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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | 8. LEASES The Company’s leases are considered operating leases and primarily consist of real estate such as office space, broadcasting towers, land and land easements. The operating leases are reflected within the consolidated balance sheet as Operating leases right of use asset with the related liability presented as Operating lease liabilities and Long-term operating lease liabilities. Lease expense is recognized on a straight-line basis over the lease term. Generally, lease terms include options to renew or extend the lease. Unless the renewal option is considered reasonably certain, the exercise of any such options has been excluded from the calculation of lease liabilities. The following table summarizes the expected future payments related to lease liabilities as of December 31, 2024:
(in thousands) |  |  |
2025 |  | $ |  | 10,607 |
2026 |  |  |  | 9,159 |
2027 |  |  |  | 7,315 |
2028 |  |  |  | 6,566 |
2029 |  |  |  | 6,068 |
Thereafter |  |  |  | 24,331 |
Total minimum payments |  | $ |  | 64,046 |
Less amounts representing interest |  |  |  | (14,201 | )
Present value of minimum lease payments |  |  |  | 49,845 |
Less current operating lease liabilities |  |  |  | (7,744 | )
Long-term operating lease liabilities |  | $ |  | 42,101 |
The Company’s existing leases have remaining terms of less than one year up to 26 years. The weighted avera ge remaining lease term and the weighted average discount rate used to calculate the Company’s lease liabilities as of December 31, 2024 were 8.4 years and 6.3%, respectively. The wei ghted average remaining lease term and the weighted average discount rate used to calculate the Company’s lease liabilities as of December 31, 2023 were 9.0 years and 6.2%, respectively. The following table summarizes lease payments and supplemental non-cash disclosures:
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Cash paid for amounts included in lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 10,504 |  |  | $ | 8,483 |  |  | $ | 9,680 |
Non-cash additions to operating lease assets |  | $ | 5,091 |  |  | $ | 6,762 |  |  | $ | 31,125 |
The following table summarizes the components of lease expense:
|  | Year Ended December 31, |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |
Operating lease cost |  | $ | 9,758 |  |  | $ | 9,095 |  |  | $ | 8,995 |
Variable lease cost |  |  | 912 |  |  |  | 1,295 |  |  |  | 1,116 |
Short-term lease cost |  |  | 1,081 |  |  |  | 2,810 |  |  |  | 2,158 |
Total lease cost |  | $ | 11,751 |  |  | $ | 13,200 |  |  | $ | 12,269 |
For the year ended December 31, 2024, lease cost of $5.7 million, $5.0 million and $1.1 million, were recorded to direct operating expenses, selling, general and administrative expenses and corporate expenses, respectivel y. For the year ended December 31, 2023, lease cost of $5.8 million, $6.2 million and $1.2 million, were recorded to direct operating expenses, selling, general and administrative expenses and corporate expenses, respectivel y. For the year ended December 31, 2022, lease cost of $6.0 million, $5.4 million and $0.9 million, were recorded to direct operating expenses, selling, general and administrative expenses and corporate expenses, respectivel y. See Note 20 for additional information.

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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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