XML 42 R30.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Leases (Tables)
 3 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Components of Lease Expense and Cash Flow Information The following table summarizes the lease expense by category in the Consolidated Statement of Income:
(in thousands)For the Three Months Ended March 31,
20242023
Cost of sales$1,824 $1,902 
Research and development expenses77 63 
Selling, general and administrative expenses129 19 
Interest expense3 18 
Total$2,033 $2,002 
The following table summarizes the components of lease expense and income:
(in thousands)For the Three Months Ended March 31,
20242023
Operating lease cost
$1,532 $1,359 
Finance lease cost
Amortization of right-of-use (“ROU”) asset17 21 
Interest expense3 4 
Short-term lease cost
199 17 
Variable lease cost
282 601 
Sublease income— (266)
Total lease cost, net$2,033 $1,736 
The following table presents supplemental cash flow information related to leases:
(in thousands)For the Three Months Ended March 31,
20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows paid for operating leases$1,493 $1,233 
Operating cash flows paid for interest portion of finance leases3 4 
Financing cash flows paid for principal portion of finance leases20 22 
Right-of-use assets obtained in exchange for lease obligations
Operating leases
1,139 155 
Supplemental Balance Sheet Information
The following table presents supplemental balance sheet information related to leases:
(in thousands)March 31, 2024December 31, 2023
Operating lease ROU assets, net
$26,350 $27,145 
Operating lease liabilities, current
4,123 3,912 
Operating lease liabilities, non-current 24,095 25,070 
Total operating lease liabilities
$28,218 $28,982 
Finance lease ROU assets, net 1
$126 $144 
Finance lease liabilities, current 76 76 
Finance lease liabilities, non-current 75 94 
Total finance lease liabilities
$151 $170 
1.Included in Property, plant and equipment, net for finance leases on the Consolidated Balance Sheets.
Maturity Analysis of Operating Lease Liabilities
The following table presents maturity analysis of lease liabilities as of March 31, 2024:
(in thousands)Operating LeasesFinance Leases
Nine months ending December 31, 2024$4,570 $62 
Year ending December 31, 20256,250 81 
Year ending December 31, 20265,946 17 
Year ending December 31, 20275,950 — 
Year ending December 31, 20284,972 — 
Year ending December 31, 20294,000 — 
Thereafter3,534 — 
Total undiscounted lease payments
35,222 160 
Less: imputed interest
7,004 9 
Total lease liabilities
$28,218 $151 
Maturity Analysis of Financing Lease Liabilities
The following table presents maturity analysis of lease liabilities as of March 31, 2024:
(in thousands)Operating LeasesFinance Leases
Nine months ending December 31, 2024$4,570 $62 
Year ending December 31, 20256,250 81 
Year ending December 31, 20265,946 17 
Year ending December 31, 20275,950 — 
Year ending December 31, 20284,972 — 
Year ending December 31, 20294,000 — 
Thereafter3,534 — 
Total undiscounted lease payments
35,222 160 
Less: imputed interest
7,004 9 
Total lease liabilities
$28,218 $151