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Leases | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Leases |
5. | Leases
As of September 30, 2024, the weighted-average remaining lease term was 6.9 and 3.1 years for operating and finance leases, respectively. As of September 30, 2024, 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, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease expense |  |  |  |  |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 5,953 |  |  | $ | 6,762 |  |  | $ | 17,892 |  |  | $ | 22,945 |
Variable lease cost |  |  | 1,961 |  |  |  | 1,923 |  |  |  | 4,701 |  |  |  | 3,410 |
Finance lease expense |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  |  | 700 |  |  |  | 1,240 |  |  |  | 2,183 |  |  |  | 3,843 |
Interest on lease liabilities |  |  | 86 |  |  |  | 123 |  |  |  | 289 |  |  |  | 380 |
Total lease expense |  | $ | 8,700 |  |  | $ | 10,048 |  |  | $ | 25,065 |  |  | $ | 30,578 |
Supplemental cash flow information related to leases was as follows (U.S. dollars in thousands):
|  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |
Operating cash outflow from operating leases |  | $ | 19,103 |  |  | $ | 21,975 |
Operating cash outflow from finance leases |  | $ | 295 |  |  | $ | 360 |
Financing cash outflow from finance leases |  | $ | 2,302 |  |  | $ | 2,382 |
Right-of-use assets obtained in exchange for operating lease obligations |  | $ | 14,914 |  |  | $ | 14,351 |
Right-of-use assets obtained in exchange for finance lease obligations |  | $ | 10 |  |  | $ | 782 |
Maturities of lease liabilities were as follows (U.S. dollars in thousands):
Year Ending December 31 |  | Operating Leases |  |  | Finance Leases |
2024 |  | $ | 6,371 |  |  | $ | 733 |
2025 |  |  | 21,164 |  |  |  | 2,822 |
2026 |  |  | 16,202 |  |  |  | 2,817 |
2027 |  |  | 12,304 |  |  |  | 2,795 |
2028 |  |  | 9,112 |  |  |  | 736 |
Thereafter |  |  | 32,953 |  |  |  | — |
Total |  |  | 98,106 |  |  |  | 9,903 |
Less: Finance charges |  |  | 10,072 |  |  |  | 612 |
Total principal liability |  | $ | 88,034 |  |  | $ | 9,291 |
The Company has additional lease liabilities of $0.1 million which have not yet commenced as of September 30, 2024, 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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