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Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Lease Cost Included in Cost of Sale and Operating Expenses Lease cost is recognized in both the Cost of Sales and Operating Expenses sections of the Consolidated Statements of Income.

(In thousands)

 

Year ended December 31, 2023

 

 

Year ended December 31, 2022

 

 

 

 

 

 

 

 

Lease Cost

 

 

 

 

 

 

Operating lease cost

 

$

17,820

 

 

$

16,042

 

Short-term lease cost

 

 

10,786

 

 

 

7,029

 

Variable lease cost

 

 

2,354

 

 

 

1,206

 

Total lease cost

 

$

30,960

 

 

$

24,277

 

Other Information

 

 

 

 

 

 

Cash paid for amounts included in the
   measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flow from operating
   leases

 

$

17,838

 

 

$

15,963

 

Right-of-use assets obtained in exchange
   for new operating lease liabilities

 

 

12,134

 

 

 

7,588

 

 

Schedule of Maturities of Lease Liabilities The following table outlines maturities of lease liabilities as of December 31, 2023:

 

(In thousands)

 

 

 

Undiscounted Cash Flows:

 

 

 

2024

 

$

16,105

 

2025

 

 

11,988

 

2026

 

 

9,201

 

2027

 

 

7,002

 

2028

 

 

6,063

 

Subsequent to 2028

 

 

34,555

 

Total Undiscounted Cash Flows

 

$

84,914

 

Less: Imputed interest

 

 

(13,155

)

Present value

 

$

71,759

 

Current operating lease liabilities (1)

 

 

13,733

 

Non-current operating lease liabilities

 

 

58,026

 

Total lease liabilities

 

$

71,759

 

(1)
This item is included in Accrued liabilities line on the Company’s Consolidated Balance Sheet.
Schedule of Operating Leases Weighted Average, Remaining Lease Term and Discount Rate

Weighted-average remaining lease term-operating leases

 

9 Years

Weighted-average discount rate-operating leases

 

3.8%