Leases (Tables)

3 Months Ended

Mar. 31, 2024

Leases

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 March 31, 2024 (in thousands):

Years Ending December 31,
2024 (a)	$	1,321
2025		1,689
2026		1,468
2027		1,277
2028		863
Thereafter		1,582
Total lease payments (b)		8,200
Less: Interest (c)		1,353
Present value of lease liabilities (d)	$	6,847

(a) Remaining payments are for the nine-months ending December 31, 2024.

(b) 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 March 31, 2024.

(c) 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.

(d) The weighted average remaining lease term and weighted average discount rate used in calculating our lease liabilities were 6.3 years and 5.5%, respectively, at March 31, 2024.