Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases  
Schedule of components of lease expense

The components of lease expense for the period were as follows (in thousands):

December 31, 

December 31, 

2023

2022

Lease cost

Operating lease cost

 

$

16,466

 

$

14,587

Finance lease cost

Amortization of ROU assets

210

59

Interest on lease liabilities

82

25

Total finance lease cost

292

84

Variable lease cost (1)

12,158

11,373

Short-term lease cost

1,114

945

Total lease cost

 

$

30,030

 

$

26,989

Weighted average remaining lease term

Operating leases

13 years

13 years

Finance leases

4 years

5 years

Weighted average discount rate

Operating leases

8.74

%

8.40

%

Finance leases

9.17

%

8.96

%

(1) Variable lease cost is comprised of percentage rent and common area maintenance.
Summary of components of finance lease assets and liabilities on the consolidated balance sheet

The components of finance lease assets and liabilities on the consolidated balance sheet were as follows (in thousands):

    

December 31, 

    

December 31, 

2023

2022

Finance lease right-of-use assets (1)

$

850

$

942

Current portion of finance lease liabilities (1)

 

222

 

177

Long-term portion of finance lease liabilities (1)

658

754

(1) Finance lease assets and liabilities are included in other assets, other current liabilities, and other long-term liabilities on the consolidated balance sheets.
Schedule of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the period was as follows (in thousands):

December 31, 

 

December 31, 

2023

 

2022

Cash paid for amounts included in the measurement of lease liabilities:

 

Operating cash flows from operating leases

$

14,968

$

13,297

Operating cash flows from finance leases

$

210

$

59

Financing cash flows from finance leases

$

271

$

51

Right-of-use assets obtained in exchange for lease obligations:

Operating leases

$

12,699

$

5,487

Finance leases

 

$

118

$

1,000

Schedule of maturities of operating lease liabilities

As of December 31, 2023, maturities of the Company’s operating lease liabilities are as follows (in thousands):

2024

$

10,324

2025

17,373

2026

17,177

2027

17,565

2028

10,192

Thereafter

160,373

Total lease payments

233,004

Less: imputed interest

(105,626)

Present value of operating lease liabilities

 

$

127,378

Schedule of maturities of finance lease liabilities

As of December 31, 2023, maturities of the Company’s finance lease liabilities are as follows (in thousands):

2024

$

289

2025

266

2026

266

2027

221

Total lease payments

1,042

Less: imputed interest

(162)

Present value of finance lease liabilities

 

$

880