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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases

The maturities of lease liabilities under our operating and finance leases as of December 31, 2024 were as follows:

 

Operating Leases

 

Finance Leases

 

Years Ending December 31,

 

(in thousands)

 

2025

 

$

17,004

 

 

$

1,263

 

2026

 

 

15,677

 

 

 

1,285

 

2027

 

 

5,494

 

 

 

437

 

2028

 

 

3,319

 

 

 

 

2029

 

 

3,415

 

 

 

 

Thereafter

 

 

9,044

 

 

 

 

Total lease payments

 

$

53,953

 

 

$

2,985

 

Less: amount representing interest

 

 

(11,160

)

 

 

(346

)

Present value of lease liabilities

 

$

42,793

 

 

$

2,639

 

 

 

 

 

 

 

 

Balance as of December 31, 2024

 

 

 

 

 

 

Other current liabilities

 

$

12,879

 

 

$

1,038

 

Operating lease liabilities – long-term

 

 

29,914

 

 

 

 

Other long-term liabilities

 

 

 

 

 

1,601

 

Total

 

$

42,793

 

 

$

2,639

 

Components of Lease Cost

The components of lease cost were as follows:

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

(in thousands)

 

Operating lease cost:

 

 

 

 

 

 

Operating lease cost

 

$

16,930

 

 

$

17,192

 

Short-term lease cost

 

 

193

 

 

 

201

 

Total operating lease cost

 

$

17,123

 

 

$

17,393

 

Finance lease cost:

 

 

 

 

 

 

Amortization expense

 

$

959

 

 

$

976

 

Interest on lease liabilities

 

 

326

 

 

 

416

 

Total finance lease cost

 

$

1,285

 

 

$

1,392

 

 

Summary of Other Information Related to Leases

Other information related to leases was as follows:

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

(in thousands, except lease term and discount rate)

 

Supplemental Cash Flows Information

 

 

 

 

 

 

Cash paid for amounts included in the measurement of
   lease liabilities:

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

16,019

 

 

$

16,660

 

Operating cash flows for finance leases

 

 

326

 

 

 

416

 

Financing cash flows for finance leases

 

 

892

 

 

 

947

 

 

 

 

 

 

 

 

Operating lease assets obtained in exchange for lease obligations:

 

$

 

 

$

312

 

Finance lease assets obtained in exchange for lease obligations:

 

 

 

 

 

 

Non-cash (decrease) increase to operating lease assets due to remeasurement of lease liabilities:

 

 

(3,002

)

 

 

(1,589

)

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

Operating leases

 

4.7 years

 

 

5.2 years

 

Finance leases

 

2.3 years

 

 

3.3 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

Operating leases

 

 

11.2

%

 

 

11.4

%

Finance leases

 

 

10.4

%

 

 

10.4

%