v3.24.2.u1
Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Lease Cost

The components of lease cost were as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Finance lease cost:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

881

 

 

$

1,973

 

 

$

1,186

 

 

$

3,440

 

Interest on lease liabilities

 

 

104

 

 

 

822

 

 

 

139

 

 

 

1,397

 

Operating lease cost

 

 

1,976

 

 

 

272

 

 

 

2,738

 

 

 

534

 

Variable lease cost

 

 

159

 

 

 

87

 

 

 

316

 

 

 

298

 

Short-term lease cost

 

 

14,903

 

 

 

6,571

 

 

 

26,609

 

 

 

12,362

 

Total lease cost

 

$

18,023

 

 

$

9,725

 

 

$

30,988

 

 

$

18,031

 

Schedule of Supplemental Cash Flow and Other Information Related to Leases

Supplemental cash flow and other information related to leases were as follows (in thousands):

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

2,103

 

 

$

289

 

 

$

2,397

 

 

$

575

 

Operating cash outflows from finance leases

 

$

103

 

 

$

822

 

 

$

108

 

 

$

1,397

 

Financing cash outflows from finance leases

 

$

49

 

 

$

962

 

 

$

114

 

 

$

1,700

 

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

 

 

 

 

 

 

 

 

 

 

 

 

Operating leases

 

$

3,581

 

 

$

559

 

 

$

10,892

 

 

$

559

 

Finance leases

 

$

355

 

 

$

13,274

 

 

$

11,223

 

 

$

20,876

 

Schedule of Lease Terms and Discount Rates

Lease terms and discount rates as of June 30, 2024 and December 31, 2023 are as follows:

 

 

 

June 30, 2024

 

 

December 31, 2023

 

Weighted-average remaining lease term:

 

 

 

 

 

 

Operating leases

 

4.3 years

 

 

3.6 years

 

Finance leases

 

2.4 years

 

 

3.6 years

 

Weighted-average discount rate:

 

 

 

 

 

 

Operating leases

 

 

5.8

%

 

 

4.7

%

Finance leases

 

 

5.6

%

 

 

5.2

%

Schedule of Future Minimum Lease Commitments of Operating and Finance Leases Liabilities

Future minimum lease commitments as of June 30, 2024 are as follows (in thousands):

 

 

Finance

 

 

Operating

 

Remainder of 2024

 

$

1,899

 

 

$

3,426

 

2025

 

 

3,121

 

 

 

6,462

 

2026

 

 

2,106

 

 

 

638

 

2027

 

 

432

 

 

 

1,637

 

2028

 

 

56

 

 

 

1,460

 

Thereafter

 

 

—

 

 

 

5,553

 

Total lease payments

 

 

7,614

 

 

 

19,176

 

Less imputed interest

 

 

468

 

 

 

2,761

 

Total

 

$

7,146

 

 

$

16,415