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LEASES | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
LEASES | LEASES The Company has operating leases for corporate and sales offices and equipment. The leases have remaining lease terms of less than one year to nine years, some of which include options to extend for up to five years, and some of which include options to terminate the leases within one year. However, the Company in general is not reasonably certain to exercise options to renew or terminate, and therefore renewal and termination options are not considered in the lease term or the ROU asset and lease liability balances. The Company’s lease population includes purchase options on equipment leases that are included in the lease payments when reasonably certain to be exercised. The Company’s lease population does not include any residual value guarantees. The Company’s lease population does not contain any material restrictive covenants. The Company has leases with variable payments, most commonly in the form of Common Area Maintenance (“CAM”) and tax charges which are based on actual costs incurred. These variable payments were excluded from the ROU asset and lease liability balances since they are not fixed or in-substance fixed payments. Variable payments are expensed as incurred. The components of lease expense were as follows:
|  |  | Year Ended December 31,
|  |  | 2024 |  | 2023 |  | 2022
Operating lease cost |  |  | $ | 30,890 |  |  | $ | 33,721 |  |  | $ | 33,248 |
Short-term lease cost |  |  | 802 |  |  | 1,188 |  |  | 1,064 |
Variable lease cost |  |  | 4,143 |  |  | 4,234 |  |  | 4,144 |
Less: Sublease income |  |  | (148) |  |  | (688) |  |  | (579) |
Total lease cost |  |  | $ | 35,687 |  |  | $ | 38,455 |  |  | $ | 37,877 |
Supplemental cash flow information related to leases was as follows:
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |
Operating cash flows from operating leases | $ | 32,596 |  |  | $ | 34,106 |  |  | $ | 36,956 |
ROU assets obtained in exchange for lease obligations: |  |  |  |  |
Operating leases | 13,878 |  |  | 12,768 |  |  | 14,856 |
Supplemental consolidated balance sheet information related to leases was as follows:
|  | December 31, |  | December 31,
|  | 2024 |  | 2023
Weighted average remaining lease term in years: |  |  |  |
Operating leases |  | 5.73 |  | 6.38
Weighted average discount rate: |  |  |  |
Operating leases |  | 8.58 | % |  | 8.63 | %
As of December 31, 2024, maturities of lease liabilities were as follows:
| Operating Leases |
Year Ending December 31: |  |
2025 | $ | 31,636 |  |
2026 | 29,061 |  |
2027 | 25,862 |  |
2028 | 22,505 |  |
2029 | 18,152 |  |
Thereafter | 31,252 |  |
Total lease payments | 158,468 |  |
Less imputed interest | (34,861) |  |
Total | $ | 123,607 |  |
As of December 31, 2024, the Company ha d a $460 undiscounted lease payment relating to a real estate lease that has not yet commenced. The operating lease will commence in the first half of 2025 with a lease term of approxi mately 5.0 years. The Company’s rental expense for the years ended December 31, 2024, 2023 and 2022 was $30,890, $33,721 and $33,248, respectively. Rent expense for the year ended December 31, 2024 consisted of $20,553 of amortization and $10,337 of lease expense for interest accretion on operating lease liabilities. Rent expense for the year ended December 31, 2023 consisted of $22,369 of amortization and $11,352 of lease expense for interest accretion on operating lease liabilities. Rent expense for the year ended December 31, 2022 consisted of $20,621 of amortization and impairment of ROU assets and $12,627 of lease expense for interest accretion on operating lease liabilities.

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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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