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Leases (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Operating Lease Maturity | The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our leases as of September 30, 2024 are as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 9,697 |  |  | $ | 5,229 |
2025 |  | 38,680 |  |  | 20,915 |
2026 |  | 37,916 |  |  | 13,462 |
2027 |  | 11,332 |  |  | — |
2028 |  | 821 |  |  | — |
Total undiscounted future lease payments |  | 98,446 |  |  | 39,606 |
Less: amount representing interest |  | (8,639) |  |  | (2,494) |
Present value of future lease payments (lease obligation) |  | $ | 89,807 |  |  | $ | 37,112 |
Finance Lease Maturity | The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our leases as of September 30, 2024 are as follows:
(in thousands) |  | Operating Leases |  | Finance Leases
2024 |  | $ | 9,697 |  |  | $ | 5,229 |
2025 |  | 38,680 |  |  | 20,915 |
2026 |  | 37,916 |  |  | 13,462 |
2027 |  | 11,332 |  |  | — |
2028 |  | 821 |  |  | — |
Total undiscounted future lease payments |  | 98,446 |  |  | 39,606 |
Less: amount representing interest |  | (8,639) |  |  | (2,494) |
Present value of future lease payments (lease obligation) |  | $ | 89,807 |  |  | $ | 37,112 |
Lease, Cost | Supplemental cash flow information related to leases are as follows:
|  | Nine Months Ended September 30,
(in thousands) |  | 2024 |  | 2023
Cash paid for amounts included in the measurements of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 23,929 |  |  | $ | 1,430 |
Operating cash flows from finance lease |  | 2,272 |  |  | 196 |
Financing cash flows from finance lease |  | 13,067 |  |  | 889 |
Noncash lease obligations arising from obtaining right-of-use assets related to: |  |  |  |
Operating leases (1) |  | 53,071 |  |  | 24,890 |
Finance lease (2) |  | 2,230 |  |  | 27,244 |
(1)D uring the nine months ended September 30, 2024, we recorded noncash operating lease obligations a rising from obtaining right-of-use assets related to the receipt of equipment under the Electric Fleet Two Lease, the Electric Fleet Three Lease, the Electric Fleet Four Lease and the Electric Fleet Five Lease. During the nine months ended September 30, 2023, we recorded a noncash operating lease obligations a rising from obtaining right-of-use assets related to our execution of the Real Estate Two Lease, the Silvertip Three Lease, the Silvertip Office Lease, the Electric Fleet One Lease and the Corporate Office Lease, and our extension of the Silvertip One Lease. (2)During the nine months ended September 30, 2024, we recorded noncash finance lease obligations related to the Power Equipment Lease. During the nine months ended September 30, 2023, we recorded noncash finance lease obligations arising from obtaining right-of-use assets related to the commencement of the Power Equipment Lease. The components of lease costs are as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(in thousands) |  | 2024 |  | 2023 |  | 2024 |  | 2023
Operating lease cost |  | $ | 12,884 |  |  | $ | 1,178 |  |  | $ | 33,845 |  |  | $ | 1,857 |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | 4,849 |  |  | 977 |  |  | 14,117 |  |  | 977 |
Interest on lease liabilities |  | 704 |  |  | 196 |  |  | 2,272 |  |  | 196 |
Total finance lease cost |  | 5,553 |  |  | 1,173 |  |  | 16,389 |  |  | 1,173 |
Variable lease cost |  | 1,107 |  |  | — |  |  | 2,526 |  |  | — |
Short-term lease cost |  | 210 |  |  | 173 |  |  | 657 |  |  | 626 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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