Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Lease-Related Assets and Liabilities

The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheets:

		As of September 30,			As of December 31,
(in thousands)	Classification	2023			2022
Assets
Non-Current
Operating	Operating lease right-of-use assets	$	77,808		$	76,174
Finance	Property and equipment, net	9,532			8,928
Total lease assets		$	87,340		$	85,102
Liabilities
Current
Operating	Current maturities of operating lease obligations	$	27,769		$	26,145
Financing	Current maturities of finance lease obligations	2,694			2,508
Non-Current
Operating	Operating lease obligations	50,085			49,789
Financing	Finance lease obligations	6,909			6,397
Total lease liabilities		$	87,457		$	84,839
Weighted-average remaining lease term:
Operating leases		3.7 years			4.0 years
Finance leases		3.7 years			3.6 years
Weighted-average discount rate:
Operating leases		5.13		%	4.41		%
Finance leases		6.95		%	5.76		%

Schedule of Lease Costs for Finance and Operating Leases

The table below presents certain information related to the lease costs for finance and operating leases:

		Three months ended September 30,				Nine months ended September 30,
(in thousands)	Classification	2023		2022		2023		2022
Operating lease cost(1)	Administrative	$	9,676	$	8,355	$	28,266	$	24,293
Finance lease cost:
Amortization of leased assets(2)	Cost of sales	976		817		2,848		2,388
Interest on finance lease obligations	Interest expense, net	161		87		438		216
Total lease costs		$	10,813	$	9,259	$	31,552	$	26,897

(1)Includes variable lease costs of $1.2 million and $0.9 million for the three months ended September 30, 2023 and 2022, respectively, and $3.5 million and $2.6 million for the nine months ended September 30, 2023 and 2022, respectively, and short-term lease costs of $0.3 million for each of the three months ended September 30, 2023 and 2022, and $0.9 million for each of the nine months ended September 30, 2023 and 2022.

(2)Includes variable lease costs of $0.2 million for each of the three months ended September 30, 2023 and 2022, and $0.6 million for each of the nine months ended September 30, 2023 and 2022.

The table below presents supplemental cash flow information related to leases (in thousands):

	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	7,896	$	7,030	$	23,452	$	20,296
Operating cash flows for finance leases	161		87		438		216
Financing cash flows for finance leases	750		576		2,199		1,661

Schedule of Undiscounted Cash Flows Finance Lease Obligations

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheet as of September 30, 2023 (in thousands):

	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
Remainder of 2023	$	868	$	327	$	7,739	$	8,066
2024	3,147		1,045		27,477		28,522
2025	2,789		894		19,742		20,636
2026	2,457		—		13,676		13,676
2027	1,486		—		7,376		7,376
Thereafter	219		—		6,958		6,958
Total minimum lease payments	10,966		$	2,266	$	82,968	85,234
Less: Amounts representing executory costs	(1)						—
Less: Amounts representing interest	(1,362)						(7,380)
Present value of future minimum lease payments	9,603						77,854
Less: Current obligation under leases	(2,694)						(27,769)
Long-term lease obligations	$	6,909					$	50,085

Schedule of Undiscounted Cash Flows Operating Lease Obligations

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheet as of September 30, 2023 (in thousands):

	Finance Leases		Operating Leases
			Related Party		Other		Total Operating
Remainder of 2023	$	868	$	327	$	7,739	$	8,066
2024	3,147		1,045		27,477		28,522
2025	2,789		894		19,742		20,636
2026	2,457		—		13,676		13,676
2027	1,486		—		7,376		7,376
Thereafter	219		—		6,958		6,958
Total minimum lease payments	10,966		$	2,266	$	82,968	85,234
Less: Amounts representing executory costs	(1)						—
Less: Amounts representing interest	(1,362)						(7,380)
Present value of future minimum lease payments	9,603						77,854
Less: Current obligation under leases	(2,694)						(27,769)
Long-term lease obligations	$	6,909					$	50,085