Note 9 - Leases

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Lessee, Lease, Disclosure [Text Block]

9. LEASES:

The following table summarizes the Company’s leases recorded on the Consolidated Balance Sheets (in thousands):

	December 31,
	2022		2021
Right-of-use assets:
Finance leases, net, included in Property and equipment (1)	$	2,618	$	1,730
Operating leases		93,124		98,507
Total right-of-use assets	$	95,742	$	100,237
Lease liabilities:
Finance leases	$	3,037	$	2,169
Operating leases		94,174		98,429
Total lease liabilities	$	97,211	$	100,598

(1) Finance lease right-of-use assets are presented net of accumulated amortization of $1.2 million and $1.1 million as of December 31, 2022 and 2021, respectively.

Lease cost consists of the following (in thousands):

	Year Ended December 31,
	2022		2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	577	$	413	$	422
Interest on lease liabilities		148		90		79
Operating lease cost		7,770		4,627		3,647
Short-term lease cost		1,000		993		745
Variable lease cost		251		158		199
Total lease cost	$	9,746	$	6,281	$	5,092

The future maturities of lease liabilities as of December 31, 2022 are as follows (in thousands):

	Finance Leases			Operating Leases
2023	$	654		$	6,710
2024		968			6,538
2025		725			6,565
2026		666			6,465
2027		434			6,187
Thereafter		-			82,759
Total lease payments		3,447			115,224
Amount representing interest		(410	)		(21,050	)
Present value of lease liabilities		3,037			94,174
Current portion of lease liabilities (1)		(502	)		(4,702	)
Long-term lease liabilities (2)	$	2,535		$	89,472

(1) Current portion of finance lease liabilities are included in Accrued liabilities.

(2) Long-term finance lease liabilities, less current portion are included in Other long-term liabilities.

The following table summarizes the lease terms and discount rates for the lease liabilities:

	December 31,
	2022			2021
Weighted-average remaining lease term (years)
Finance leases		3.52			3.56
Operating leases		17.83			18.42
Weighted-average discount rate
Finance leases		5.44	%		5.10	%
Operating leases		2.19	%		2.18	%

The following table presents other information related to the operating and finance leases (in thousands):

	Year Ended December 31,
	2022			2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	(148	)	$	(90	)	$	(79	)
Operating cash flows from operating leases		(6,818	)		(4,142	)		(3,481	)
Financing cash flows from finance leases		(597	)		(415	)		(420	)
Right-of-use assets obtained in exchange for finance lease liabilities		1,466			853			507
Right-of-use assets obtained in exchange for operating lease liabilities		568			16,043			4,471