| Lessee, Lease, Disclosure [Text Block] |
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 |
|
|