Leases

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Leases

16. Leases

Our lease portfolio consists primarily of real estate facilities for manufacturing, distribution, warehousing and office use purposes under operating leases.

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

	Years Ended December 31,
	2023		2022		2021
Operating lease expense	$	12,887	$	13,519	$	13,048
Variable lease expense		7,540		8,758		9,636
Total lease expense	$	20,427	$	22,277	$	22,684

Supplemental cash flow information related to operating leases was as follows (in thousands):

	Years Ended December 31,
	2023		2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	13,433	$	10,614	$	10,466
Right-of-use assets recognized in exchange for operating lease obligations		1,604		5,819		36,689

As of December 31, 2023, our operating leases had a weighted average remaining lease term of 7.0 years and a weighted average discount rate of 4.4%. As of December 31, 2022, our operating leases had a weighted average remaining lease term of 7.1 years and a weighted average discount rate of 4.1%.

The following table summarizes the maturity of operating lease liabilities as of December 31, 2023 (in thousands):

	Amounts
2024	$	10,201
2025		8,697
2026		6,924
2027		6,333
2028		6,092
Thereafter		18,213
Total future lease payments		56,460
Less: Imputed interest		(8,152	)
Present value of operating lease liabilities	$	48,308