Leases |
Leases The following table provides the components of lease expense for the periods indicated (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | | 2023 | | 2022 | | 2023 | | 2022 | Finance lease cost: | | | | | | | | | Amortization of ROU assets | | $ | 1,933 | | | $ | 1,261 | | | $ | 3,707 | | | $ | 2,469 | | Interest on lease liabilities | | 308 | | | 78 | | | 546 | | | 158 | | Operating lease cost | | 914 | | | 676 | | | 1,793 | | | 1,349 | | Short-term lease cost | | 3,440 | | | 3,802 | | | 7,138 | | | 7,583 | | Variable lease cost | | 6 | | | 4 | | | 11 | | | 10 | | Total lease expense | | $ | 6,601 | | | $ | 5,821 | | | $ | 13,195 | | | $ | 11,569 | |
The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | Six Months Ended | | | June 30, | | | 2023 | | 2022 | Cash paid for amounts included in measurement of lease liabilities: | | | | | Operating cash flows from operating leases (1) | | $ | 1,576 | | | $ | 1,347 | | Operating cash flows from finance leases (1) | | 515 | | | 139 | | Financing cash flows from finance leases | | 3,247 | | | 2,306 | | | | | | | ROU assets obtained in exchange for new lease liabilities: | | | | | Finance leases | | 13,917 | | | 1,888 | | Operating leases | | 501 | | | 549 | |
______________ (1)Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows.
The following table provides the lease terms and discount rates for the periods indicated:
| | | | | | | | | | | | | | | | | Six Months Ended | | | June 30, | | | 2023 | | 2022 | Weighted-average remaining lease term (years): | | | | | Finance leases | | 3.67 | | 3.16 | Operating leases | | 3.17 | | 3.53 | | | | | | Weighted-average discount rate: | | | | | Finance leases | | 5.0% | | 2.5% | Operating leases | | 4.1% | | 3.7% |
The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | June 30, | | December 31, | | | 2023 | | 2022 | Assets | | | | | Finance lease ROU assets (1) | | $ | 25,663 | | | $ | 15,264 | | Operating lease ROU assets | | 6,783 | | | 7,720 | | | | | | | Liabilities | | | | | Current | | | | | Finance lease liabilities | | 6,444 | | | 4,382 | | Operating lease liabilities | | 2,802 | | | 2,712 | | Noncurrent | | | | | Finance lease liabilities | | 20,693 | | | 12,085 | | Operating lease liabilities | | 3,986 | | | 5,007 | |
______________ (1)Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
The following table provides maturities of undiscounted lease liabilities at June 30, 2023 (in thousands):
| | | | | | | | | | | | | | | | | Finance | | Operating | | | Lease | | Lease | | | | | | Remainder of 2023 | | $ | 3,962 | | | $ | 1,553 | | 2024 | | 7,277 | | | 2,826 | | 2025 | | 7,582 | | | 1,098 | | 2026 | | 4,754 | | | 904 | | 2027 | | 5,185 | | | 570 | | Thereafter | | 1,557 | | | 237 | | Total lease payments | | 30,317 | | | 7,188 | | Less: Interest | | (3,180) | | | (400) | | Present value of lease liabilities | | 27,137 | | | 6,788 | | Less: Current portion of lease obligation | | (6,444) | | | (2,802) | | Total long-term lease obligation | | $ | 20,693 | | | $ | 3,986 | |
The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | Finance | | Operating | | | Lease | | Lease | | | | | | 2023 | | $ | 4,870 | | | $ | 2,958 | | 2024 | | 3,629 | | | 2,617 | | 2025 | | 4,652 | | | 962 | | 2026 | | 2,482 | | | 879 | | 2027 | | 2,179 | | | 570 | | Thereafter | | — | | | 237 | | Total lease payments | | 17,812 | | | 8,223 | | Less: Interest | | (1,345) | | | (504) | | Present value of lease liabilities | | 16,467 | | | 7,719 | | Less: Current portion of lease obligation | | (4,382) | | | (2,712) | | Total long-term lease obligation | | $ | 12,085 | | | $ | 5,007 | |
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Leases |
