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LEASES (Tables) | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
Schedule of Lease, Cost | The following table reflects the balance sheet presentation of our lease assets and liabilities:
Leases |  | Classification |  | June 30, 2023 |  | December 31, 2022
Assets: |  |  |  |  |  |
Operating |  | Right-of-use assets |  | $ | 170,733 |  |  | $ | 161,822 |
Total right-of-use assets |  |  |  | $ | 170,733 |  |  | $ | 161,822 |
Liabilities: |  |  |  |  |  |
Current: |  |  |  |  |  |
Operating |  | Accounts payable and other current liabilities |  | $ | 24,591 |  |  | $ | 24,075 |
Non-Current: |  |  |  |  |  |
Operating |  | Long-term portion of operating lease liabilities |  | 138,282 |  |  | 126,695 |
Total lease liabilities |  |  |  | $ | 162,873 |  |  | $ | 150,770 |
The weighted-average remaining lease term and discount rate for the Company's operating leases are as follows:
| June 30, 2023 | December 31, 2022
Weighted average lease term-operating leases | 14.0 years | 14.6 years
Weighted average discount rate-operating leases | 14.0% | 14.0%
The following table provides information related to the lease costs of finance and operating leases for the three and six months ended June 30, 2023 and 2022:
Lease Expense |  | Income Statement Classification |  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  |  |  | 2023 |  | 2022 |  | 2023 |  | 2022
Operating |  | Selling, general and administrative expenses |  | $ | 8,525 |  |  | $ | 7,565 |  |  | $ | 16,674 |  |  | $ | 14,428 |
Finance: |  |  |  |  |  |  |  |  |  |
Amortization of ROU assets |  | Depreciation and amortization expense |  | — |  |  | — |  |  | — |  |  | 41 |
Interest on lease liabilities |  | Interest expense |  | — |  |  | — |  |  | — |  |  | 124 |
Total lease costs |  |  |  | $ | 8,525 |  |  | $ | 7,565 |  |  | $ | 16,674 |  |  | $ | 14,593 |
In connection with the acquisition of the RideNow companies on August 31, 2021 (the "RideNow Transaction"), the Company entered into related party leases for 24 properties. The following table provides information related to the portion of lease assets and liabilities which are attributable to related party leases at June 30, 2023:
Leases |  | Balance Sheet Classification |  | June 30, 2023 |  | December 31, 2022
Assets: |  |  |  |  |  |
Right of use assets – related party |  |  |  | $ | 104,376 |  |  | $ | 105,264 |
All other right-of-use assets |  |  |  | 66,357 |  |  | 56,558 |
Total |  | Right-of-use assets |  | $ | 170,733 |  |  | $ | 161,822 |
Liabilities: |  |  |  |  |  |
Current: |  |  |  |  |  |
Current portion of lease liabilities – related party |  |  |  | $ | 13,997 |  |  | $ | 14,492 |
Current portion of lease liabilities – all other leases |  |  |  | 10,594 |  |  | 9,583 |
Total |  | Accounts payable and other current liabilities |  | $ | 24,591 |  |  | $ | 24,075 |
Non-Current: |  |  |  |  |  |
Long-term portion of lease liabilities – related party |  |  |  | 96,538 |  |  | 93,713 |
Long-term portion of lease liabilities – all other leases |  |  |  | 41,744 |  |  | 32,982 |
Total |  | Operating lease liabilities |  | $ | 138,282 |  |  | $ | 126,695 |
Total lease liabilities |  |  |  | $ | 162,873 |  |  | $ | 150,770 |
Supplemental cash flow information related to operating leases for the six months ended June 30, 2023 and 2022 was as follows:
|  |  | Six Months Ended June 30,
|  |  | 2023 |  | 2022
Cash payments for operating leases |  |  | $ | 14,244 |  |  | $ | 12,240 |
ROU assets obtained in exchange for new operating lease liabilities |  |  | $ | 14,383 |  |  | $ | 15,103 |
Schedule of Lessee, Operating Lease, Liability, Maturity | The following table summarizes the future minimum payments for operating leases at June 30, 2023 due in each year ending December 31:
Year | Operating Leases
2023 | $ | 15,394 |
2024 | 30,314 |
2025 | 28,601 |
2026 | 26,927 |
2027 | 26,131 |
Thereafter | 282,415 |
Total lease payments | 409,782 |
Less: imputed interest | (246,909) |
Present value of operating lease liabilities | $ | 162,873 |

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- Definition 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 + Details
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- Definition 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 + Details
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