |  | 986 |
Total principal liability |  | $ | 88,210 |  |  | $ | 12,730 |
The Company has additional lease liabilities of $3.5 million which have not yet commenced as of September 30, 2023, and as such, have not been recognized on the consolidated balance sheets.

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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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