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Leases

3 Months Ended

Mar. 31, 2024

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						March 31, 2024						December 31, 2023
Right-of-use assets
Operating						Operating right-of-use assets						$	20,472					$	23,265
Financing						Property, plant and equipment, net						673						908
Total right-of use assets												$	21,145					$	24,173
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	21,624					$	24,592
Financing						Long-term debt, current and long-term portions						681						780
Total lease liabilities												$	22,305					$	25,372

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 months ended March 31, 2024 and 2023 was as follows:

									Three Months Ended March 31,
															2024						2023
Finance lease cost
Amortization of right-of-use assets															$	57					$	94
Interest on lease liabilities															18						16
Operating lease cost															3,387						3,195
Short-term lease cost															9						9
Total lease cost															$	3,471					$	3,314

Other information related to the Company’s leasing activity for the three months ended March 31, 2024 and 2023 is as follows:

						Three Months Ended March 31,
						2024						2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	18					$	16
Operating cash flows used for operating leases						$	3,553					$	3,316
Financing cash flows used for finance leases						$	56					$	86
Right-of-use assets obtained in exchange for new operating lease liabilities						$	244					$	1,413
Weighted average remaining lease term - finance leases						3.0 years						3.0 years
Weighted average discount rate - finance leases						9.62		%				8.98		%
Weighted average remaining lease term - operating leases						2.7 years						2.9 years
Weighted average discount rate - operating leases						6.53		%				5.83		%

Maturities of the Company’s lease liabilities as of March 31, 2024 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2024						$	8,257					$	198					$	8,455
2025						7,836						265						8,101
2026						4,387						254						4,641
2027						2,127						62						2,189
2028						975						7						982
Thereafter						25						—						25
Total cash lease payments						23,607						786						24,393
Less: amounts representing interest						(1,983)						(105)						(2,088)
Total lease liabilities						$	21,624					$	681					$	22,305

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						March 31, 2024						December 31, 2023
Right-of-use assets
Operating						Operating right-of-use assets						$	20,472					$	23,265
Financing						Property, plant and equipment, net						673						908
Total right-of use assets												$	21,145					$	24,173
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	21,624					$	24,592
Financing						Long-term debt, current and long-term portions						681						780
Total lease liabilities												$	22,305					$	25,372

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 months ended March 31, 2024 and 2023 was as follows:

									Three Months Ended March 31,
															2024						2023
Finance lease cost
Amortization of right-of-use assets															$	57					$	94
Interest on lease liabilities															18						16
Operating lease cost															3,387						3,195
Short-term lease cost															9						9
Total lease cost															$	3,471					$	3,314

Other information related to the Company’s leasing activity for the three months ended March 31, 2024 and 2023 is as follows:

						Three Months Ended March 31,
						2024						2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	18					$	16
Operating cash flows used for operating leases						$	3,553					$	3,316
Financing cash flows used for finance leases						$	56					$	86
Right-of-use assets obtained in exchange for new operating lease liabilities						$	244					$	1,413
Weighted average remaining lease term - finance leases						3.0 years						3.0 years
Weighted average discount rate - finance leases						9.62		%				8.98		%
Weighted average remaining lease term - operating leases						2.7 years						2.9 years
Weighted average discount rate - operating leases						6.53		%				5.83		%

Maturities of the Company’s lease liabilities as of March 31, 2024 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2024						$	8,257					$	198					$	8,455
2025						7,836						265						8,101
2026						4,387						254						4,641
2027						2,127						62						2,189
2028						975						7						982
Thereafter						25						—						25
Total cash lease payments						23,607						786						24,393
Less: amounts representing interest						(1,983)						(105)						(2,088)
Total lease liabilities						$	21,624					$	681					$	22,305

X

- References

No definition available.

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X

- 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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