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Leases

9 Months Ended

Sep. 30, 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						September 30, 2024						December 31, 2023
Right-of-use assets
Operating						Operating right-of-use assets						$	22,742					$	23,265
Financing						Property, plant and equipment, net						582						908
Total right-of use assets												$	23,324					$	24,173
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	23,461					$	24,592
Financing						Long-term debt, current and long-term portions						588						780
Total lease liabilities												$	24,049					$	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 and nine months ended September 30, 2024 and 2023 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Finance lease cost
Amortization of right-of-use assets			$	58					$	89					$	173					$	232
Interest on lease liabilities			14						21						48						55
Operating lease cost			3,452						3,692						10,232						10,305
Short-term lease cost			4						9						22						27
Total lease cost			$	3,528					$	3,811					$	10,475					$	10,619

Other information related to the Company’s leasing activity for the nine months ended September 30, 2024 and 2023 is as follows:

						Nine Months Ended September 30,
						2024						2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	49					$	55
Operating cash flows used for operating leases						$	10,823					$	11,112
Financing cash flows used for finance leases						$	167					$	323
Right-of-use assets obtained in exchange for new operating lease liabilities						$	9,033					$	7,805
Weighted average remaining lease term - finance leases						2.6 years						3.4 years
Weighted average discount rate - finance leases						9.56		%				9.63		%
Weighted average remaining lease term - operating leases						2.8 years						2.7 years
Weighted average discount rate - operating leases						7.10		%				6.32		%

Maturities of the Company’s lease liabilities as of September 30, 2024 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2024						$	2,583					$	59					$	2,642
2025						10,639						272						10,911
2026						6,665						262						6,927
2027						3,842						65						3,907
2028						1,750						7						1,757
Thereafter						472						—						472
Total cash lease payments						25,951						665						26,616
Less: amounts representing interest						(2,490)						(77)						(2,567)
Total lease liabilities						$	23,461					$	588					$	24,049

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, 2024						December 31, 2023
Right-of-use assets
Operating						Operating right-of-use assets						$	22,742					$	23,265
Financing						Property, plant and equipment, net						582						908
Total right-of use assets												$	23,324					$	24,173
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	23,461					$	24,592
Financing						Long-term debt, current and long-term portions						588						780
Total lease liabilities												$	24,049					$	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 and nine months ended September 30, 2024 and 2023 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2024						2023						2024						2023
Finance lease cost
Amortization of right-of-use assets			$	58					$	89					$	173					$	232
Interest on lease liabilities			14						21						48						55
Operating lease cost			3,452						3,692						10,232						10,305
Short-term lease cost			4						9						22						27
Total lease cost			$	3,528					$	3,811					$	10,475					$	10,619

Other information related to the Company’s leasing activity for the nine months ended September 30, 2024 and 2023 is as follows:

						Nine Months Ended September 30,
						2024						2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	49					$	55
Operating cash flows used for operating leases						$	10,823					$	11,112
Financing cash flows used for finance leases						$	167					$	323
Right-of-use assets obtained in exchange for new operating lease liabilities						$	9,033					$	7,805
Weighted average remaining lease term - finance leases						2.6 years						3.4 years
Weighted average discount rate - finance leases						9.56		%				9.63		%
Weighted average remaining lease term - operating leases						2.8 years						2.7 years
Weighted average discount rate - operating leases						7.10		%				6.32		%

Maturities of the Company’s lease liabilities as of September 30, 2024 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2024						$	2,583					$	59					$	2,642
2025						10,639						272						10,911
2026						6,665						262						6,927
2027						3,842						65						3,907
2028						1,750						7						1,757
Thereafter						472						—						472
Total cash lease payments						25,951						665						26,616
Less: amounts representing interest						(2,490)						(77)						(2,567)
Total lease liabilities						$	23,461					$	588					$	24,049

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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