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LEASES

12 Months Ended

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

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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

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