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Leases

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Leases

Leases

Lessee

The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheets were as follows:

						Balance Sheet Location						September 30, 2023						December 31, 2022
Right-of-use assets
Operating						Operating right-of-use assets						$	24,448					$	26,075
Financing						Property, plant and equipment, net						766						699
Total right-of use assets												$	25,214					$	26,774
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	26,117					$	28,552
Financing						Long-term debt, current and long-term portions						770						820
Total lease liabilities												$	26,887					$	29,372

Operating lease costs are recorded as a single expense on the statement of operations and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated statement of operations for the three and nine months ended September 30, 2023 and 2022 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Finance lease cost
Amortization of right-of-use assets			$	89					$	30					$	232					$	96
Interest on lease liabilities			21						5						55						16
Operating lease cost			3,692						3,174						10,305						9,054
Short-term lease cost			9						101						27						547
Total lease cost			$	3,811					$	3,310					$	10,619					$	9,713

Other information related to the Company’s leasing activity for the nine months ended September 30, 2023 and 2022 is as follows:

						Nine Months Ended September 30,
						2023						2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	55					$	16
Operating cash flows used for operating leases						$	11,112					$	9,810
Financing cash flows used for finance leases						$	323					$	88
Right-of-use assets obtained in exchange for new operating lease liabilities						$	7,805					$	6,301
Weighted average remaining lease term - finance leases						3.4 years						1.1 years
Weighted average discount rate - finance leases						9.63		%				6.87		%
Weighted average remaining lease term - operating leases						2.7 years						3.0 years
Weighted average discount rate - operating leases						6.32		%				5.81		%

Maturities of the Company’s lease liabilities as of September 30, 2023 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2023						$	2,954					$	82					$	3,036
2024						12,074						257						12,331
2025						7,235						257						7,492
2026						3,912						246						4,158
2027						1,663						59						1,722
Thereafter						626						7						633
Total cash lease payments						28,464						908						29,372
Less: amounts representing interest						(2,347)						(138)						(2,485)
Total lease liabilities						$	26,117					$	770					$	26,887

Leases

Leases

Lessee

The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheets were as follows:

						Balance Sheet Location						September 30, 2023						December 31, 2022
Right-of-use assets
Operating						Operating right-of-use assets						$	24,448					$	26,075
Financing						Property, plant and equipment, net						766						699
Total right-of use assets												$	25,214					$	26,774
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	26,117					$	28,552
Financing						Long-term debt, current and long-term portions						770						820
Total lease liabilities												$	26,887					$	29,372

Operating lease costs are recorded as a single expense on the statement of operations and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated statement of operations for the three and nine months ended September 30, 2023 and 2022 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2023						2022						2023						2022
Finance lease cost
Amortization of right-of-use assets			$	89					$	30					$	232					$	96
Interest on lease liabilities			21						5						55						16
Operating lease cost			3,692						3,174						10,305						9,054
Short-term lease cost			9						101						27						547
Total lease cost			$	3,811					$	3,310					$	10,619					$	9,713

Other information related to the Company’s leasing activity for the nine months ended September 30, 2023 and 2022 is as follows:

						Nine Months Ended September 30,
						2023						2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	55					$	16
Operating cash flows used for operating leases						$	11,112					$	9,810
Financing cash flows used for finance leases						$	323					$	88
Right-of-use assets obtained in exchange for new operating lease liabilities						$	7,805					$	6,301
Weighted average remaining lease term - finance leases						3.4 years						1.1 years
Weighted average discount rate - finance leases						9.63		%				6.87		%
Weighted average remaining lease term - operating leases						2.7 years						3.0 years
Weighted average discount rate - operating leases						6.32		%				5.81		%

Maturities of the Company’s lease liabilities as of September 30, 2023 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2023						$	2,954					$	82					$	3,036
2024						12,074						257						12,331
2025						7,235						257						7,492
2026						3,912						246						4,158
2027						1,663						59						1,722
Thereafter						626						7						633
Total cash lease payments						28,464						908						29,372
Less: amounts representing interest						(2,347)						(138)						(2,485)
Total lease liabilities						$	26,117					$	770					$	26,887

X

- References

No definition available.

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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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X

- 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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