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Leases
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases
19.
Leases

The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. These leases have remaining lease terms ranging from 1 month to 21 years, some of which may include options to extend the leases for up to ten years, and some of which may include options to terminate the leases within one year. These leases consist of payments that are fixed or variable. Variable lease payments are based on an index or a rate such as the Consumer Price Index. As of December 31, 2024 and 2023, assets recorded under finance leases were $1.3 million and $1.7 million, respectively, and accumulated depreciation associated with finance leases was $2.2 million and $1.6 million, respectively.

Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets.

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

 

 

 

Years Ended December 31,

 

 

2024

 

 

2023

 

 

2022

 

Operating lease cost

 

$

12,594

 

 

$

7,771

 

 

$

6,622

 

 

 

 

 

 

 

 

 

 

Finance lease cost

 

 

 

 

 

 

 

 

 

Amortization of lease expense

 

 

670

 

 

 

675

 

 

 

564

 

Interest on lease liabilities

 

 

83

 

 

 

103

 

 

 

70

 

 

 

 

 

 

 

 

 

 

Sublease income

 

 

(248

)

 

 

(1,025

)

 

 

(649

)

 

 

 

 

 

 

 

 

 

Total lease cost

 

$

13,099

 

 

$

7,524

 

 

$

6,607

 

 

Other information related to leases was as follows (dollars in thousands):

 

 

 

Years Ended December 31 ,

 

 

2024

 

 

2023

 

 

2022

 

Supplemental Cash Flows Information

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

11,574

 

 

$

7,783

 

 

$

6,781

 

Operating cash flows from finance leases

 

 

83

 

 

 

103

 

 

 

70

 

Financing cash flows from finance leases

 

 

670

 

 

 

675

 

 

 

564

 

 

 

 

 

 

 

 

 

 

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

 

 

 

 

 

 

 

 

 

Operating leases

 

 

14,117

 

 

 

25,124

 

 

 

 

Finance leases

 

 

152

 

 

 

486

 

 

 

971

 

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Weighted-Average Remaining Lease Term

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

7.07 years

 

 

8.73 years

 

Finance leases

 

2.50 years

 

 

3.00 years

 

 

 

 

 

 

 

Weighted-Average Discount Rate

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

 

6.71

%

 

 

6.02

%

Finance leases

 

 

5.73

%

 

 

5.24

%

 

Future minimum lease payments under non-cancellable leases as of December 31, 2024 were as follows (in thousands):

 

Years ending December 31,

 

Operating
Leases

 

 

Finance
Leases

 

2025

 

$

7,611

 

 

$

607

 

2026

 

 

7,302

 

 

 

345

 

2027

 

 

6,797

 

 

 

267

 

2028

 

 

6,543

 

 

 

27

 

2029

 

 

5,412

 

 

 

8

 

Thereafter

 

 

12,832

 

 

 

 

 

 

 

 

 

 

Total future minimum lease payments

 

 

46,497

 

 

 

1,254

 

Less: imputed interest

 

 

10,493

 

 

 

93

 

Total lease obligations

 

 

36,004

 

 

 

1,161

 

Less: current portion

 

 

5,350

 

 

 

554

 

Long-term lease obligations

 

$

30,654

 

 

$

607