LEASES (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Operating lease right-of-use assets and liabilities

Information related to the Company’s operating right-of-use assets and related operating lease liabilities were as follows (dollar amounts in thousands, except lease term and discount rate):

As of December 31,	2023		2022
Assets:
Operating lease right-of-use assets	$	13,361	$	16,145
Liabilities:
Current	4,547		4,266
Long-term	10,376		13,745
Total operating lease liabilities	$	14,923	$	18,011

Weighted-average remaining lease term	4.1		5.0
Weighted-average discount rate	4.15	%	3.91	%

Year Ended December 31,	2023		2022
Cash paid for operating lease liabilities	$	5,504	$	5,579
Right-of-use assets obtained in exchange for new operating lease obligations	1,184		3,181
Cancellations or adjustments of leases that resulted in the reduction of lease assets in exchange for lease liabilities	$	(27)	$	(216)

Approximate aggregate commitments under non-cancelable operating leases

The approximate aggregate commitments under non-cancelable operating leases in effect at December 31, 2023, were as follows (dollar amounts in thousands):

Year Ending December 31,
2024	$	5,341
2025	3,406
2026	2,835
2027	2,356
2028	2,100
Thereafter	517
Total lease payments	$	16,555
Less: Imputed interest (1)	1,632
Present value of lease liabilities	$	14,923

(1) Calculated using our corporate borrowing rate based on the term of each lease ranging from 3.00 percent to 6.89 percent.