XML 67 R49.htm IDEA: XBRL DOCUMENT v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of components of lease cost
The components of the Company’s operating and finance lease costs, recognized in the Consolidated Statements of Operations, for the years ended December 31, 2024 and 2023 are as follows:
Years Ended
December 31, 2024December 31, 2023
Finance lease cost:
Amortization of ROU assets(1)
$39,044 $15,406 
Interest on finance lease liabilities17,537 18,265 
Total finance lease cost$56,581 $33,671 
Operating lease expense$30,549 $28,876 
Total lease costs(2)
$87,130 $62,547 
(1) Amortization expense of ROU assets totaled $39.0 million and $15.4 million for the years ended December 31, 2024 and 2023, respectively, which includes $10.2 million and $10.6 million recognized as cost of goods sold and $28.8 million and $4.8 million recognized as a component of Operating expenses in the Consolidated Statements of Operations for the years ended December 31, 2024 and 2023, respectively.
(2) Excludes expenses incurred on short-term lease and low-value leases totaling $0.2 million for the years ended December 31, 2024 and 2023.
For the years ended December 31, 2024 and 2023, cash flows associated with the Company’s failed sale leaseback arrangements, as recognized in the Consolidated Statements of Cash Flows, were as follows:
Years Ended
December 31, 2024December 31, 2023
Cash flows from operating activities:
Operating cash flows from sale leaseback financial obligations$(23,726)$(24,150)
Cash flows from financing activities:
Financing cash flows from sale leaseback financial obligations(5,777)(4,308)
Net cash flows from leasing arrangements$(29,503)$(28,458)
Schedule of leased assets and liabilities
ROU assets and lease liabilities as of December 31, 2024 and 2023 consist of the following:
As of
December 31, 2024December 31, 2023
Operating leasesFinance leasesOperating leasesFinance leases
Lease assets:
Right-of-use assets$167,209 $183,968 $158,547 $183,820 
Accumulated amortization(50,690)(78,800)(40,112)(40,617)
Right-of-use assets, net$116,519 $105,168 $118,435 $143,203 
Lease liabilities:
Lease liabilities - current$17,333 $10,995 $15,993 $9,428 
Lease liabilities - net of current106,192 150,683 110,398 159,961 
Total lease liabilities$123,525 $161,678 $126,391 $169,389 
Schedule of other information related to operating and finance leases
Cash flows associated with the Company’s leasing arrangements for the years ended December 31, 2024 and 2023 are as follows:
Years Ended
December 31, 2024December 31, 2023
Cash flows from operating activities:
Operating cash flows from operating leases$(29,920)$(29,352)
Operating cash flows from finance leases(17,537)(18,265)
Cash flows from financing activities:
Financing cash flows from finance leases(9,445)(8,474)
Net cash flows from leasing arrangements$(56,902)$(56,091)
For the Company’s leasing arrangements, the weighted average remaining lease term as of December 31, 2024 and 2023, and the weighted average discount rate for the years ended December 31, 2024 and 2023 are as follows:
As of
December 31, 2024December 31, 2023
Weighted average remaining lease term (in years) - finance leases9.210.1
Weighted average remaining lease term (in years) - operating leases6.36.9
Weighted average discount rate - finance leases11.2 %10.7 %
Weighted average discount rate - operating leases11.0 %10.5 %
Schedule of sale leaseback arrangements
For the years ended December 31, 2024 and 2023, the expenses incurred by the Company related to its failed sale leaseback arrangements impacted the components of the Consolidated Statements of Operations as follows:
Years Ended
December 31, 2024December 31, 2023
Other income (expense):
Interest on financial obligations$23,726 $24,151 
Operating expenses:
Depreciation on financed property, plant and equipment17,145 17,715 
Total costs associated with failed sale leaseback arrangements$40,871 $41,866 
As of December 31, 2024 and 2023, the assets and obligations that arose from the Company’s failed sale leaseback arrangements are recognized in the Consolidated Balance Sheets as follows:
As of
December 31, 2024December 31, 2023
Property, plant and equipment, net:
Financed property and equipment, net of accumulated depreciation of $59.1 million and $46.0 million, respectively
$143,923 $176,569 
Financial obligation:
Financial obligation - current
$7,208$5,777
Financial obligation - net of current
201,687208,895
Total financial obligation
$208,895 $214,672 
Schedule of future minimum payments due under non-cancelable finance leases
As of December 31, 2024, maturities of the Company’s lease liabilities, under its non-cancelable leases, and financial obligations were as follows:
Fiscal Year ending December 31,Operating LeasesFinance LeasesFinancial Obligations
2025$29,757 $27,753 $30,264 
202628,524 28,175 31,078 
202726,709 28,724 28,944 
202824,856 28,061 29,763 
202920,890 27,928 30,296 
2030 and thereafter41,203 126,741 209,491 
Total undiscounted remaining minimum lease payments171,939 267,382 359,836 
Less: imputed interest(48,414)(105,704)(150,941)
Total discounted remaining minimum lease payments$123,525 $161,678 $208,895 
Schedule of future minimum payments due under non-cancelable operating leases
As of December 31, 2024, maturities of the Company’s lease liabilities, under its non-cancelable leases, and financial obligations were as follows:
Fiscal Year ending December 31,Operating LeasesFinance LeasesFinancial Obligations
2025$29,757 $27,753 $30,264 
202628,524 28,175 31,078 
202726,709 28,724 28,944 
202824,856 28,061 29,763 
202920,890 27,928 30,296 
2030 and thereafter41,203 126,741 209,491 
Total undiscounted remaining minimum lease payments171,939 267,382 359,836 
Less: imputed interest(48,414)(105,704)(150,941)
Total discounted remaining minimum lease payments$123,525 $161,678 $208,895