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Note 6 - Leases

9 Months Ended

Sep. 30, 2024

6.	*Leases*:

The components of lease expense were as follows:

	*For the Three Months*				*For the Nine Months*
	*Ended September 30,*				*Ended September 30,*
(in thousands)	*2024*		*2023*		*2024*		*2023*
Operating lease cost	$	2,111	$	2,099	$	6,660	$	6,354

Finance lease cost:
Amortization of right-of-use assets	$	331	$	264	$	922	$	756
Interest on lease liabilities		66		37		147		112
Total finance lease cost	$	397	$	301	$	1,069	$	868

Supplemental cash flow information related to leases was as follows:

	*For the Three Months*				*For the Nine Months*
	*Ended September 30,*				*Ended September 30,*
(in thousands)	*2024*		*2023*		*2024*		*2023*
Cash paid for lease liabilities:
Operating cash flows from operating leases	$	2,031	$	2,079	$	6,540	$	6,267
Operating cash flows from finance leases		66		37		147		112
Financing cash flows from finance leases		327		265		930		737
Total cash paid for lease liabilities	$	2,424	$	2,381	$	7,617	$	7,116

Supplemental balance sheet information related to leases was as follows:

	*September 30,*			*December 31,*
(in thousands)	*2024*			*2023*
Operating Leases
Operating lease	$	52,656		$	56,117
Operating lease accumulated amortization		(16,984	)		(21,737	)
Operating lease right-of-use asset, net		35,672			34,380

Operating lease current liabilities		5,671			7,813
Operating lease liabilities		30,796			27,261
Total operating lease liabilities	$	36,467		$	35,074

Finance Leases
Finance lease		8,697			5,686
Finance lease accumulated depreciation		(3,356	)		(2,615	)
Finance lease, net		5,341			3,071

Finance lease current liabilities		1,426			1,087
Finance lease liabilities		4,086			2,106
Total finance lease liabilities	$	5,512		$	3,193

Weighted Average Remaining Lease Term
Operating leases (in years)		9			6
Finance leases (in years)		5			4

Weighted Average Discount Rate
Operating leases		5.68	%		4.07	%
Finance leases		6.22	%		5.06	%

Maturities of lease liabilities were as follows:

	Operating			Finance
(in thousands)	Leases			Leases
Year Ending December 31,
2024	$	2,013		$	464
2025		7,331			1,621
2026		6,831			1,267
2027		5,576			1,061
2028		4,386			875
Thereafter		23,552			1,107
Total future minimum lease payments	$	49,689		$	6,395
Less remaining imputed interest		(13,222	)		(883	)
Total	$	36,467		$	5,512