Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Components of lease expenses , and lease assets and liabilities

The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows:

	Three Months Ended March 31,
(in thousands)	2023		2022
Finance lease cost:
Amortization of right-of-use assets (included in depreciation expense)	$	24	$	24
Interest on lease liabilities		6		8
Operating lease cost		4,571		4,274
Short-term lease cost		140		80
Variable lease cost		456		469
Total lease cost	$	5,197	$	4,855

Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for finance lease	$	6	$	8
Operating cash flows used for operating leases	$	4,435	$	5,316
Financing cash flows used for finance lease	$	43	$	41
Right-of-use assets obtained in exchange for new operating lease liabilities	$	5,406	$	634

The lease assets and liabilities as of March 31, 2023 and December 31, 2022 were as follows (in thousands):

	March 31,			December 31,
	2023			2022
Finance lease right-of-use assets (included in other assets)	$	640		$	664
Operating lease right-of-use assets	$	95,156		$	93,081
Finance lease liability, current (included in current installments of long-term debt)	$	175		$	173
Finance lease liability, noncurrent (included in long-term debt)	$	311		$	355
Operating lease liabilities, current (included in accrued liabilities)	$	13,314		$	12,020
Operating lease liabilities, noncurrent	$	87,561		$	86,687
Weighted average remaining lease term – finance leases	2.7 years			2.9 years
Weighted average remaining lease term – operating leases	9.3 years			9.8 years
Weighted average discount rate – finance leases		4.8	%		4.8	%
Weighted average discount rate – operating leases		4.1	%		4.1	%

Future annual minimum lease payments and finance lease commitments

Future annual minimum lease payments and finance lease commitments as of March 31, 2023 were as follows (in thousands):

Year ending December 31,	Operating Leases			Finance Leases
2023 (remaining nine months)		12,650			145
2024		15,641			194
2025		14,837			178
2026		11,511			—
2027		10,406			—
2028 and thereafter		57,617			—
Total minimum lease payments	$	122,662		$	517
Less: imputed interest		(21,787	)		(31	)
Present value of lease liabilities	$	100,875		$	486