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Note 6 - Leases

6 Months Ended

Jun. 30, 2024

6.	*Leases*:

The components of lease expense were as follows:

	*For the Three Months*				*For the Six Months*
	*Ended June 30,*				*Ended June 30,*
(in thousands)	*2024*		*2023*		*2024*		*2023*
Operating lease cost	$	2,152	$	2,114	$	4,549	$	4,255

Finance lease cost:
Amortization of right-of-use assets	$	308	$	260	$	592	$	492
Interest on lease liabilities		43		39		80		75
Total finance lease cost	$	351	$	299	$	672	$	567

Supplemental cash flow information related to leases was as follows:

	*For the Three Months*				*For the Six Months*
	*Ended June 30,*				*Ended June 30,*
(in thousands)	*2024*		*2023*		*2024*		*2023*
Cash paid for lease liabilities:
Operating cash flows from operating leases	$	2,122	$	2,083	$	4,509	$	4,188
Operating cash flows from finance leases		43		39		80		75
Financing cash flows from finance leases		314		252		603		472
Total cash paid for lease liabilities	$	2,479	$	2,374	$	5,192	$	4,735

Supplemental balance sheet information related to leases was as follows:

	*June 30,*			*December 31,*
(in thousands)	*2024*			*2023*
Operating Leases
Operating lease	$	53,899		$	56,117
Operating lease accumulated amortization		(19,602	)		(21,737	)
Operating lease right-of-use asset, net		34,297			34,380

Operating lease current liabilities		6,582			7,813
Operating lease liabilities		28,448			27,261
Total operating lease liabilities	$	35,030		$	35,074

Finance Leases
Finance lease		6,170			5,686
Finance lease accumulated depreciation		(3,196	)		(2,615	)
Finance lease, net		2,974			3,071

Finance lease current liabilities		1,059			1,087
Finance lease liabilities		2,028			2,106
Total finance lease liabilities	$	3,087		$	3,193

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

Weighted Average Discount Rate
Operating leases		3.51	%		4.07	%
Finance leases		5.45	%		5.06	%

Maturities of lease liabilities were as follows:

	Operating			Finance
(in thousands)	Leases			Leases
Year Ending December 31,
2024	$	4,247		$	644
2025		7,362			1,052
2026		6,418			752
2027		5,161			538
2028		3,970			360
Thereafter		18,856			45
Total future minimum lease payments	$	46,014		$	3,391
Less remaining imputed interest		(10,984	)		(304	)
Total	$	35,030		$	3,087