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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Present Value of Lease Payments for Remaining Lease Term

Based on the present value of the lease payments for the remaining lease term of the Company’s existing leases, the Company’s right-of-use assets and lease liabilities for operating leases as of December 31, 2024 and 2023 were as follows:

 

 

 

Classification

 

December 31,

 

(in thousands)

 

 

 

2024

 

 

2023

 

Assets

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

Other assets

 

$

25,932

 

 

$

33,841

 

Liabilities

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

Other accrued expenses

 

 

13,323

 

 

 

14,573

 

Noncurrent operating lease liabilities

 

Other long-term liabilities

 

 

24,648

 

 

 

33,967

 

Total lease liabilities

 

 

 

$

37,971

 

 

$

48,540

 

Schedule of Right-of-use Assets and Related Lease Liabilities

Information related to the Company’s right-of-use assets and related lease liabilities were as follows:

 

 

Year Ended December 31,

 

(amounts in thousands)

 

2024

 

 

2023

 

 

2022

 

Cash paid for operating lease liabilities

 

$

18,518

 

 

$

25,527

 

 

$

22,561

 

Right-of-use assets obtained in exchange for new operating lease obligations

 

 

855

 

 

 

18,187

 

 

 

29,937

 

Weighted-average remaining lease term

 

3.5 years

 

 

3.8 years

 

 

4.3 years

 

Weighted-average discount rate

 

 

9.9

%

 

 

9.8

%

 

 

8.6

%

Schedule of Maturities of Lease Liabilities

Maturities of lease liabilities as of December 31, 2024 were as follows:

(in thousands)

 

 

 

2025

 

$

16,328

 

2026

 

 

12,735

 

2027

 

 

6,914

 

2028

 

 

4,072

 

2029

 

 

3,351

 

Thereafter

 

 

1,883

 

Total lease payments

 

 

45,283

 

Less: imputed interest

 

 

(7,312

)

Present value of lease liabilities

 

$

37,971