Summary of Lease Expenses |
The components of lease expense are as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2023 | | 2022 | | 2023 | | 2022 | Operating lease cost | $ | 5,577 | | | $ | 5,211 | | | $ | 16,041 | | | $ | 12,120 | | Short-term lease cost | $ | 4,512 | | | $ | 4,455 | | | $ | 12,637 | | | $ | 10,764 | | | | | | | | | | Finance lease cost: | | | | | | | | Amortization of right-of-use assets | $ | 56 | | | $ | 35 | | | $ | 129 | | | $ | 112 | | Interest on lease liabilities | 9 | | | 3 | | | 13 | | | 10 | | Total finance lease cost | $ | 65 | | | $ | 38 | | | $ | 142 | | | $ | 122 | |
Supplemental cash flow information related to leases is as follows: | | | | | | | | | | | | | | | Nine Months Ended September 30, | | | Cash paid for amounts included in the measurement of lease liabilities: | 2023 | | 2022 | | | | | | | | | Operating cash flows from operating leases | $ | 15,300 | | | $ | 12,079 | | | | Operating cash flows from finance leases | $ | 13 | | | $ | 10 | | | | Financing cash flows from finance leases | $ | 129 | | | $ | 112 | | | | | | | | | | Right-of-use assets obtained in exchange for lease obligations (non-cash): | | | | | | Operating leases | $ | 13,102 | | | $ | 53,385 | | | | Finance leases | $ | 664 | | | $ | — | | | |
Supplemental balance sheet information related to leases is as follows: | | | | | | | | | | | | | | | | Operating Leases | September 30, 2023 | | December 31, 2022 | Operating lease right-of-use assets | $ | 58,492 | | | $ | 59,415 | | | | | | Current portion of long-term lease obligations | $ | 18,403 | | | $ | 19,715 | | Long-term lease obligations | 40,204 | | | 40,103 | | Total operating lease liabilities | $ | 58,607 | | | $ | 59,818 | | Finance Leases | | | | Property and equipment, at cost | $ | 2,011 | | | $ | 1,479 | | Accumulated depreciation | (1,179) | | | (1,056) | | Property and equipment, net | $ | 832 | | | $ | 423 | | | | | | Current maturities of long-term debt | $ | 230 | | | $ | 148 | | Long-term debt | 529 | | | 76 | | Total finance lease liabilities | $ | 759 | | | $ | 224 | | Weighted Average Remaining Lease Term | | | | Operating leases | 3.9 | | 4.5 | Finance leases | 4.2 | | 1.5 | Weighted Average Discount Rate | | | | Operating leases | 5.7 | % | | 5.6 | % | Finance leases | 6.5 | % | | 4.3 | % |
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Summary of Maturities of Lease Liabilities, Operating Leases |
Maturities of lease liabilities are as follows: | | | | | | | | | | | | Year Ending December 31, | Operating Leases | | Finance Leases | | | | | 2023 (excluding the nine months ended September 30, 2023) | $ | 5,418 | | | $ | 78 | | 2024 | 20,747 | | | 235 | | 2025 | 18,148 | | | 157 | | 2026 | 11,794 | | | 157 | | 2027 | 2,892 | | | 157 | | 2028 | 4,567 | | | 92 | | Thereafter | 1,824 | | | — | | Total lease payments | $ | 65,390 | | | $ | 876 | | Less imputed interest | (6,783) | | | (117) | | Total | $ | 58,607 | | | $ | 759 | |
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Summary of Maturities of Lease Liabilities, Finance Leases |
Maturities of lease liabilities are as follows: | | | | | | | | | | | | Year Ending December 31, | Operating Leases | | Finance Leases | | | | | 2023 (excluding the nine months ended September 30, 2023) | $ | 5,418 | | | $ | 78 | | 2024 | 20,747 | | | 235 | | 2025 | 18,148 | | | 157 | | 2026 | 11,794 | | | 157 | | 2027 | 2,892 | | | 157 | | 2028 | 4,567 | | | 92 | | Thereafter | 1,824 | | | — | | Total lease payments | $ | 65,390 | | | $ | 876 | | Less imputed interest | (6,783) | | | (117) | | Total | $ | 58,607 | | | $ | 759 | |
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