Leases

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

LEASES

We have operating lease arrangements for corporate offices, cellular towers, storage units and small building space. The building space is used to house infrastructure, such as transmitters, antennae and other various equipment for the Company’s wireless paging services. For leases with a term of 12 months or less, renewal terms are generally of an evergreen nature (either month-to-month or year-to-year). For leases with a term greater than 12 months, renewal terms are generally explicit and provide for one to five optional renewals consistent with the initial term. Many of our leases, with the exception of those for our corporate offices, include options to terminate the lease within one year. Variable lease payments, residual value guarantees or purchase options are not generally present in these leases.

Lease costs are included in technology operations and general and administrative expenses in the Condensed Consolidated Statements of Operations. The following table presents lease costs disaggregated by type:

	For the Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Operating lease cost	$	1,035	$	1,178
Short-term lease cost	2,452		2,280
Total lease cost	$	3,487	$	3,458

The following table presents supplemental cash flow information:

	For the Three Months Ended March 31,
(Dollars in thousands)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities - operating leases	$	1,172	$	1,368

The following table presents the weighted average remaining lease term and discount rate:

	March 31,
(Dollars in thousands)	2024	2023
Weighted average remaining lease term - operating leases (in years)	4.50	4.70
Weighted average discount rate - operating leases	6.05%	4.79%

Maturities of lease liabilities as of March 31, 2024, were as follows:

For the Year Ended December 31,	(Dollars in thousands)
2024 (remaining nine months)	$	3,101
2025	2,518
2026	2,054
2027	1,517
2028	1,184
Thereafter	1,452
Total future lease payments	11,826
Imputed interest	(1,423)
Total	$	10,403