Leases (Tables)

3 Months Ended

Mar. 31, 2024

Supplemental Balance Sheet Information about Leases of Lessee

Supplemental balance sheet information related to the Company's leases are shown below (dollars in thousands):


	Balance Sheet Location	March 31, 2024		December 31, 2023
Assets
Operating leases	Operating lease right-of-use assets	$	41,690	$	43,220
Finance leases	Property and equipment, net (a)	2,380		2,470
Total lease assets		$	44,070	$	45,690
Liabilities
Current:
Operating leases	Lease liabilities, current portion	$	7,560	$	7,410
Finance leases	Lease liabilities, current portion	470		490
Long-term:
Operating leases	Lease liabilities	36,390		37,980
Finance leases	Lease liabilities	1,560		1,710
Total lease liabilities		$	45,980	$	47,590

__________________________

(a) Finance leases were recorded net of accumulated depreciation of $0.3 million as of March 31, 2024.

Lease, Cost [Table Text Block]

The components of lease expense are as follows (dollars in thousands):


		Three months ended March 31,
	Statement of Income Location		2024		2023
Operating lease cost	Cost of sales and Selling, general and administrative expenses		$	2,280	$	2,580
Finance lease cost:
Depreciation of lease assets	Cost of sales		60		40
Interest on lease liabilities	Interest expense		10		10
Short-term, variable and other lease costs	Cost of sales and Selling, general and administrative expenses		1,090		640
Total lease cost			$	3,440	$	3,270

Lessee, Lease Liability, Maturity

Maturities of lease liabilities are as follows (dollars in thousands):


Year ended December 31,	Operating Leases(a)		Finance Leases(a)
2024 (excluding the three months ended March 31, 2024)	$	6,870	$	390
2025	8,450		520
2026	8,730		600
2027	7,520		690
2028	5,580		—
Thereafter	12,850		—
Total lease payments	50,000		2,200
Less: Imputed interest	(6,050)		(170)
Present value of lease liabilities	$	43,950	$	2,030

__________________________

(a) The maturity table excludes cash flows associated with exited lease facilities. Liabilities for exited lease facilities are included in accrued liabilities and other long-term liabilities in the accompanying consolidated balance sheet.

Supplemental Cash Flow Information Related to Leases

Other information related to the Company's leases are as follows (dollars in thousands):


	Three months ended March 31,
		2024		2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		$	2,360	$	2,590
Operating cash flows from finance leases		10		10
Financing cash flows from finance leases		120		80
Lease assets obtained in exchange for new lease liabilities:
Operating leases		870		4,780
Finance leases		—		2,620