LEASES

3 Months Ended

Mar. 31, 2025

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 three months ended March 31, 2025 and 2024 was as follows:

	March 31,
	2025		2024
Cash paid for operating leases	$	1,669	$	1,601
Cash paid for interest on finance lease obligations	$	98	$	103
Assets acquired under operating leases	$	860	$	175
Operating lease assets obtained in acquisitions	$	—	$	378

The Company’s finance lease obligations relate to a manufacturing facility. Finance lease assets of $7,419 and $7,577 as of March 31, 2025 and December 31, 2024, respectively, are included in property, plant and equipment, net. As of March 31, 2025, finance lease

obligations of $457 are included in accrued liabilities and $8,040 are included in long-term debt on the condensed consolidated balance sheet. As of December 31, 2024, finance lease obligations of $448 are included in accrued liabilities and $8,160 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 March 31, 2025:

	Operating Leases		Finance Leases
Remainder of 2025		4,703		623
2026		5,731		848
2027		4,980		867
2028		3,806		886
2029		2,649		906
Thereafter		5,597		6,978
Total undiscounted cash flows	$	27,466	$	11,108
Less: present value discount		(3,213)		(2,611)
Total lease liabilities	$	24,253	$	8,497

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 $254 and $237 during the three months ended March 31, 2025 and 2024, respectively, and is obligated to make payments of $776 during the remainder of 2025. Future fixed minimum lease payments under these leases as of March 31, 2025 are $6,805.