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

​