Leases

9 Months Ended

Sep. 30, 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				Nine Months Ended
	September 30,				September 30,
	2023		2022		2023		2022
Operating lease expense	$	3,184	$	3,265	$	9,788	$	10,124
Finance lease expense:
Amortization of assets		9		4		24		9
Interest on lease liabilities		1		–		2		–
Short-term lease expense		583		231		1,288		757
Variable lease expense		1,134		855		3,215		2,692
Total lease expense	$	4,911	$	4,355	$	14,317	$	13,582

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:

	September 30, 2023			December 31, 2022
Operating leases:
Operating lease ROU assets	$	51,805		$	43,907
Current operating lease liabilities		8,498			7,390
Noncurrent operating lease liabilities		27,942			20,765
Total operating lease liabilities	$	36,440		$	28,155
Finance leases:
Finance lease ROU assets	$	2,625		$	2,618
Accumulated amortization		(2,559	)		(2,542	)
Finance lease ROU assets, net	$	66		$	76
Current finance lease liabilities	$	35		$	30
Non-current finance lease liabilities		31			46
Total finance lease liabilities	$	66		$	76
Weighted average remaining lease term (in years):
Operating leases		7.7			8.2
Finance leases		2.0			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:

	Nine Months Ended
	September 30, 2023		September 30, 2022
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$	14,295	$	14,104
Operating cash outflows from finance leases		2		–
Financing cash outflow from finance leases		34		61
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases		13,360		6,845

The table below sets forth information about lease liability maturities:

	September 30, 2023
	Operating Leases			Finance Leases
2023	$	2,745		$	9
2024		9,304			36
2025		7,965			21
2026		6,208			2
2027		3,868			-
2028		1,854			-
2029 and thereafter		11,260			-
Total lease payments		43,204			68
Less: imputed interest		(6,764	)		(2	)
Total lease obligations		36,440			66
Less: current obligations		(8,498	)		(35	)
Long-term lease obligations	$	27,942		$	31