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LEASES (Tables) | 9 Months Ended
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Sep. 30, 2024
Leases [Abstract] |
Assets and Liabilities, Lessee | Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands):
|  | Classification |  | September 30, 2024 |  | December 31, 2023
Right-of-Use Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 33,768 |  |  | $ | 32,219 |
Total leased ROU assets |  |  |  | $ | 33,768 |  |  | $ | 32,219 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other accrued liabilities |  | $ | 11,034 |  |  | $ | 9,049 |
Noncurrent |  |  |  |  |  |
Operating |  | Other non-current liabilities |  | 22,734 |  |  | 23,170 |
Total lease liabilities |  |  |  | $ | 33,768 |  |  | $ | 32,219 |
Lease, Cost | Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands):
|  | Classification |  | Three Months Ended September 30, 2024 |  | Three Months Ended September 30, 2023
Operating lease cost |  | Cost of sales, selling expenses and general and administrative expense |  | $ | 3,111 |  |  | $ | 2,442 |
Net lease cost |  |  |  | $ | 3,111 |  |  | $ | 2,442 |
|  | Classification |  | Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023
Operating lease cost |  | Cost of sales, selling expenses and general and administrative expense |  | $ | 8,776 |  |  | $ | 6,440 |
Net lease cost |  |  |  | $ | 8,776 |  |  | $ | 6,440 |
Remaining lease term and discount rates are as follows:
|  | September 30, 2024 |  | December 31, 2023
Weighted average remaining lease term (years) |  |  |  |
Operating leases |  | 3.3 |  | 3.8
Weighted average discount rate |  |  |  |
Operating leases |  | 5.07 | % |  | 4.94 | %
Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands):
|  | Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 8,837 |  |  | $ | 6,434 |
Operating cash flows from finance leases |  | $ | — |  |  | $ | — |
Financing cash flows from finance leases |  | $ | — |  |  | $ | — |
Operating Lease, Liability, Maturity | Maturity of the Company’s lease liabilities as of September 30, 2024 is as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2024 (remainder) |  | $ | 3,202 |  |  | $ | — |  |  | $ | 3,202 |
2025 |  | 12,268 |  |  | — |  |  | 12,268 |
2026 |  | 11,132 |  |  | — |  |  | 11,132 |
2027 |  | 6,134 |  |  | — |  |  | 6,134 |
2028 |  | 2,550 |  |  | — |  |  | 2,550 |
Thereafter |  | 1,428 |  |  | — |  |  | 1,428 |
Total lease payments |  | $ | 36,714 |  |  | $ | — |  |  | $ | 36,714 |
Less: interest |  | 2,946 |  |  | — |  |  |
Present value of lease payments |  | $ | 33,768 |  |  | $ | — |  |  |
Finance Lease, Liability, Maturity | Maturity of the Company’s lease liabilities as of September 30, 2024 is as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2024 (remainder) |  | $ | 3,202 |  |  | $ | — |  |  | $ | 3,202 |
2025 |  | 12,268 |  |  | — |  |  | 12,268 |
2026 |  | 11,132 |  |  | — |  |  | 11,132 |
2027 |  | 6,134 |  |  | — |  |  | 6,134 |
2028 |  | 2,550 |  |  | — |  |  | 2,550 |
Thereafter |  | 1,428 |  |  | — |  |  | 1,428 |
Total lease payments |  | $ | 36,714 |  |  | $ | — |  |  | $ | 36,714 |
Less: interest |  | 2,946 |  |  | — |  |  |
Present value of lease payments |  | $ | 33,768 |  |  | $ | — |  |  |
Operating Lease, Lease Income | For the three and nine months ended September 30, 2024 and 2023, the Company’s lease income consisted of the following components (in thousands):
|  | Three Months Ended September 30, 2024 |  | Three Months Ended September 30, 2023
Operating lease income |  |  |  |
Fixed lease income |  | $ | 580 |  |  | $ | 324 |
Variable lease income |  | — |  |  | — |
Total lease income 1 |  | $ | 580 |  |  | $ | 324 |
|  | Nine Months Ended September 30, 2024 |  | Nine Months Ended September 30, 2023
Operating lease income |  |  |  |
Fixed lease income |  | $ | 1,782 |  |  | $ | 503 |
Variable lease income |  | — |  |  | — |
Total lease income 1 |  | $ | 1,782 |  |  | $ | 503 |
————————— (1) As noted above, net revenue related to subleases was insignificant for all periods presented but such revenue is included in the tables above.
Lessor, Operating Lease, Payment to be Received, Maturity | The following table shows the Company’s future contractual receipts from noncancelable operating leases as of September 30, 2024 (in thousands):
|  | Operating Leases 2
2024 (remainder) |  | $ | 580 |
2025 |  | 2,062 |
2026 |  | 2,062 |
2027 |  | 1,949 |
2028 |  | 1,567 |
Thereafter |  | 99 |
Total contractual receipts |  | $ | 8,319 |
————————— (2) The future contractual receipts due under the Company’s full-service operating leases include amounts related to preventative maintenance, certain repairs as defined in the related agreements, and ad valorem taxes. Net revenue related to the Company’s subleases are also included in the table above.

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