LEASES (Tables)

12 Months Ended

Dec. 31, 2023

The remaining future cash payments related to the aggregate financing liabilities for each year ending December 31 are as follows:


2024	$	3,800
2025	1,137
2026	1,122
2027	782
2028	800
Thereafter	13,331
Total minimum liability requirements	$	20,972
Imputed interest	(8,151)
Total	$	12,821

Future minimum lease payments required under non-cancellable leases as of December 31, 2023 are as follows:

The components of lease expense included in the Consolidated Statements of Operations are as follows:


		Year ended December 31,
(in thousands)	Classification		2023		2022		2021
Operating lease expense:
Operating lease expense	Selling, general and administrative expenses		$	6,726	7,103		$	4,936
Operating lease expense	Cost of operations		—		—		1,077
Short-term lease expense	Selling, general and administrative expenses		2,350		3,496		3,513
Variable lease expense (1)	Selling, general and administrative expenses		354		150		422
Total operating lease expense			$	9,430	$	10,749	$	9,948

Finance lease expense:
Amortization of right-of-use assets	Cost of operations		$	2,082	$	3,527	$	3,510
Interest on lease liabilities	Interest expense		2,235		2,372		2,502
Total finance lease expense			$	4,317	$	5,899	$	6,012

Sublease income (2)	Other – net		$	—	$	(72)	$	(86)
Net lease cost			$	13,747	$	16,576	$	15,874

(1) Variable lease expense primarily consists of common area maintenance expenses paid directly to lessors of real estate leases.

(2) Sublease income excludes rental income from owned properties, which is not material.

Other information related to leases is as follows:


	Year ended December 31,
(in thousands)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows - operating leases	$	6,467	$	6,725	$	5,580
Operating cash flows - finance leases	2,235		2,371		2,502
Financing cash flows - finance leases	1,195		2,435		2,366


(in thousands)	December 31, 2023			December 31, 2022
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	3,166		3,140
Finance leases	$	103		$	—

Weighted-average remaining lease term:
Operating leases (in years)	12.2			13.2
Finance leases (in years)	11.0			12.0
Weighted-average discount rate:
Operating leases	8.3		%	8.3		%
Finance leases	8.0		%	8.0		%

Amounts relating to leases are presented in the Consolidated Balance Sheets in the following line items:


(in thousands)
Assets:	Classification	December 31, 2023		December 31, 2022
Operating lease assets	Right-of-use assets	$	28,192	$	28,362
Finance lease assets	Net property, plant and equipment and finance leases	22,378		24,352
Total non-current lease assets		$	50,570	$	52,714

Liabilities:
Current
Operating lease liabilities	Operating lease liabilities	$	3,932	$	3,498
Finance lease liabilities	Financing lease liabilities	1,367		1,180
Non-current
Operating lease liabilities	Non-current operating lease liabilities	25,350		25,588
Finance lease liabilities	Non-current finance lease liabilities	26,206		27,482
Total lease liabilities		$	56,855	$	57,748

Future minimum lease payments required under non-cancellable leases as of December 31, 2023 are as follows: