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v3.25.1

LEASES (Tables) | 3 Months Ended
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Mar. 31, 2025
Leases [Abstract] |
Assets and Liabilities, Lessee | Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands):
|  | Classification |  | March 31, 2025 |  | December 31, 2024
Right-of-Use Assets |  |  |  |  |  |
Operating |  | Other assets |  | $ | 36,063 |  |  | $ | 36,423 |
Total leased ROU assets |  |  |  | $ | 36,063 |  |  | $ | 36,423 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Other accrued liabilities |  | $ | 12,345 |  |  | $ | 11,782 |
Noncurrent |  |  |  |  |  |
Operating |  | Other non-current liabilities |  | 23,718 |  |  | 24,641 |
Total lease liabilities |  |  |  | $ | 36,063 |  |  | $ | 36,423 |
Lease, Cost | Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands):
|  | Classification |  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
Operating lease cost |  | Cost of sales, selling expenses and general and administrative expense |  | $ | 3,588 |  |  | $ | 2,760 |
Net lease cost |  |  |  | $ | 3,588 |  |  | $ | 2,760 |
Remaining lease term and discount rates are as follows:
|  | March 31, 2025 |  | December 31, 2024
Weighted average remaining lease term (years) |  |  |  |
Operating leases |  | 3.4 |  | 3.5
Weighted average discount rate |  |  |  |
Operating leases |  | 5.51 | % |  | 5.38 | %
Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands):
|  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 3,554 |  |  | $ | 2,736 |
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 March 31, 2025 is as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2025 (remainder) |  | $ | 10,449 |  |  | $ | — |  |  | $ | 10,449 |
2026 |  | 12,939 |  |  | — |  |  | 12,939 |
2027 |  | 7,994 |  |  | — |  |  | 7,994 |
2028 |  | 4,196 |  |  | — |  |  | 4,196 |
2029 |  | 2,666 |  |  | — |  |  | 2,666 |
Thereafter |  | 1,426 |  |  | — |  |  | 1,426 |
Total lease payments |  | $ | 39,669 |  |  | $ | — |  |  | $ | 39,669 |
Less: interest |  | 3,606 |  |  | — |  |  |
Present value of lease payments |  | $ | 36,063 |  |  | $ | — |  |  |
Finance Lease, Liability, Maturity | Maturity of the Company’s lease liabilities as of March 31, 2025 is as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2025 (remainder) |  | $ | 10,449 |  |  | $ | — |  |  | $ | 10,449 |
2026 |  | 12,939 |  |  | — |  |  | 12,939 |
2027 |  | 7,994 |  |  | — |  |  | 7,994 |
2028 |  | 4,196 |  |  | — |  |  | 4,196 |
2029 |  | 2,666 |  |  | — |  |  | 2,666 |
Thereafter |  | 1,426 |  |  | — |  |  | 1,426 |
Total lease payments |  | $ | 39,669 |  |  | $ | — |  |  | $ | 39,669 |
Less: interest |  | 3,606 |  |  | — |  |  |
Present value of lease payments |  | $ | 36,063 |  |  | $ | — |  |  |
Operating Lease, Lease Income | For the three months ended March 31, 2025 and 2024, the Company’s lease income consisted of the following components (in thousands):
|  | Three Months Ended March 31, 2025 |  | Three Months Ended March 31, 2024
Operating lease income |  |  |  |
Fixed lease income |  | $ | 649 |  |  | $ | 643 |
Variable lease income |  | — |  |  | — |
Total lease income |  | $ | 649 |  |  | $ | 643 |
Lessor, Operating Lease, Payment to be Received, Maturity | The following table shows the Company’s future contractual receipts from noncancelable operating leases as of March 31, 2025 (in thousands):
|  | Operating Leases 1
2025 (remainder) |  | $ | 1,545 |
2026 |  | 2,061 |
2027 |  | 1,949 |
2028 |  | 1,157 |
2029 |  | — |
Thereafter |  | — |
Total contractual receipts |  | $ | 6,712 |
————————— (1) 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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- 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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