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LEASES (Tables)

6 Months Ended

Jun. 30, 2023

Leased assets and liabilities included within the Condensed Consolidated Balance Sheets consist of the following (in thousands):


	Classification	June 30, 2023		December 31, 2022
Right-of-Use Assets
Operating	Other assets	$	26,130	$	23,003


Liabilities
Current
Operating	Other accrued liabilities	$	6,897	$	6,120

Noncurrent
Operating	Other non-current liabilities	19,233		16,883

Total lease liabilities		$	26,130	$	23,003

Lease, Cost

Lease costs included in the Condensed Consolidated Statements of Operations consist of the following (in thousands):


	Classification	Three Months Ended June 30, 2023		Three Months Ended June 30, 2022
Operating lease cost	Cost of sales, selling expenses and general and administrative expense	$	2,128	$	1,209
Finance lease cost
Amortization of ROU leased assets	Depreciation and amortization within Cost of sales	—		—
Interest on lease liabilities	Interest expense	—		—
Net lease cost		$	2,128	$	1,209

	Classification	Six Months Ended June 30, 2023		Six Months Ended June 30, 2022
Operating lease cost	Cost of sales, selling expenses and general and administrative expense	$	4,085	$	2,318
Finance lease cost
Amortization of ROU leased assets	Depreciation and amortization within Cost of sales	—		36
Interest on lease liabilities	Interest expense	—		1
Net lease cost		$	4,085	$	2,355

Remaining lease term and discount rates are as follows:


	June 30, 2023		December 31, 2022
Weighted average remaining lease term (years)
Operating leases	4.2		4.3

Weighted average discount rate
Operating leases	4.95	%	4.92	%

Lease costs included in the Condensed Consolidated Statements of Cash Flows are as follows (in thousands):


	Six Months Ended June 30, 2023		Six Months Ended June 30, 2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	4,114	$	2,342
Operating cash flows from finance leases	$	—	$	1
Financing cash flows from finance leases	$	—	$	59

Operating Lease, Liability, Maturity

aturity of the Company’s lease liabilities as of June 30, 2023 is as follows (in thousands):


	Operating Leases		Finance Leases		Total
2023 (remainder)	$	4,162	$	—	$	4,162
2024	7,389		—		7,389
2025	6,260		—		6,260
2026	5,654		—		5,654
2027	3,410		—		3,410
Thereafter	2,141		—		2,141
Total lease payments	$	29,016	$	—	$	29,016
Less: interest	2,886		—
Present value of lease payments	$	26,130	$	—

Finance Lease, Liability, Maturity

aturity of the Company’s lease liabilities as of June 30, 2023 is as follows (in thousands):


	Operating Leases		Finance Leases		Total
2023 (remainder)	$	4,162	$	—	$	4,162
2024	7,389		—		7,389
2025	6,260		—		6,260
2026	5,654		—		5,654
2027	3,410		—		3,410
Thereafter	2,141		—		2,141
Total lease payments	$	29,016	$	—	$	29,016
Less: interest	2,886		—
Present value of lease payments	$	26,130	$	—

Operating Lease, Lease Income

For the three and six months ended June 30, 2023 and 2022, the Company’s lease income consisted of the following components (in thousands):


	Three Months Ended June 30, 2023		Three Months Ended June 30, 2022
Operating lease income
Fixed lease income	$	117	$	18
Variable lease income	—		—
Total lease income1	$	117	$	18

	Six Months Ended June 30, 2023		Six Months Ended June 30, 2022
Operating lease income
Fixed lease income	$	179	$	21
Variable lease income	—		—
Total lease income1	$	179	$	21

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(1) As noted above, net revenue related to subleases was insignificant for all periods presented but such revenue is included in the tables above.

Lessor, Operating Lease, Payment to be Received, Maturity

The following table shows the Company’s future contractual receipts from noncancelable operating leases for the years ended December 31 as of June 30, 2023 (in thousands):


	Operating Leases1
2023 (remainder)	$	542
2024	1,189
2025	1,177
2026	1,177
2027	1,064
Thereafter	470
Total contractual receipts	$	5,619

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(1) The future contractual receipts due under the Company’s full-service operating leases include amounts related to preventative maintenance, certain repairs as defined in the related agreements, and ad valorem taxes. Net revenue related to the Company’s subleases are also included in the table above.