LEASES (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Assets and Liabilities

The components of operating and finance leases are presented on the Company’s Consolidated Balance Sheets as follows (in thousands):

	Financial statement line item	September 30, 2023		December 31, 2022
Assets:
Operating lease right-of-use assets	Operating lease right-of-use assets	$	6,583	$	20,430
Finance lease right-of-use assets*	Property, plant and equipment, net	$	17,996	$	31,213
Liabilities:
Operating lease liabilities,    current portion	Operating lease liabilities,    current portion	$	205	$	769
Operating lease liabilities, net    of current portion	Operating lease liabilities, net    of current portion	$	1,047	$	720
Finance lease liabilities, current portion	Finance lease liabilities, current portion	$	19,833	$	—
Finance lease liabilities, net of    current portion	Finance lease liabilities, net of current portion	$	35,909	$	—
Operating and finance lease liabilities subject to compromise	Liabilities subject to compromise	$	—	$	84,664

* December 31, 2022 revised to reflect the impact of the 2022 impairments of property, plant and equipment.

Schedule of Lease Cost

The components of lease expense were as follows (in thousands):

		Three Months Ended September 30,
	Financial statement line item	2023		2022
Operating lease expense	General and administrative expenses	$	77	$	589
Short-term lease expense	General and administrative expenses	161		195
Finance lease expense:
Amortization of right-of-use assets	Cost of revenue	2,580		9,040
Interest on lease liabilities	Interest expense, net	766		2,278
Total finance lease expense		3,346		11,318
Total lease expense		$	3,584	$	12,102

		Nine Months Ended September 30,
	Financial statement line item	2023		2022
Operating lease expense	General and administrative expenses	$	675	$	898
Short-term lease expense	General and administrative expenses	523		671
Finance lease expense:
Amortization of right-of-use assets	Cost of revenue	9,708		27,563
Interest on lease liabilities	Interest expense, net	1,508		6,617
Total finance lease expense		11,216		34,180
Total lease expense		$	12,414	$	35,749

Information relating to the lease term and discount rate is as follows:

	September 30, 2023		September 30, 2022
Weighted Average Remaining Lease Term (Years)
Operating leases	15.4		10.7
Finance leases	1.3		2.3
Weighted Average Discount Rate
Operating leases	7.1	%	6.5	%
Finance leases	12.9	%	12.7	%

Schedule of Supplemental Cash Flow Information

The following tables summarize the Company’s supplemental cash flow information (in thousands):

	Nine Months Ended September 30,
	2023		2022
Lease Payments
Operating lease payments	$	499	$	474
Finance lease payments	$	3,501	$	34,287
Supplemental Noncash Information
	$	—	$	21,574
Operating lease right-of-use assets obtained in exchange for lease obligations1	$	—	$	10,557
(Decrease) increase in finance lease right-of-use assets as a result of lease modification	$	(11,644)	$	693
Decrease in ROU related due to termination	$	13,144	$	—
Decrease in lease liability due to termination	$	(13,517)	$	—

1Includes operating lease right-of-use assets of $6.7 million that were recorded upon adoption of Topic 842 on January 1, 2022.

Schedule of Operating Lease Liability, Maturity

The Company’s minimum payments under noncancelable operating and finance leases having initial terms and bargain renewal periods in excess of one year are as follows at September 30, 2023, and thereafter (in thousands):

	Operating leases		Finance leases
Remaining 2023	$	272	$	26,173
2024	170		30,950
2025	170		1,863
2026	170		3
2027	170		—
Thereafter	1,252		—
Total lease payments	2,204		58,989
Less: imputed interest	952		3,247
Total	$	1,252	$	55,742

Schedule of Finance Lease Liability, Maturity

The Company’s minimum payments under noncancelable operating and finance leases having initial terms and bargain renewal periods in excess of one year are as follows at September 30, 2023, and thereafter (in thousands):

	Operating leases		Finance leases
Remaining 2023	$	272	$	26,173
2024	170		30,950
2025	170		1,863
2026	170		3
2027	170		—
Thereafter	1,252		—
Total lease payments	2,204		58,989
Less: imputed interest	952		3,247
Total	$	1,252	$	55,742