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Note 7 - Leases

3 Months Ended

Mar. 31, 2023

7.	*Leases*:

The components of lease expense were as follows:

	For the Three Months Ended March 31,
(in thousands)	2023		2022
Operating lease cost	$	2,140	$	1,784

Finance lease cost:
Amortization of right-of-use assets	$	229	$	185
Interest on lease liabilities		35		14
Total finance lease cost	$	264	$	199

Supplemental cash flow information related to leases was as follows:

	For the Three Months Ended March 31,
(in thousands)	2023		2022
Cash paid for lease liabilities:
Operating cash flows from operating leases	$	2,105	$	1,751
Operating cash flows from finance leases		35		14
Financing cash flows from finance leases		220		182
Total cash paid for lease liabilities	$	2,360	$	1,947

Supplemental balance sheet information related to leases was as follows:

	March 31,			December 31,
(in thousands)	2023			2022
Operating Leases
Operating lease	$	53,709		$	45,987
Operating lease accumulated amortization		(18,381	)		(17,763	)
Operating lease right-of-use asset, net		35,328			28,224

Operating lease current liabilities		6,921			6,098
Operating lease liabilities		29,013			22,655
Total operating lease liabilities	$	35,934		$	28,753

Finance Leases
Finance lease	$	4,957		$	3,144
Finance lease accumulated depreciation		(1,785	)		(1,585	)
Finance lease, net		3,172			1,559

Finance lease current liabilities		922			594
Finance lease liabilities		2,334			1,025
Total finance lease liabilities	$	3,256		$	1,619

Weighted Average Remaining Lease Term
Operating leases (in years)		7			6
Finance leases (in years)		4			3

Weighted Average Discount Rate
Operating leases		3.91	%		3.41	%
Finance leases		4.80	%		3.56	%

Finance lease right-of-use assets are included within “Property and equipment, at cost” and “Accumulated depreciation” on the Consolidated Balance Sheets. The current portion of finance lease liabilities are included within “Other accrued liabilities” and the long-term portion of finance lease liabilities are included within “Other long-term liabilities” on the Consolidated Balance Sheets, respectively.

Maturities of lease liabilities were as follows:

	Operating			Finance
(in thousands)	Leases			Leases
Year Ending December 31,
2023	$	6,176		$	802
2024		7,657			977
2025		6,435			769
2026		5,517			486
2027		4,388			315
Thereafter		10,947			244
Total future minimum lease payments	$	41,120		$	3,593
Less remaining imputed interest		(5,186	)		(337	)
Total	$	35,934		$	3,256