Leases The following table provides the components of lease expense for the periods indicated (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30, | | June 30, | | | 2023 | | 2022 | | 2023 | | 2022 | Finance lease cost: | | | | | | | | | Amortization of ROU assets | | $ | 1,933 | | | $ | 1,261 | | | $ | 3,707 | | | $ | 2,469 | | Interest on lease liabilities | | 308 | | | 78 | | | 546 | | | 158 | | Operating lease cost | | 914 | | | 676 | | | 1,793 | | | 1,349 | | Short-term lease cost | | 3,440 | | | 3,802 | | | 7,138 | | | 7,583 | | Variable lease cost | | 6 | | | 4 | | | 11 | | | 10 | | Total lease expense | | $ | 6,601 | | | $ | 5,821 | | | $ | 13,195 | | | $ | 11,569 | |
The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands): | | | | | | | | | | | | | | | | | Six Months Ended | | | June 30, | | | 2023 | | 2022 | Cash paid for amounts included in measurement of lease liabilities: | | | | | Operating cash flows from operating leases (1) | | $ | 1,576 | | | $ | 1,347 | | Operating cash flows from finance leases (1) | | 515 | | | 139 | | Financing cash flows from finance leases | | 3,247 | | | 2,306 | | | | | | | ROU assets obtained in exchange for new lease liabilities: | | | | | Finance leases | | 13,917 | | | 1,888 | | Operating leases | | 501 | | | 549 | |
______________ (1)Amounts are included in Other operating activities on the unaudited condensed consolidated statements of cash flows.
The following table provides the lease terms and discount rates for the periods indicated:
| | | | | | | | | | | | | | | | | Six Months Ended | | | June 30, | | | 2023 | | 2022 | Weighted-average remaining lease term (years): | | | | | Finance leases | | 3.67 | | 3.16 | Operating leases | | 3.17 | | 3.53 | | | | | | Weighted-average discount rate: | | | | | Finance leases | | 5.0% | | 2.5% | Operating leases | | 4.1% | | 3.7% |
The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands): | | | | | | | | | | | | | | | | | June 30, | | December 31, | | | 2023 | | 2022 | Assets | | | | | Finance lease ROU assets (1) | | $ | 25,663 | | | $ | 15,264 | | Operating lease ROU assets | | 6,783 | | | 7,720 | | | | | | | Liabilities | | | | | Current | | | | | Finance lease liabilities | | 6,444 | | | 4,382 | | Operating lease liabilities | | 2,802 | | | 2,712 | | Noncurrent | | | | | Finance lease liabilities | | 20,693 | | | 12,085 | | Operating lease liabilities | | 3,986 | | | 5,007 | |
______________ (1)Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.
The following table provides maturities of undiscounted lease liabilities at June 30, 2023 (in thousands):
| | | | | | | | | | | | | | | | | Finance | | Operating | | | Lease | | Lease | | | | | | Remainder of 2023 | | $ | 3,962 | | | $ | 1,553 | | 2024 | | 7,277 | | | 2,826 | | 2025 | | 7,582 | | | 1,098 | | 2026 | | 4,754 | | | 904 | | 2027 | | 5,185 | | | 570 | | Thereafter | | 1,557 | | | 237 | | Total lease payments | | 30,317 | | | 7,188 | | Less: Interest | | (3,180) | | | (400) | | Present value of lease liabilities | | 27,137 | | | 6,788 | | Less: Current portion of lease obligation | | (6,444) | | | (2,802) | | Total long-term lease obligation | | $ | 20,693 | | | $ | 3,986 | |
The following table provides maturities of undiscounted lease liabilities at December 31, 2022 (in thousands): | | | | | | | | | | | | | | | | | Finance | | Operating | | | Lease | | Lease | | | | | | 2023 | | $ | 4,870 | | | $ | 2,958 | | 2024 | | 3,629 | | | 2,617 | | 2025 | | 4,652 | | | 962 | | 2026 | | 2,482 | | | 879 | | 2027 | | 2,179 | | | 570 | | Thereafter | | — | | | 237 | | Total lease payments | | 17,812 | | | 8,223 | | Less: Interest | | (1,345) | | | (504) | | Present value of lease liabilities | | 16,467 | | | 7,719 | | Less: Current portion of lease obligation | | (4,382) | | | (2,712) | | Total long-term lease obligation | | $ | 12,085 | | | $ | 5,007 | |
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