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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases [Abstract]  
Schedule of Components of Lease Expense
The following table presents components of lease expense for the three and six months ended June 30, 2024 and 2023:
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2024202320242023
Operating lease expense$3,202 $3,387 $6,522 $6,861 
Short-term lease expense(a)
13,545 12,692 25,868 26,611 
16,747 16,079 32,390 33,472 
Less: Sublease income203 198 402 392 
Total lease expense$16,544 $15,881 $31,988 $33,080 
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(a)Short-term lease expense includes all leases with lease terms of up 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:
(dollars in thousands)Balance Sheet Line ItemAs of June 30,
2024
As of December 31,
2023
Assets
Right-of-use assetsOther assets$51,461 $48,878 
Total lease assets$51,461 $48,878 
Liabilities
Current lease liabilitiesAccrued expenses and other current liabilities$6,817 $6,275 
Long-term lease liabilitiesOther long-term liabilities50,107 47,781 
Total lease liabilities$56,924 $54,056 
Weighted-average remaining lease term9.7 years10.3 years
Weighted-average discount rate11.97 %12.13 %
The following table presents supplemental cash flow information and non-cash activity related to operating leases:
Six Months Ended
June 30,
(in thousands)20242023
Operating cash flow information:
Cash paid for amounts included in the measurement of lease liabilities$(6,359)$(6,807)
Non-cash activity:
Right-of-use assets obtained in exchange for lease liabilities$6,147 $807 
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 June 30, 2024:
Year (in thousands)
Operating Leases
2024 (excluding the six months ended June 30, 2024)
$6,481 
202512,044 
202610,166 
20278,750 
20288,671 
Thereafter52,663 
Total lease payments98,775 
Less: Imputed interest41,851 
Total$56,924