LEASES

9 Months Ended

Sep. 30, 2024

LEASES

LEASES

14.    LEASES

The Company has operating leases for office space, manufacturing facilities and equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes.

Supplemental cash flow information related to the Company’s operating and finance leases for the nine months ended September 30, 2024 and 2023 was as follows:

	September 30,
	2024		2023
Cash paid for operating leases	$	4,791	$	4,195
Cash paid for interest on finance lease obligations	$	305	$	318
Assets acquired under operating leases	$	3,709	$	6,578
Operating lease assets obtained in acquisitions	$	378	$	224

The Company’s finance lease obligations relate to a manufacturing facility. Finance lease assets of $7,734 and $8,208 as of September 30, 2024 and December 31, 2023, respectively, are included in property, plant and equipment, net. As of September 30, 2024, finance lease obligations of $439 are included in accrued liabilities and $8,273 are included in long-term debt on the condensed consolidated balance sheet. As of December 31, 2023, finance lease obligations of $412 are included in accrued liabilities and $8,607 are included in long-term debt on the condensed consolidated balance sheet.

The following table presents the maturity of the Company’s operating and finance lease liabilities as of September 30, 2024:

	Operating Leases		Finance Leases
Remainder of 2024	$	1,593	$	204
2025		5,681		831
2026		4,958		848
2027		4,203		867
2028		3,259		886
Thereafter		8,001		7,884
Total undiscounted cash flows	$	27,695	$	11,520
Less: present value discount		(3,383)		(2,809)
Total lease liabilities	$	24,312	$	8,711

As of September 30, 2024, the Company has entered into building lease renewals with future minimum lease payments of $1,720 that have not yet commenced.

The Company has operating leases for certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $242 and $726

during the three and nine months ended September 30, 2024 and $242 and $706 during the three and nine months ended September 30, 2023, respectively, and is obligated to make payments of $202 during the remainder of 2024. Future fixed minimum lease payments under these leases as of September 30, 2024 are $5,783.