Leases (Tables)

12 Months Ended

Dec. 31, 2023

The following table presents components of lease expense for the years ended December 31, 2023 and 2022:


	For the year ended December 31,
(in thousands)	2023		2022
Operating lease expense	$	14,416	$	15,278
Short-term lease expense(a)	54,451		57,713
	68,867		72,991
Less: Sublease income	788		766
Total lease expense	$	68,079	$	72,225

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(a)Short-term lease expense includes all leases with lease terms ranging from less than one month to one year. Short-term leases include, among other things, construction equipment rented on an as-needed basis as well as temporary housing.

Schedule of Supplemental Financial Statement Information Related to Leases

The following table presents supplemental balance sheet information related to operating leases:


		As of December 31,
(dollars in thousands)	Balance Sheet Line Item	2023			2022
Assets
ROU assets	Other assets	$	48,878		$	50,825
Total lease assets		$	48,878		$	50,825
Liabilities
Current lease liabilities	Accrued expenses and other current liabilities	$	6,275		$	6,709
Long-term lease liabilities	Other long-term liabilities	47,781			49,176
Total lease liabilities		$	54,056		$	55,885
Weighted-average remaining lease term		10.3 years			11.0 years
Weighted-average discount rate		12.13		%	11.77		%

The following table presents supplemental cash flow information and non-cash activity related to operating leases:


	As of December 31,
(in thousands)	2023		2022
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	(14,733)	$	(14,247)
Non-cash activity:
ROU assets obtained in exchange for lease liabilities	$	6,465	$	16,349

Schedule of Maturity of Operating Lease Liabilities on an Undiscounted Basis

The following table presents maturities of operating lease liabilities on an undiscounted basis as of December 31, 2023:


Year (in thousands)	Operating Leases
2024	$	11,975
2025	10,622
2026	8,785
2027	7,349
2028	7,229
Thereafter	51,213
Total lease payments	97,173
Less: Imputed interest	43,117
Total	$	54,056