Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.24.3
Leases (Tables)
9 Months Ended
Sep. 30, 2024
Leases  
Schedule of components of lease expense

The components of lease expense for the nine months ended September 30, 2024 and 2023 are as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

September 30, 

 

September 30, 

 

​

​

2024

 

2023

 

Lease cost

​

​

​

​

​

​

​

Operating lease cost

 

$

24,595

 

$

12,104

​

Finance lease cost

​

​

​

​

​

​

​

Amortization of ROU assets

​

​

157

​

​

155

​

Interest on lease liabilities

​

​

66

​

​

62

​

Total finance lease cost

​

​

223

​

​

217

​

Variable lease cost (1)

​

​

16,860

​

​

8,499

​

Short-term lease cost

​

​

1,447

​

​

805

​

Total lease cost

 

$

43,125

 

$

21,625

​

​

​

​

​

​

​

​

​

Weighted average remaining lease term

​

​

​

​

​

​

​

Operating leases

​

​

13 years

​

​

13 years

​

Finance leases

​

​

4 years

​

​

4 years

​

Weighted average discount rate

​

​

​

​

​

​

​

Operating leases

​

​

10.31

%

​

8.63

%

Finance leases

​

​

11.14

%

​

9.07

%

(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

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

​

​

​

​

​

​

​

​

    

September 30, 

    

December 31,

​

​

2024

​

2023

Finance lease right-of-use assets (1)

​

$

841

​

$

850

Current portion of finance lease liabilities (1)

​

 

172

​

 

222

Long-term portion of finance lease liabilities (1)

​

​

730

​

​

658

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

​

​

​

​

​

​

​

​

​

​

September 30, 

​

September 30, 

​

​

2024

​

2023

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

 

​

​

​

​

​

Operating cash flows from operating leases

​

$

21,479

​

$

10,760

Operating cash flows from finance leases

​

$

157

​

$

155

Financing cash flows from finance leases

​

$

199

​

$

208

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

​

​

​

​

​

​

Operating leases

​

$

3,081

​

$

9,039

Finance leases

 

$

—

​

$

81

Schedule of maturities of operating lease liabilities

As of September 30, 2024, maturities of the Company’s operating lease liabilities are as follows (in thousands):

​

​

​

​

​

2024, three months remaining

​

$

6,217

2025

​

​

44,802

2026

​

​

45,712

2027

​

​

46,377

2028

​

​

45,774

Thereafter

​

​

423,713

Total lease payments

​

​

612,595

Less: imputed interest

​

​

(300,675)

Present value of operating lease liabilities

 

$

311,920

Schedule of maturities of finance lease liabilities

As of September 30, 2024, maturities of the Company’s finance lease liabilities are as follows (in thousands):

​

​

​

​

​

2024, three months remaining

​

$

107

2025

​

​

259

2026

​

​

259

2027

​

​

259

2028

​

​

237

Total lease payments

​

​

1,121

Less: imputed interest

​

​

(219)

Present value of finance lease liabilities

 

$

902

​