XML 25 R14.htm IDEA: XBRL DOCUMENT

Leases

6 Months Ended

Jun. 30, 2024

As of June 30, 2024, the weighted-average remaining lease term was 7.0 and 3.3 years for operating and finance leases, respectively. As of June 30, 2024, the weighted-average discount rate was 3.7% 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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Operating lease expense
Operating lease cost	$	5,873	$	8,022	$	11,939	$	16,183
Variable lease cost		964		412		2,740		1,487
Finance lease expense
Amortization of right-of-use assets		725		1,603		1,483		2,603
Interest on lease liabilities		94		123		203		257
Total lease expense	$	7,656	$	10,160	$	16,365	$	20,530

Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):

	Six Months Ended June 30,
	2024		2023
Operating cash outflow from operating leases	$	12,515	$	15,310
Operating cash outflow from finance leases	$	204	$	260
Financing cash outflow from finance leases	$	1,560	$	1,546
Right-of-use assets obtained in exchange for operating lease obligations	$	14,595	$	14,052
Right-of-use assets obtained in exchange for finance lease obligations	$	10	$	576

Maturities of lease liabilities were as follows (U.S. dollars in thousands):

Year Ending December 31	Operating Leases		Finance Leases
2024	$	12,332	$	1,569
2025		20,230		2,891
2026		15,540		2,884
2027		11,810		2,811
2028		8,738		60
Thereafter		32,402		—
Total		101,052		10,215
Less: Finance charges		10,731		643
Total principal liability	$	90,321	$	9,572