Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2023

Commitments and Contingencies

Schedule of Minimum Annual Rental Commitments

We have no financing leases and minimum annual rental commitments under non-cancellable operating leases consisted of the following at December 31, 2023 (in thousands):

Years Ending December 31,
2024	$	1,857
2025		1,701
2026		1,479
2027		1,290
2028		876
Thereafter		1,600
Total lease payments (a)		8,803
Less: Interest (b)		1,455
Present value of lease liabilities (c)	$	7,348

(a) Lease payments include options to extend lease terms that are reasonably certain of being exercised. There were no legally binding minimum lease payments for leases signed but not yet commenced at December 31, 2023.

(b) Our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our discount rate for such leases to determine the present value of lease payments at the lease commencement date.

(c) The weighted average remaining lease term and weighted average discount rate used in calculating our lease liabilities were 6.5 years and 5.4%, respectively, at December 31, 2023.