Leases (Tables)

12 Months Ended

Dec. 31, 2024

The Company’s Consolidated Balance Sheets include the following related to operating leases as of December 31, 2024 and 2023 (in thousands):


Leases	Classification	2024		2023
Assets:
ROU assets	Other Assets	$	40,401	$	37,512

Liabilities:
ROU liability - current	Accrued expenses and other current liabilities	$	11,375	$	10,686
ROU liability - long-term	Other long-term liabilities	30,279		28,219
Total ROU liabilities		$	41,654	$	38,905

The components of lease costs for the year ended December 31, 2024 and 2023 are as follows (in thousands):


	Classification	2024		2023
Finance lease expense:
Amortization of ROU assets	Depreciation and amortization	$	5,491	$	5,152
Interest on lease liabilities	Interest expense	1,062		917
Operating lease expense	Cost of revenue; Selling, general & administrative expenses	14,213		13,234
Short-term lease expense	Cost of revenue; Selling, general & administrative expenses	56		179
Variable lease expense	Cost of revenue; Selling, general & administrative expenses	1,683		2,034
Total		$	22,505	$	21,516

Additional information related to leases as of December 31, 2024 and 2023 is as follows:


	2024			2023
Cash paid for amounts included in the measurement of lease liabilities for finance and operating leases (in thousands):
Finance - financing cash flows	$	5,495		$	5,047
Finance - operating cash flows	1,062			917
Operating - operating cash flows	14,243			13,208
ROU assets obtained in the exchange for lease liabilities:
Finance leases	$	9,899		$	7,125
Operating leases	16,254			10,598
Weighted-average remaining lease term (in years):
Finance leases	5.0			4.7
Operating leases	4.7			4.4
Weighted-average discount rate:
Finance leases	6.5		%	6.5		%
Operating leases	6.1		%	6.1		%

Maturities of lease liabilities as of December 31, 2024 is as follows (in thousands):

Maturities of lease liabilities as of December 31, 2024 is as follows (in thousands):