Leases

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

NOTE 11 – Leases

The Company leases certain assets used in its business, including land, buildings and equipment. These leased assets are used for operational and administrative purposes.

The components of lease expense are set forth in the table below:

	Three Months Ended
	March 31,
	2023		2022
Operating lease expense	$	3,273	$	3,510
Finance lease expense:
Amortization of assets		7		3
Interest on lease liabilities		1		–
Short-term lease expense		178		270
Variable lease expense		1,031		975
Total lease expense	$	4,490	$	4,758

The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion:

	March 31, 2023			December 31, 2022
Operating leases:
Operating lease ROU assets	$	56,829		$	43,907
Current operating lease liabilities		9,473			7,390
Noncurrent operating lease liabilities		32,127			20,765
Total operating lease liabilities	$	41,600		$	28,155
Finance leases:
Finance lease ROU assets	$	2,611		$	2,618
Accumulated amortization		(2,541	)		(2,542	)
Finance lease ROU assets, net	$	70		$	76
Current finance lease liabilities	$	30		$	30
Non-current finance lease liabilities		41			46
Total finance lease liabilities	$	71		$	76
Weighted average remaining lease term (in years):
Operating leases		7.7			8.2
Finance leases		2.4			2.6
Weighted average discount rate:
Operating leases		4.1	%		4.2	%
Finance leases		3.6	%		3.6	%

The table below sets forth supplemental cash flow and other information related to leases:

	Three Months Ended
	March 31, 2023		March 31, 2022
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$	3,871	$	4,575
Operating cash outflows from finance leases		1		–
Financing cash outflow from finance leases		7		61
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases		12,616		1,541

The table below sets forth information about lease liability maturities:

	March 31, 2023
	Operating Leases			Finance Leases
2023	$	8,642		$	24
2024		8,940			29
2025		7,764			19
2026		6,315			2
2027		4,021			-
2028		1,902			-
2029 and thereafter		11,824			-
Total lease payments		49,408			74
Less: imputed interest		(7,808	)		(3	)
Total lease obligations		41,600			71
Less: current obligations		(9,473	)		(30	)
Long-term lease obligations	$	32,127		$	41