Leases (Tables)
|
12 Months Ended |
Dec. 31, 2024 |
|---|
| Leases [Abstract] |
|
| Schedule of Lease Cost |
Accordingly, the Company recognizes a right-of-use (“ROU”) asset representing the right to use an underlying asset and a lease liability representing the obligation to make lease payments over the lease term for substantially all leases with a lease term greater than 12 months.
|
|
|
2024
|
|
2023
|
|
2022
|
|
Successor
July 30 to
December 31
|
|
Predecessor
January 1 to
July 29
|
|
Predecessor
January 1 to
December 31
|
|
Predecessor
January 1 to
December 31
|
|
Operating lease cost
|
|
$
|
3,667 |
|
$
|
5,736 |
|
$
|
8,813 |
|
$
|
7,308 |
|
Finance lease cost – amortization of right-of-use assets
|
|
|
4,118 |
|
|
6,010 |
|
|
10,298 |
|
|
7,715 |
|
Finance lease cost – Interest on lease liabilities
|
|
|
799 |
|
|
1,005 |
|
|
1,523 |
|
|
836 |
|
Short term lease expense
|
|
|
1,171 |
|
|
202 |
|
|
—
|
|
|
—
|
|
Variable lease cost
|
|
|
731 |
|
|
1,063 |
|
|
4 |
|
|
8 |
|
Total lease cost
|
|
$
|
10,486 |
|
$
|
14,016 |
|
$
|
20,638 |
|
$
|
15,867 |
|
| Schedule of Supplemental Cash Flow Information Related to Lease |
Supplemental cash flow information related to lease is as follows:
|
|
|
2024
|
|
2023
|
|
2022
|
|
Successor
July 30 to
December 31
|
|
Predecessor
January 1 to
July 29
|
|
Predecessor
January 1 to
December 31
|
|
Predecessor
January 1 to
December 31
|
|
Cash paid for amounts included in measurement of lease liabilities:
|
|
|
|
|
|
|
|
|
|
Operating cash outflows – payments on operating leases
|
|
3,429 |
|
5,990 |
|
9,284 |
|
5,672 |
|
Operating cash outflows – interest payments on finance leases
|
|
799 |
|
1,005 |
|
1,523 |
|
836 |
|
Financing cash outflows – principal payments on finance leases
|
|
3,906 |
|
5,745 |
|
9,948 |
|
7,424 |
| |
|
|
|
|
|
|
|
|
|
Right-of-use assets obtained in exchange for new lease obligations:
|
|
|
|
|
|
|
|
|
|
Operating leases
|
|
5,575 |
|
6,748 |
|
6,949 |
|
12,400 |
|
Finance leases
|
|
4,673 |
|
5,988 |
|
11,049 |
|
19,878 |
|
| Schedule of Supplemental Balance Sheet Information |
Supplemental balance sheet information related to leases is as follows:
| | | Successor
December 31,
2024 | | Predecessor
December 31,
2023 | | Operating Leases | | | | | | | | | | Operating lease right-of-use assets, net | | $ | 30,001 | | | $ | 22,441 | | | | | | | | | | | | | Current portion of operating lease obligations | | | 7,204 | | | | 7,498 | | | Non-current operating lease obligations | | | 21,838 | | | | 17,773 | | | Total operating lease liabilities | | $ | 29,042 | | | $ | 25,271 | | | | | | | | | | | | | Finance Leases | | | | | | | | | | Equipment, net | | $ | 28,532 | | | $ | 28,655 | | | | | | | | | | | | | Current portion of finance lease obligations | | | 9,824 | | | | 9,125 | | | Non-current finance lease obligations | | | 18,915 | | | | 20,288 | | | Total finance lease liabilities | | $ | 28,739 | | | $ | 29,413 | | | | | | | | | | | | | Weighted-average remaining lease term (years): | | | | | | | | | | Operating leases | | | 5.45 | | | | 5.25 | | | Finance leases | | | 3.26 | | | | 3.41 | | | | | | | | | | | | | Weighted-average discount rate: | | | | | | | | | | Operating leases | | | 7.32 | % | | | 6.21 | % | | Finance leases | | | 6.78 | % | | | 5.89 | % |
|
| Schedule of Reconciliation to the Lease Liabilities |
Future undiscounted cash flows for each of the next five years and thereafter and reconciliation to the lease liabilities recognized on the consolidated balance sheets is as follows:
|
Year Ending December 31,
|
|
Operating
Leases
|
|
Finance
Leases
|
|
2025
|
|
$
|
9,034 |
|
|
$
|
11,384 |
|
|
2026
|
|
|
7,503 |
|
|
|
9,507 |
|
|
2027
|
|
|
5,462 |
|
|
|
6,411 |
|
|
2028
|
|
|
3,528 |
|
|
|
3,323 |
|
|
2029
|
|
|
2,678 |
|
|
|
1,245 |
|
|
Thereafter
|
|
|
7,298 |
|
|
|
—
|
|
|
Total lease payments
|
|
$
|
35,503 |
|
|
$
|
31,870 |
|
|
Less imputed interest
|
|
|
(6,461 |
)
|
|
|
(3,131 |
)
|
|
Total present value of lease liabilities
|
|
$
|
29,042 |
|
|
$
|
28,739 |
|
|