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LEASES | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
LEASES | LEASES We have operating and finance leases covering certain land locations and various office facilities and equipment in our two reportable business segments. Our leases have remaining lease terms of one year to six years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 90 days. In addition, we do not recognize right-of-use assets or lease liabilities for leases with terms shorter than twelve months. The components of lease expense were $4.2 million, $4.2 million and $5.0 million under operating leases for the years ended December 31, 2024, 2023 and 2022, respectively. The components of lease expense were $0.5 million, $0.2 million and $0.0 million under finance leases for the years ended December 31, 2024, 2023 and 2022, respectively. Included in the measurement of lease liabilities, we paid $4.6 million and $0.5 million in cash related to operating leases and finance leases during the year ended December 31, 2024, respectively. Right-of-use assets obtained in exchange for new operating and finance lease obligations during the year ended December 31, 2024 were $4.2 million. Supplemental balance sheet information related to leases were as follows (in thousands):
| December 31, 2024 |  | December 31, 2023 |  |
Operating leases |  |  |  |  |
Operating lease right-of-use assets | $ | 9,401 |  |  | $ | 12,286 |  |  |
Other current liabilities | $ | 3,061 |  |  | $ | 3,594 |  |  |
Operating lease liabilities | 6,655 |  |  | 9,264 |  |  |
Total operating lease liabilities | $ | 9,716 |  |  | $ | 12,858 |  |  |
Finance leases |  |  |  |  |
Other noncurrent assets | $ | 2,675 |  |  | $ | 760 |  |  |
Other current liabilities | $ | 580 |  |  | $ | 164 |  |  |
Other noncurrent liabilities | 2,155 |  |  | 613 |  |  |
Total finance lease liabilities | $ | 2,735 |  |  | $ | 777 |  |  |
Weighted average remaining lease term |  |  |  |  |
Operating leases | 3.4 years |  | 4.1 years |  |
Finance leases | 4.3 years |  | 4.3 years |  |
Weighted average discount rate |  |  |  |  |
Operating leases | 5.7 | % |  | 5.5 | % |  |
Finance leases | 6.8 | % |  | 6.6 | % |  |
Maturities of lease liabilities at December 31, 2024, were as follows (in thousands):
Year Ending December 31, | Operating Leases |  | Finance Leases |  | Total
2025 | $ | 3,617 |  |  | $ | 731 |  |  | $ | 4,348 |
2026 | 3,029 |  |  | 731 |  |  | 3,760 |
2027 | 2,613 |  |  | 726 |  |  | 3,339 |
2028 | 1,138 |  |  | 591 |  |  | 1,729 |
2029 | 278 |  |  | 285 |  |  | 563 |
Thereafter | 231 |  |  | — |  |  | 231 |
Total lease payments | 10,906 |  |  | 3,064 |  |  | 13,970 |
Less imputed interest | 1,190 |  |  | 329 |  |  | 1,519 |
Total | $ | 9,716 |  |  | $ | 2,735 |  |  | $ | 12,451 |
LEASES | LEASES We have operating and finance leases covering certain land locations and various office facilities and equipment in our two reportable business segments. Our leases have remaining lease terms of one year to six years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 90 days. In addition, we do not recognize right-of-use assets or lease liabilities for leases with terms shorter than twelve months. The components of lease expense were $4.2 million, $4.2 million and $5.0 million under operating leases for the years ended December 31, 2024, 2023 and 2022, respectively. The components of lease expense were $0.5 million, $0.2 million and $0.0 million under finance leases for the years ended December 31, 2024, 2023 and 2022, respectively. Included in the measurement of lease liabilities, we paid $4.6 million and $0.5 million in cash related to operating leases and finance leases during the year ended December 31, 2024, respectively. Right-of-use assets obtained in exchange for new operating and finance lease obligations during the year ended December 31, 2024 were $4.2 million. Supplemental balance sheet information related to leases were as follows (in thousands):
| December 31, 2024 |  | December 31, 2023 |  |
Operating leases |  |  |  |  |
Operating lease right-of-use assets | $ | 9,401 |  |  | $ | 12,286 |  |  |
Other current liabilities | $ | 3,061 |  |  | $ | 3,594 |  |  |
Operating lease liabilities | 6,655 |  |  | 9,264 |  |  |
Total operating lease liabilities | $ | 9,716 |  |  | $ | 12,858 |  |  |
Finance leases |  |  |  |  |
Other noncurrent assets | $ | 2,675 |  |  | $ | 760 |  |  |
Other current liabilities | $ | 580 |  |  | $ | 164 |  |  |
Other noncurrent liabilities | 2,155 |  |  | 613 |  |  |
Total finance lease liabilities | $ | 2,735 |  |  | $ | 777 |  |  |
Weighted average remaining lease term |  |  |  |  |
Operating leases | 3.4 years |  | 4.1 years |  |
Finance leases | 4.3 years |  | 4.3 years |  |
Weighted average discount rate |  |  |  |  |
Operating leases | 5.7 | % |  | 5.5 | % |  |
Finance leases | 6.8 | % |  | 6.6 | % |  |
Maturities of lease liabilities at December 31, 2024, were as follows (in thousands):
Year Ending December 31, | Operating Leases |  | Finance Leases |  | Total
2025 | $ | 3,617 |  |  | $ | 731 |  |  | $ | 4,348 |
2026 | 3,029 |  |  | 731 |  |  | 3,760 |
2027 | 2,613 |  |  | 726 |  |  | 3,339 |
2028 | 1,138 |  |  | 591 |  |  | 1,729 |
2029 | 278 |  |  | 285 |  |  | 563 |
Thereafter | 231 |  |  | — |  |  | 231 |
Total lease payments | 10,906 |  |  | 3,064 |  |  | 13,970 |
Less imputed interest | 1,190 |  |  | 329 |  |  | 1,519 |
Total | $ | 9,716 |  |  | $ | 2,735 |  |  | $ | 12,451 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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