v3.25.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Components of Lease Expense

The components of lease expense are set forth in the table below:

 

 

Three Months Ended

 

 

 

March 31,

 

 

 

2025

 

 

2024

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

 

3,522

 

 

$

 

3,533

 

Finance lease expense:

 

 

 

 

 

 

 

 

Amortization of assets

 

 

 

7

 

 

 

 

8

 

Interest on lease liabilities

 

 

 

1

 

 

 

 

1

 

Short-term lease expense

 

 

 

542

 

 

 

 

551

 

Variable lease expense

 

 

 

1,152

 

 

 

 

1,245

 

Total lease expense

 

$

 

5,224

 

 

$

 

5,338

 
Supplemental Balance Sheet Information Related to Leases

The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion:

 

 

March 31, 2025

 

 

December 31, 2024

 

Operating leases:

 

 

 

 

 

 

Operating lease ROU assets

 

$

52,768

 

 

$

53,749

 

 

 

 

 

 

 

 

Current operating lease liabilities

 

 

11,203

 

 

 

10,863

 

Noncurrent operating lease liabilities

 

 

27,618

 

 

 

28,648

 

Total operating lease liabilities

 

$

38,821

 

 

$

39,511

 

 

 

 

 

 

 

 

Finance leases:

 

 

 

 

 

 

Finance lease ROU assets

 

$

2,695

 

 

$

2,708

 

Accumulated amortization

 

 

(2,603

)

 

 

(2,606

)

Finance lease ROU assets, net

 

$

92

 

 

$

102

 

 

 

 

 

 

 

 

Current finance lease liabilities

 

$

33

 

 

$

40

 

Non-current finance lease liabilities

 

 

59

 

 

 

63

 

Total finance lease liabilities

 

$

92

 

 

$

103

 

 

 

 

 

 

 

 

Weighted average remaining lease term (in years):

 

 

 

 

 

 

Operating leases

 

 

6.6

 

 

 

6.6

 

Finance leases

 

 

3.3

 

 

 

3.3

 

 

 

 

 

 

 

 

Weighted average discount rate:

 

 

 

 

 

 

Operating leases

 

 

4.0

%

 

 

4.0

%

Finance leases

 

 

3.6

%

 

 

3.6

%
Supplemental Cash Flow and Other Information Related to Leases

The table below sets forth supplemental cash flow and other information related to leases:

 

 

Three Months Ended

 

 

 

March 31, 2025

 

 

March 31, 2024

 

Cash paid for the amounts included in the measurements of lease liabilities:

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

4,968

 

 

$

5,241

 

Operating cash outflows from finance leases

 

 

1

 

 

 

1

 

Financing cash outflow from finance leases

 

 

10

 

 

 

14

 

 

 

 

 

 

 

 

ROU assets obtained in exchange for lease liabilities incurred:

 

 

 

 

 

 

Operating leases

 

 

1,695

 

 

 

3,613

 

 
Schedule of Operating and Finance Lease Liability Maturities

The table below sets forth information about lease liability maturities:

 

 

March 31, 2025

 

 

 

Operating Leases

 

 

Finance Leases

 

2025

 

$

 

11,368

 

 

$

 

30

 

2026

 

 

 

10,954

 

 

 

 

24

 

2027

 

 

 

7,311

 

 

 

 

22

 

2028

 

 

 

4,406

 

 

 

 

20

 

2029

 

 

 

1,480

 

 

 

 

2

 

2030

 

 

 

1,459

 

 

 

 

-

 

2031 and thereafter

 

 

 

8,461

 

 

 

 

-

 

Total lease payments

 

 

 

45,439

 

 

 

 

98

 

Less: imputed interest

 

 

 

(6,618

)

 

 

 

(6

)

Total lease obligations

 

 

 

38,821

 

 

 

 

92

 

Less: current obligations

 

 

 

(11,203

)

 

 

 

(33

)

Long-term lease obligations

 

$

 

27,618

 

 

$

 

59