Annual report [Section 13 and 15(d), not S-K Item 405]

Leases (Tables)

v3.25.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases  
Schedule of components of lease expense

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

December 31, 

December 31, 

2024

2023

Lease cost

Operating lease cost

 

$

38,254

 

$

16,466

Finance lease cost

Amortization of ROU assets

212

210

Interest on lease liabilities

92

82

Total finance lease cost

304

292

Variable lease cost (1)

16,327

12,158

Short-term lease cost

1,609

1,114

Total lease cost

 

$

56,494

 

$

30,030

Weighted average remaining lease term

Operating leases

13 years

13 years

Finance leases

4 years

4 years

Weighted average discount rate

Operating leases

10.34

%

8.74

%

Finance leases

11.14

%

9.17

%

(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, 

2024

2023

Finance lease right-of-use assets (1)

$

849

$

850

Current portion of finance lease liabilities (1)

 

189

 

222

Long-term portion of finance lease liabilities (1)

754

658

(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, 

2024

 

2023

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

 

Operating cash flows from operating leases

$

33,440

$

14,968

Operating cash flows from finance leases

$

212

$

210

Financing cash flows from finance leases

$

221

$

271

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

Operating leases

$

4,156

$

12,699

Finance leases

 

$

64

$

118

Schedule of maturities of operating lease liabilities

As of December 31, 2024, maturities of the Company’s operating lease liabilities are as follows (in thousands):

2025

$

40,988

2026

44,514

2027

45,552

2028

43,053

2029

43,544

Thereafter

381,318

Total lease payments

598,969

Less: imputed interest

(292,186)

Present value of operating lease liabilities

 

$

306,783

Schedule of maturities of finance lease liabilities

As of December 31, 2024, maturities of the Company’s finance lease liabilities are as follows (in thousands):

2025

$

342

2026

278

2027

278

2028

255

Total lease payments

1,153

Less: imputed interest

(210)

Present value of finance lease liabilities

 

$

943