LEASES

3 Months Ended

Mar. 31, 2024

LEASES

LEASES

14.    LEASES

The Company has operating leases for office space, manufacturing facilities and equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes.

Supplemental cash flow information related to the Company’s operating and finance leases for the three months ended March 31, 2024 and 2023 was as follows:

	March 31,
	2024		2023
Cash paid for operating leases	$	1,601	$	1,407
Cash paid for interest on finance lease obligations	$	103	$	108
Assets acquired under operating leases	$	175	$	1,591
Operating lease assets obtained in acquisitions	$	378	$	—

The Company’s finance lease obligations relate to a manufacturing facility. Finance lease assets of $8,050 and $8,208 as of March 31, 2024 and December 31, 2023, respectively, are included in property, plant and equipment, net. As of March 31, 2024, finance lease obligations of $420 are included in accrued liabilities and $8,497 are included in long-term debt on the condensed consolidated balance sheet. As of December 31, 2023, finance lease obligations of $412 are included in accrued liabilities and $8,607 are included in long-term debt on the condensed consolidated balance sheet.

The following table presents the maturity of the Company’s operating and finance lease liabilities as of March 31, 2024:

	Operating Leases		Finance Leases
Remainder of 2024	$	4,606	$	611
2025		5,077		831
2026		4,442		848
2027		3,737		867
2028		2,817		886
Thereafter		5,785		7,884
Total undiscounted cash flows	$	26,464	$	11,927
Less: present value discount		(2,868)		(3,010)
Total lease liabilities	$	23,596	$	8,917

The Company has operating leases for certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $237 and $385 during the three months ended March 31, 2024 and 2023, respectively, and is obligated to make payments of $669 during the remainder of 2024. Future fixed minimum lease payments under these leases as of March 31, 2024 are $6,064.