Leases (Tables)

9 Months Ended

Sep. 30, 2023

Leases [Abstract]

Schedule of Lease, Cost

The following table provides the components of lease expense for the periods indicated (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Finance lease cost:
Amortization of ROU assets	$	1,983	$	1,306	$	5,691	$	3,775
Interest on lease liabilities	408		84		955		242
Operating lease cost	927		781		2,720		2,130
Short-term lease cost	3,529		3,752		10,668		11,335
Variable lease cost	6		6		18		16
Total lease expense	$	6,853	$	5,929	$	20,052	$	17,498

The following table provides supplemental cash flow and other information related to leases for the periods indicated (in thousands):

	Nine Months Ended
	September 30,
	2023		2022
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating leases (1)	$	2,739	$	2,112
Operating cash flows from finance leases (1)	851		238
Financing cash flows from finance leases	4,944		3,491
ROU assets obtained in exchange for new lease liabilities:
Finance leases	17,632		4,353
Operating leases	667		2,715

______________

(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:

	Nine Months Ended
	September 30,
	2023	2022
Weighted-average remaining lease term (years):
Finance leases	3.65	3.33
Operating leases	3.05	3.57
Weighted-average discount rate:
Finance leases	5.4%	2.9%
Operating leases	4.2%	3.9%

Assets and Liabilities, Lessee

The following table provides supplemental balance sheet information related to leases at the dates indicated (in thousands):

	September 30,		December 31,
	2023		2022
Assets
Finance lease ROU assets (1)	$	27,482	$	15,264
Operating lease ROU assets	6,212		7,720
Liabilities
Current
Finance lease liabilities	6,863		4,382
Operating lease liabilities	2,769		2,712
Noncurrent
Finance lease liabilities	22,292		12,085
Operating lease liabilities	3,446		5,007

______________

(1)Amounts are included in Property and equipment, net on the unaudited condensed consolidated balance sheets.

Lessee, Operating Lease, Liability, Maturity

The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands):

	Finance		Operating
	Lease		Lease
Remainder of 2023	$	2,151	$	765
2024	8,071		2,874
2025	8,376		1,146
2026	5,549		952
2027	5,981		602
Thereafter	2,685		236
Total lease payments	32,813		6,575
Less: Interest	(3,658)		(360)
Present value of lease liabilities	29,155		6,215
Less: Current portion of lease obligation	(6,863)		(2,769)
Total long-term lease obligation	$	22,292	$	3,446

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

Finance Lease, Liability, Maturity

The following table provides maturities of undiscounted lease liabilities at September 30, 2023 (in thousands):

	Finance		Operating
	Lease		Lease
Remainder of 2023	$	2,151	$	765
2024	8,071		2,874
2025	8,376		1,146
2026	5,549		952
2027	5,981		602
Thereafter	2,685		236
Total lease payments	32,813		6,575
Less: Interest	(3,658)		(360)
Present value of lease liabilities	29,155		6,215
Less: Current portion of lease obligation	(6,863)		(2,769)
Total long-term lease obligation	$	22,292	$	3,446

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