Leases

12 Months Ended

Dec. 31, 2023

Lessee

At December 31, 2023 and 2022, the operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet are as follows:


	Balance Sheet Location	December 31,
		2023		2022
Right-of-use assets
Operating	Operating right-of-use assets	$	23,265	$	26,075
Financing	Property, plant and equipment, net	908		699
Total right-of use assets		$	24,173	$	26,774

Lease liabilities
Operating	Operating lease liabilities, current and long-term portions	$	24,592	$	28,552
Financing	Long-term debt, current and long-term portions	780		820
Total lease liabilities		$	25,372	$	29,372

Operating lease costs are recorded in a single expense on the statements 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 statements of operations for the years ended December 31, 2023 and 2022 is as follows:



	2023		2022
Finance lease cost
Amortization of right-of-use assets	$	292	$	136
Interest on lease liabilities	74		20
Operating lease cost	13,797		12,214
Short-term lease cost	36		594


Total lease cost	$	14,199	$	12,964

Other information related to the Company’s leasing activity for year ended December 31, 2023 and 2022 is as follows:


	Year ended December 31,
	2023			2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases	$	73		$	20
Operating cash flows used for operating leases	$	14,928		$	12,626
Financing cash flows used for finance leases	$	394		$	116

Right-of-use assets obtained in exchange for new finance lease liabilities	$	492		$	590
Right-of-use assets obtained in exchange for new operating lease liabilities	$	9,569		$	6,721

Weighted average remaining lease term - finance leases	3.3 years			3.1 years
Weighted average discount rate - finance leases	9.71		%	9.37		%
Weighted average remaining lease term - operating leases	2.7 years			2.8 years
Weighted average discount rate - operating leases	6.51		%	5.81		%

Maturities of the Company’s lease liabilities as of December 31, 2023 are as follows:


Year	Operating Leases		Finance Leases		Total
2024	$	11,776	$	312	$	12,089
2025	7,785		268		8,052
2026	4,335		257		4,592
2027	2,075		59		2,134
2028	923		7		930
Thereafter	25		—		25
Total cash lease payments	26,919		903		27,822
Less: amounts representing interest	(2,327)		(123)		(2,450)
Total lease liabilities	$	24,592	$	780	$	25,372