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LEASES (Tables)

3 Months Ended

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 Leases1
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.

X

- 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

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+ 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

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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

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- Definition

Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-12

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- Definition

Tabular disclosure of components of income from operating lease.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-5

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 270
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482964/270-10-50-6A

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