XML 53 R36.htm IDEA: XBRL DOCUMENT

Leases (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Lease Assets and Liabilities

The following table summarizes the supplemental consolidated balance sheet information related to leases as of December 31, 2023 and 2022 (in thousands):


		December 31,
	Classification	2023		2022
Assets
Operating lease assets	Operating lease assets	$	55,399	$	57,270
Finance lease assets	Property and equipment, net	3,063		2,500
Total lease assets		$	58,462	$	59,770

Liabilities
Current
Operating	Accrued liabilities	$	9,200	$	8,776
Finance	Current portion of long-term debt	1,186		782
Noncurrent
Operating	Operating lease liabilities	61,450		64,626
Finance	Long-term debt, net of current portion	1,678		1,231
Total lease liabilities		$	73,514	$	75,415

Schedule of The Components of Lease Expenses

The following table summarizes the components of lease expenses (in thousands):


		Year ended December 31,
Lease Cost	Classification	2023		2022
Operating lease cost	Cost of sales and Selling, general and administrative expenses	$	14,641	$	11,591
Finance lease cost
Amortization of leased assets	Selling, general and administrative expenses	1,265		887
Interest on lease liabilities	Interest expense	180		77
Sublease income	Cost of sales and Selling, general and administrative expenses	(1,238)		(2,437)
Net lease cost		$	14,848	$	10,118

Schedule of Operating Lease Liability Maturity

The maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
2024	$	13,312	$	1,347	$	14,659
2025	12,674		1,284		13,958
2026	11,650		415		12,065
2027	11,098		93		11,191
2028	9,297		—		9,297
Thereafter	32,977		—		32,977
Total lease payments	91,008		3,139		94,147
Less: present value discount	(20,358)		(275)		(20,633)
Present value of lease liabilities	$	70,650	$	2,864	$	73,514

Schedule of Finance Lease Liability Maturity

The maturities of lease liabilities as of December 31, 2023 are as follows (in thousands):


	Operating Leases		Finance Leases		Total
2024	$	13,312	$	1,347	$	14,659
2025	12,674		1,284		13,958
2026	11,650		415		12,065
2027	11,098		93		11,191
2028	9,297		—		9,297
Thereafter	32,977		—		32,977
Total lease payments	91,008		3,139		94,147
Less: present value discount	(20,358)		(275)		(20,633)
Present value of lease liabilities	$	70,650	$	2,864	$	73,514

Schedule of The Weighted-average Remaining Term And Weighted Average Discount Rates Related To Leases

The following table summarizes the weighted-average remaining term and weighted average discount rates related to leases as of December 31, 2023 and 2022:


	Year ended December 31,
	2023		2022
Weighted-average remaining lease term (years)
Operating leases	7.9		8.8
Financing leases	2.3		2.8
Weighted-average discount rate
Operating leases	6.60	%	6.58	%
Financing leases	6.89	%	6.43	%

Schedule of The Supplemental Cash Flow Information Related To Leases

The following table summarizes the supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 (in thousands):


	Year ended December 31,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	14,027	$	11,518
Operating cash flows from finance leases	180		78
Financing cash flows from finance leases	1,247		1,184