Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases [Abstract]

Lease Expense and Other Information

Components of lease expense and other information for the periods presented are summarized as follows (in thousands, except terms and rates):

	Three Months Ended March 31,
	2024			2023
Lease expense
Finance lease expense:
Amortization of right-of-use assets	$	1,820		$	1,939
Interest on lease liabilities	318			273
Operating lease expense	1,423			1,423
Short-term lease expense	8			6
Total lease expense	$	3,569		$	3,641
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases	$	318		$	273
Financing cash outflow from finance leases	$	1,787		$	1,960
Finance lease liabilities arising from obtaining finance lease right-of-use assets	$	1,871		$	1,928
Operating leases:
Operating cash outflow from operating leases	$	1,431		$	1,385
Operating lease liabilities arising from obtaining operating lease right-of-use assets	$	149		$	154
Other information as of March 31, 2024
Finance leases:
Weighted-average remaining lease term (years)	1.9
Weighted-average discount rate	10.7		%
Operating leases:
Weighted-average remaining lease term (years)	8.8
Weighted-average discount rate	3.9		%

Operating Lease Liability Maturity

Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of March 31, 2024 are as follows (in thousands):

Years ending December 31,
Remaining 2024	$	4,290
2025	5,701
2026	5,843
2027	5,989
2028	6,139
Thereafter	26,695
Total	54,657
Less: imputed interest	(8,584)
Present value of operating lease obligations	$	46,073

Finance Lease Liability Maturity

Future minimum lease payments for the Company’s finance leases as of March 31, 2024 were as follows (in thousands):

Years ending December 31,
Remaining 2024	$	5,914
2025	5,234
2026	2,799
2027	360
2028	—
Thereafter	—
Total	14,307
Less: amounts representing interest	(1,581)
Present value of finance lease obligations	$	12,726