Leases

12 Months Ended

Dec. 31, 2024

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