Leases

3 Months Ended

Mar. 31, 2023

Lease Expense Components [Abstract]

Lessee, Operating Leases

Leases

The Company primarily has operating and finance leases for certain manufacturing facilities, corporate offices and certain equipment. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities and long-term operating lease liabilities on the Company’s condensed consolidated balance sheets. Finance leases are included in property, plant and equipment, net, debt payable within one year, and long-term debt on the Company’s condensed consolidated balance sheets.

The components of lease expense were as follows:

	Three Months Ended March 31,				Three Months Ended March 31,
	2023		2022		2023		2022
Operating lease expense	$	6,954	$	7,827	$	21,578	$	23,258
Short-term lease expense	1,413		1,719		3,558		5,324
Variable lease expense	326		191		792		620
Finance lease expense:
Amortization of right-of-use assets	523		519		1,500		1,586
Interest on lease liabilities	318		356		980		1,094
Total lease expense	$	9,534	$	10,612	$	28,408	$	31,882

Other information related to leases was as follows:

	Three Months Ended March 31,
	2023			2022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	21,944		$	25,641
Operating cash flows for finance leases	988			1,093
Financing cash flows for finance leases	1,488			1,677
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	11,012			14,968
Finance leases	128			606
Weighted Average Remaining Lease Term (in years)
Operating leases	7.4			7.6
Finance leases	9.1			9.9
Weighted Average Discount Rate
Operating leases	6.1		%	5.7		%
Finance leases	5.9		%	5.8		%

Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows:

Year	Operating Leases		Finance Leases
Remainder of 2023	$	6,567	$	756
2024	24,425		3,059
2025	18,619		3,250
2026	15,136		3,274
2027	11,060		3,033
Thereafter	48,714		16,396
Total future minimum lease payments	124,521		29,768
Less imputed interest	(25,127)		(7,015)
Total	$	99,394	$	22,753

Amounts recognized on the condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022 were as follows:

	March 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets, net	$	91,990	$	111,052
Current operating lease liabilities	20,132		22,552
Long-term operating lease liabilities	75,586		92,760
Finance Leases
Property, plant and equipment, net	22,260		25,690
Debt payable within one year	2,067		2,153
Long-term debt	20,686		23,590

As of March 31, 2023, the Company had additional leases, primarily for real estate, that had not yet commenced with undiscounted lease payments of approximately $3,163.

Lessee, Finance Leases

Leases

The Company primarily has operating and finance leases for certain manufacturing facilities, corporate offices and certain equipment. Operating leases are included in operating lease right-of-use assets, current operating lease liabilities and long-term operating lease liabilities on the Company’s condensed consolidated balance sheets. Finance leases are included in property, plant and equipment, net, debt payable within one year, and long-term debt on the Company’s condensed consolidated balance sheets.

The components of lease expense were as follows:

	Three Months Ended March 31,				Three Months Ended March 31,
	2023		2022		2023		2022
Operating lease expense	$	6,954	$	7,827	$	21,578	$	23,258
Short-term lease expense	1,413		1,719		3,558		5,324
Variable lease expense	326		191		792		620
Finance lease expense:
Amortization of right-of-use assets	523		519		1,500		1,586
Interest on lease liabilities	318		356		980		1,094
Total lease expense	$	9,534	$	10,612	$	28,408	$	31,882

Other information related to leases was as follows:

	Three Months Ended March 31,
	2023			2022
Supplemental Cash Flows Information
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	21,944		$	25,641
Operating cash flows for finance leases	988			1,093
Financing cash flows for finance leases	1,488			1,677
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases	11,012			14,968
Finance leases	128			606
Weighted Average Remaining Lease Term (in years)
Operating leases	7.4			7.6
Finance leases	9.1			9.9
Weighted Average Discount Rate
Operating leases	6.1		%	5.7		%
Finance leases	5.9		%	5.8		%

Future minimum lease payments under non-cancellable leases as of March 31, 2023 were as follows:

Year	Operating Leases		Finance Leases
Remainder of 2023	$	6,567	$	756
2024	24,425		3,059
2025	18,619		3,250
2026	15,136		3,274
2027	11,060		3,033
Thereafter	48,714		16,396
Total future minimum lease payments	124,521		29,768
Less imputed interest	(25,127)		(7,015)
Total	$	99,394	$	22,753

Amounts recognized on the condensed consolidated balance sheets as of March 31, 2023 and December 31, 2022 were as follows:

	March 31, 2023		December 31, 2022
Operating Leases
Operating lease right-of-use assets, net	$	91,990	$	111,052
Current operating lease liabilities	20,132		22,552
Long-term operating lease liabilities	75,586		92,760
Finance Leases
Property, plant and equipment, net	22,260		25,690
Debt payable within one year	2,067		2,153
Long-term debt	20,686		23,590

As of March 31, 2023, the Company had additional leases, primarily for real estate, that had not yet commenced with undiscounted lease payments of approximately $3,163.