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Leases (Tables)
12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Schedule of Lease Cost

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

 

 

For the Year Ended

 

 

 

December 31,

 

 

 

2024

 

 

2023

 

 

Finance lease cost:

 

 

 

 

 

 

Amortization of right-of-use assets

$

2,886

 

 

$

4,358

 

 

Interest on lease liabilities

 

309

 

 

 

1,748

 

 

Operating lease cost

 

7,952

 

 

 

1,111

 

 

Variable lease cost

 

597

 

 

 

651

 

 

Short-term lease cost

 

75,866

 

 

 

25,763

 

 

Total lease cost

$

87,610

 

 

$

33,631

 

 

 

Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to leases were as follows (in thousands):

 

 

For the Year Ended

 

 

 

December 31,

 

 

2024

 

 

2023

 

 

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

 

 

 

 

 

 

Operating cash outflows from operating leases

$

6,563

 

 

$

1,312

 

 

Operating cash outflows from finance leases

$

309

 

 

$

1,748

 

 

Financing cash outflows from finance leases

$

2,622

 

 

$

2,001

 

 

Right-of-use assets obtained in exchange for new lease liabilities:

 

 

 

 

 

 

Operating leases

$

16,105

 

 

$

559

 

 

Finance leases

$

7,666

 

 

$

25,063

 

 

 

Schedule of Lease Terms and Discount Rates

Lease terms and discount rates were as follows:

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Weighted-average remaining lease term:

 

 

 

 

 

 

Operating leases

 

4.4 years

 

 

3.6 years

 

Finance leases

 

2.0 years

 

 

3.6 years

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

5.7

%

 

 

4.7

%

Finance leases

 

 

5.6

%

 

 

5.2

%

 

 

Schedule of Future Minimum Lease Commitments of Operating and Finance Leases Liabilities

Future minimum lease commitments as of December 31, 2024, are as follows (in thousands):

 

 

Finance

 

 

Operating

 

2025

 

$

3,032

 

 

$

7,185

 

2026

 

 

2,084

 

 

 

668

 

2027

 

 

418

 

 

 

1,537

 

2028

 

 

50

 

 

 

1,460

 

2029

 

 

 

 

 

1,492

 

Thereafter

 

 

 

 

 

4,061

 

Total lease payments

 

 

5,584

 

 

 

16,403

 

Less imputed interest

 

 

290

 

 

 

2,327

 

Total

 

$

5,294

 

 

$

14,076