Leases (Tables)

12 Months Ended

Dec. 31, 2023

The Company’s Consolidated Balance Sheets include the following related to operating leases as of December 31, 2023 and 2022 (in thousands):


Leases	Classification	2023		2022
Assets:
ROU assets	Other Assets	$	37,512	$	36,946

Liabilities:
ROU liability - current	Accrued expenses and other current liabilities	$	10,686	$	10,376
ROU liability - long-term	Other long-term liabilities	28,219		28,066
Total ROU liabilities		$	38,905	$	38,442

The components of lease costs for the year ended December 31, 2023 and 2022 are as follows (in thousands):


	Classification	2023		2022
Finance lease expense:
Amortization of ROU assets	Depreciation and amortization	$	5,152	$	4,068
Interest on lease liabilities	Interest expense	917		624
Operating lease expense	Cost of revenue; Selling, general & administrative expenses	13,234		12,783
Short-term lease expense	Cost of revenue; Selling, general & administrative expenses	179		77
Variable lease expense	Cost of revenue; Selling, general & administrative expenses	2,034		2,141
Total		$	21,516	$	19,693

Additional information related to leases as of December 31, 2023 and 2022 is as follows:


	2023			2022
Cash paid for amounts included in the measurement of lease liabilities for finance and operating leases (in thousands):
Finance - financing cash flows	$	5,047		$	4,140
Finance - operating cash flows	917			624
Operating - operating cash flows	13,208			12,502
ROU assets obtained in the exchange for lease liabilities:
Finance leases	$	7,125		$	5,076
Operating leases	10,598			6,067
Weighted-average remaining lease term (in years):
Finance leases	4.7			5.1
Operating leases	4.4			4.7
Weighted-average discount rate:
Finance leases	6.5		%	5.5		%
Operating leases	6.1		%	5.6		%

Maturities of lease liabilities as of December 31, 2023 is as follows (in thousands):

Maturities of lease liabilities as of December 31, 2023 is as follows (in thousands):