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Leases | 12 Months Ended
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Dec. 31, 2024
Leases [Abstract] |
Leases | Leases Lessee At December 31, 2024 and 2023, 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,
|  |  |  | 2024 |  | 2023
Right-of-use assets |  |  |  |  |  |
Operating |  | Operating right-of-use assets |  | $ | 23,153 |  |  | $ | 23,265 |
Financing |  | Property, plant and equipment, net |  | 582 |  |  | 908 |
Total right-of use assets |  |  |  | $ | 23,735 |  |  | $ | 24,173 |
Lease liabilities |  |  |  |  |  |
Operating |  | Operating lease liabilities, current and long-term portions |  | $ | 24,539 |  |  | $ | 24,592 |
Financing |  | Long-term debt, current and long-term portions |  | 545 |  |  | 780 |
Total lease liabilities |  |  |  | $ | 25,084 |  |  | $ | 25,372 |
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, 2024 and 2023 is as follows:
|  | 2024 |  | 2023
Finance lease cost |  |  |  |
Amortization of right-of-use assets |  | $ | 232 |  |  | $ | 292 |
Interest on lease liabilities |  | 62 |  |  | 74 |
Operating lease cost |  | 13,597 |  |  | 13,797 |
Short-term lease cost |  | 22 |  |  | 36 |
Total lease cost |  | $ | 13,913 |  |  | $ | 14,199 |
Other information related to the Company’s leasing activity for year ended December 31, 2024 and 2023 is as follows:
|  | Year ended December 31,
|  | 2024 |  | 2023
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows used for finance leases |  | $ | 63 |  |  | $ | 73 |
Operating cash flows used for operating leases |  | $ | 13,523 |  |  | $ | 14,928 |
Financing cash flows used for finance leases |  | $ | 221 |  |  | $ | 394 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  | $ | 62 |  |  | $ | 492 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 12,380 |  |  | $ | 9,569 |
Weighted average remaining lease term - finance leases |  | 2.3 years |  | 3.3 years
Weighted average discount rate - finance leases |  | 9.53 | % |  | 9.71 | %
Weighted average remaining lease term - operating leases |  | 2.9 years |  | 2.7 years
Weighted average discount rate - operating leases |  | 7.27 | % |  | 6.51 | %
Maturities of the Company’s lease liabilities as of December 31, 2024 are as follows:
Year |  | Operating Leases |  | Finance Leases |  | Total
2025 |  | $ | 11,433 |  |  | $ | 273 |  |  | $ | 11,706 |
2026 |  | 7,508 |  |  | 262 |  |  | 7,770 |
2027 |  | 4,629 |  |  | 65 |  |  | 4,694 |
2028 |  | 2,536 |  |  | 7 |  |  | 2,543 |
2029 |  | 1,194 |  |  | — |  |  | 1,194 |
Thereafter |  | — |  |  | — |  |  | — |
Total cash lease payments |  | 27,300 |  |  | 607 |  |  | 27,907 |
Less: amounts representing interest |  | (2,762) |  |  | (62) |  |  | (2,824) |
Total lease liabilities |  | $ | 24,539 |  |  | $ | 545 |  |  | $ | 25,084 |

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- 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 + Details
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