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Leases
 12 Months Ended
Dec. 31, 2024
Lessee Disclosure [Abstract]  
Leases Leases
We are generally the lessee in our lease transactions. Lessees are required to recognize a lease liability and a right of use ("ROU") asset for leases with terms greater than 12 months, in accordance with the practical expedient that is available for ongoing accounting.
ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term, using the rate implicit in the lease. If that rate is not readily determinable, the rate is based on the Company’s incremental borrowing rate. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease. Our ROU assets include the values associated with the additional periods when it is reasonably certain that we will exercise the option. We review the carrying value of ROU assets for impairment whenever events and circumstances indicate that the carrying value of an asset group may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition.
We have entered into operating and finance leases for offices, manufacturing facilities, warehouses, vehicles, and certain equipment. Our leases have remaining lease terms of 2 years to 15 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 2 years.
The components of lease expense were as follows:
For the years ended
(in thousands)December 31, 2024December 31, 2023December 31, 2022
Finance lease:
Amortization of right-of-use asset$— $— $416 
Interest on lease liabilities— — 529 
Operating lease:
Fixed lease cost10,776 9,591 6,036 
Variable lease cost516 108 438 
Short-term lease cost2,170 2,060 1,025 
Total lease expense$13,462 $11,759 $8,444 

Supplemental cash flow information related to leases was as follows:
For the years ended
(in thousands)December 31, 2024December 31, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$11,204 $10,105 $6,612 
Operating cash outflows from finance leases— — 529 
Financing cash outflows from finance leases— — 654 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$17,698 $9,114 $38,559 
The initial recognition of each ROU asset and lease liability at lease commencement is a noncash transaction that is excluded from amounts reported in the Consolidated Statements of Cash Flows.
Supplemental balance sheet information related to leases was as follows:
(in thousands)December 31, 2024December 31, 2023
Operating leases
Right of use assets included in Other assets$61,671 $50,825 
Lease liabilities included in
Accrued liabilities$7,607 $7,335 
Other noncurrent liabilities61,062 50,637 
Total operating lease liabilities$68,669 $57,972 
Additional information for leases existing at December 31, 2024 and 2023 was as follows:
December 31, 2024December 31, 2023
Weighted average remaining lease term
Operating leases13 years10 years
Weighted average discount rate
Operating leases5.8 %5.4 %
Maturities of lease liabilities as of December 31, 2024 were as follows:
(in thousands)Operating leases
Year ending December 31,
2025$11,351 
20269,893 
20278,414 
20285,847 
20295,354 
Thereafter57,958 
Total lease payments98,817 
Less imputed interest(30,148)
Total$68,669 
Leases Leases
We are generally the lessee in our lease transactions. Lessees are required to recognize a lease liability and a right of use ("ROU") asset for leases with terms greater than 12 months, in accordance with the practical expedient that is available for ongoing accounting.
ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent an obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term, using the rate implicit in the lease. If that rate is not readily determinable, the rate is based on the Company’s incremental borrowing rate. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease. Our ROU assets include the values associated with the additional periods when it is reasonably certain that we will exercise the option. We review the carrying value of ROU assets for impairment whenever events and circumstances indicate that the carrying value of an asset group may not be recoverable from the estimated future cash flows expected to result from its use and eventual disposition.
We have entered into operating and finance leases for offices, manufacturing facilities, warehouses, vehicles, and certain equipment. Our leases have remaining lease terms of 2 years to 15 years, some of which include options to extend the leases for up to 10 years, and some of which include options to terminate the leases within 2 years.
The components of lease expense were as follows:
For the years ended
(in thousands)December 31, 2024December 31, 2023December 31, 2022
Finance lease:
Amortization of right-of-use asset$— $— $416 
Interest on lease liabilities— — 529 
Operating lease:
Fixed lease cost10,776 9,591 6,036 
Variable lease cost516 108 438 
Short-term lease cost2,170 2,060 1,025 
Total lease expense$13,462 $11,759 $8,444 

Supplemental cash flow information related to leases was as follows:
For the years ended
(in thousands)December 31, 2024December 31, 2023December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases$11,204 $10,105 $6,612 
Operating cash outflows from finance leases— — 529 
Financing cash outflows from finance leases— — 654 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases$17,698 $9,114 $38,559 
The initial recognition of each ROU asset and lease liability at lease commencement is a noncash transaction that is excluded from amounts reported in the Consolidated Statements of Cash Flows.
Supplemental balance sheet information related to leases was as follows:
(in thousands)December 31, 2024December 31, 2023
Operating leases
Right of use assets included in Other assets$61,671 $50,825 
Lease liabilities included in
Accrued liabilities$7,607 $7,335 
Other noncurrent liabilities61,062 50,637 
Total operating lease liabilities$68,669 $57,972 
Additional information for leases existing at December 31, 2024 and 2023 was as follows:
December 31, 2024December 31, 2023
Weighted average remaining lease term
Operating leases13 years10 years
Weighted average discount rate
Operating leases5.8 %5.4 %
Maturities of lease liabilities as of December 31, 2024 were as follows:
(in thousands)Operating leases
Year ending December 31,
2025$11,351 
20269,893 
20278,414 
20285,847 
20295,354 
Thereafter57,958 
Total lease payments98,817 
Less imputed interest(30,148)
Total$68,669