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Leases
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. This includes leases with properties that were spun-off as part of the Spin-Off. These leases have remaining lease terms ranging from one month to seventeen 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 Consumer Price Index. As of December 31, 2023 and 2022, assets recorded under finance leases were $1.7 million and $1.8 million, respectively, and accumulated depreciation associated with finance leases was $1.6 million and $1.0 million, respectively.
The Company rents or subleases certain real estate to third parties, which are accounted for as operating leases.
As of December 31, 2023, the Company has entered into a lease arrangement for seven years with an option to extend an additional five years. The tentative move date is March 2024, once the unit is made available. Base rent during the initial seven-year term of the 2024 lease agreement will total $2.3 million.
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):
December 31, 2023December 31, 2022
Operating lease cost$7,771 $6,622 
Finance lease cost
Amortization of lease expense675 564 
Interest on lease liabilities103 70 
Sublease income(1,025)(649)
Total lease cost$7,524 $6,607 

Other information related to leases was as follows (dollars in thousands):
December 31, 2023December 31, 2022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$7,783 $6,781 
Operating cash flows from finance leases103 70 
Financing cash flows from finance leases675 564 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases25,124 — 
Finance leases486 971 
December 31, 2023December 31, 2022
Weighted-Average Remaining Lease Term
Operating leases8.73 years6.66 years
Finance leases3.00 years3.41 years
Weighted-Average Discount Rate
Operating leases6.02 %5.50 %
Finance leases5.24 %4.92 %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2024$6,927 $719 
20256,749 556 
20266,342 302 
20276,038 243 
20285,844 6 
Thereafter21,923 — 
Total future minimum lease payments53,823 1,826 
Less: imputed interest12,927 147 
Total lease obligations40,896 1,679 
Less: current portion4,607 646 
Long-term lease obligations$36,289 $1,033 
Leases Leases
The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. This includes leases with properties that were spun-off as part of the Spin-Off. These leases have remaining lease terms ranging from one month to seventeen 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 Consumer Price Index. As of December 31, 2023 and 2022, assets recorded under finance leases were $1.7 million and $1.8 million, respectively, and accumulated depreciation associated with finance leases was $1.6 million and $1.0 million, respectively.
The Company rents or subleases certain real estate to third parties, which are accounted for as operating leases.
As of December 31, 2023, the Company has entered into a lease arrangement for seven years with an option to extend an additional five years. The tentative move date is March 2024, once the unit is made available. Base rent during the initial seven-year term of the 2024 lease agreement will total $2.3 million.
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):
December 31, 2023December 31, 2022
Operating lease cost$7,771 $6,622 
Finance lease cost
Amortization of lease expense675 564 
Interest on lease liabilities103 70 
Sublease income(1,025)(649)
Total lease cost$7,524 $6,607 

Other information related to leases was as follows (dollars in thousands):
December 31, 2023December 31, 2022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$7,783 $6,781 
Operating cash flows from finance leases103 70 
Financing cash flows from finance leases675 564 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases25,124 — 
Finance leases486 971 
December 31, 2023December 31, 2022
Weighted-Average Remaining Lease Term
Operating leases8.73 years6.66 years
Finance leases3.00 years3.41 years
Weighted-Average Discount Rate
Operating leases6.02 %5.50 %
Finance leases5.24 %4.92 %
Future minimum lease payments under non-cancellable leases as of December 31, 2023 were as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2024$6,927 $719 
20256,749 556 
20266,342 302 
20276,038 243 
20285,844 6 
Thereafter21,923 — 
Total future minimum lease payments53,823 1,826 
Less: imputed interest12,927 147 
Total lease obligations40,896 1,679 
Less: current portion4,607 646 
Long-term lease obligations$36,289 $1,033