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LEASES (Tables)

6 Months Ended

Jun. 30, 2024

LEASES

Summary of components of lease expense

The components of lease expense were as follows (in thousands):

​	​	​	​	​	​	​	​	​	​	​	​
​	Three months ended					​	Six months ended
​	June 30, 2024			June 30, 2023		​	June 30, 2024			June 30, 2023
Operating lease cost:	​	​	​	​	​	​	​	​	​	​	​
Operating lease cost	$	5,626	​	$	5,763	​	$	11,105	​	$	11,744
Short-term lease cost	​	757	​	​	625	​	​	1,448	​	​	1,303
Variable lease cost	​	1,695	​	​	1,383	​	​	3,124	​	​	2,045
Total operating lease cost	$	8,078	​	$	7,771	​	$	15,677	​	$	15,092
​	​	​	​	​	​	​	​	​	​	​	​
Finance lease cost:	​	​	​	​	​	​	​	​	​	​	​
Amortization of right-of-use asset	$	976	​	$	804	​	$	1,588	​	$	1,504
Variable costs	​	169	​	​	227	​	​	368	​	​	430
Interest costs	​	100	​	​	78	​	​	200	​	​	162
Total finance lease cost	$	1,245	​	$	1,109	​	$	2,156	​	$	2,096

Summary of weighted-average remaining lease term and discount rate

​

​	​	​	​	​	​
​	June 30, 2024		​	December 31, 2023
Weighted-average remaining lease term	​	​	​	​	​
Operating leases	​	12.7 years	​	​	13.3 years
Financing leases	​	5.0 years	​	​	9.2 years
​	​	​	​	​	​
Weighted-average discount rate	​	​	​	​	​
Operating leases	​	6.7%	​	​	6.3%
Financing leases	​	7.2%	​	​	6.6%

Summary of maturities of operating lease liabilities

Maturities of lease liabilities as of June 30, 2024 were as follows (in thousands):

​

​	​	​	​	​	​
​	Operating Leases		​	Financing Leases
2024 (excluding the six months ended June 30, 2024)	$	9,353	​	$	1,077
2025	​	17,531	​	​	1,529
2026	​	13,288	​	​	746
2027	​	10,437	​	​	704
2028	​	8,263	​	​	551
Thereafter	​	83,250	​	​	2,145
Total lease payments	​	142,122	​	​	6,752
Less imputed interest	​	(56,683)	​	​	(1,525)
Total	$	85,439	​	$	5,227

​

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

​

​	​	​	​	​	​
​	Operating Leases		​	Financing Leases
2024	$	18,048	​	$	2,030
2025	​	16,022	​	​	1,488
2026	​	11,755	​	​	601
2027	​	9,327	​	​	534
2028	​	7,807	​	​	505
Thereafter	​	80,637	​	​	2,145
Total lease payments	​	143,596	​	​	7,303
Less imputed interest	​	(57,133)	​	​	(1,662)
Total	$	86,463	​	$	5,641

​

Summary of maturities of finance lease liabilities

​

​	​	​	​	​	​
​	Operating Leases		​	Financing Leases
2024 (excluding the six months ended June 30, 2024)	$	9,353	​	$	1,077
2025	​	17,531	​	​	1,529
2026	​	13,288	​	​	746
2027	​	10,437	​	​	704
2028	​	8,263	​	​	551
Thereafter	​	83,250	​	​	2,145
Total lease payments	​	142,122	​	​	6,752
Less imputed interest	​	(56,683)	​	​	(1,525)
Total	$	85,439	​	$	5,227

​

​	​	​	​	​	​
​	Operating Leases		​	Financing Leases
2024	$	18,048	​	$	2,030
2025	​	16,022	​	​	1,488
2026	​	11,755	​	​	601
2027	​	9,327	​	​	534
2028	​	7,807	​	​	505
Thereafter	​	80,637	​	​	2,145
Total lease payments	​	143,596	​	​	7,303
Less imputed interest	​	(57,133)	​	​	(1,662)
Total	$	86,463	​	$	5,641

Schedule of maturities of future undiscounted lease payments

The following table presents the maturities of future undiscounted lease payments for the periods indicated (in thousands):

​

​	​	​
2024 (excluding the six months ended June 30, 2024)	$	3,669
2025	​	7,062
2026	​	6,730
2027	​	5,538
2028	​	5,157
Thereafter	​	13,262
Total future lease payments	$	41,418

​

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- Definition

The tabular disclosure of weighted-average remaining lease term and discount rate.

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-4

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478964/842-20-50-6

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Tabular disclosure of maturity of undiscounted cash flows to be received by lessor on annual basis for operating lease.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 842
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479773/842-30-50-12

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