Leases |
Leases Lease Costs
The components of lease expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30 | | Six Months Ended June 30 | | 2025 | | 2024 | | 2025 | | 2024 | | (thousands) | Operating lease cost | $ | 3,605 | | | $ | 3,493 | | | $ | 7,021 | | | $ | 6,968 | | Finance lease cost | | | | | | | | Amortization of right-of-use assets | 545 | | | 624 | | | 1,145 | | | 1,241 | | Interest on lease liabilities | 493 | | | 542 | | | 996 | | | 1,083 | | Variable lease cost | 1,414 | | | 1,584 | | | 2,906 | | | 3,161 | | Short-term lease cost | 1,592 | | | 1,350 | | | 3,285 | | | 2,814 | | Sublease income | (64) | | | (32) | | | (117) | | | (79) | | Total lease cost | $ | 7,585 | | | $ | 7,561 | | | $ | 15,236 | | | $ | 15,188 | |
Other Information
Supplemental cash flow information related to leases was as follows: | | | | | | | | | | | | | | Six Months Ended June 30 | | | 2025 | | 2024 | | | (thousands) | | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows from operating leases | $ | 6,797 | | | $ | 6,470 | | | Operating cash flows from finance leases | 995 | | | 1,065 | | | Financing cash flows from finance leases | 943 | | | 952 | | | Right-of-use assets obtained in exchange for lease obligations | | | | | Operating leases | 8,885 | | | 1,955 | | | Finance leases | — | | | 803 | | |
Other information related to leases was as follows: | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | | | | | | | | | | | Weighted-average remaining lease term (years) | | | | | | | | Operating leases | 7 | | 7 | | | | | Finance leases | 12 | | 13 | | | | | Weighted-average discount rate | | | | | | | | Operating leases | 5.9 | % | | 5.9 | % | | | | | Finance leases | 8.6 | % | | 7.5 | % | | | | |
As of June 30, 2025, our minimum lease payment requirements for noncancelable operating and finance leases are as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | | (thousands) | Remainder of 2025 | | $ | 7,192 | | | $ | 1,203 | | 2026 | | 11,793 | | | 2,417 | | 2027 | | 11,238 | | | 2,462 | | 2028 | | 8,883 | | | 2,293 | | 2029 | | 8,158 | | | 2,252 | | Thereafter | | 23,244 | | | 17,087 | | Total future minimum lease payments | | 70,508 | | | 27,714 | | Less: interest | | (13,341) | | | (10,510) | | Total lease obligations | | 57,167 | | | 17,204 | | Less: current obligations | | (10,320) | | | (1,024) | | Long-term lease obligations | | $ | 46,847 | | | $ | 16,180 | |
As of June 30, 2025, the undiscounted future lease payments for additional leases that have not yet commenced was approximately $9 million. This lease is expected to commence in 2025 with a lease term of approximately 9 years.
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Leases |
Leases Lease Costs
The components of lease expense were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30 | | Six Months Ended June 30 | | 2025 | | 2024 | | 2025 | | 2024 | | (thousands) | Operating lease cost | $ | 3,605 | | | $ | 3,493 | | | $ | 7,021 | | | $ | 6,968 | | Finance lease cost | | | | | | | | Amortization of right-of-use assets | 545 | | | 624 | | | 1,145 | | | 1,241 | | Interest on lease liabilities | 493 | | | 542 | | | 996 | | | 1,083 | | Variable lease cost | 1,414 | | | 1,584 | | | 2,906 | | | 3,161 | | Short-term lease cost | 1,592 | | | 1,350 | | | 3,285 | | | 2,814 | | Sublease income | (64) | | | (32) | | | (117) | | | (79) | | Total lease cost | $ | 7,585 | | | $ | 7,561 | | | $ | 15,236 | | | $ | 15,188 | |
Other Information
Supplemental cash flow information related to leases was as follows: | | | | | | | | | | | | | | Six Months Ended June 30 | | | 2025 | | 2024 | | | (thousands) | | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows from operating leases | $ | 6,797 | | | $ | 6,470 | | | Operating cash flows from finance leases | 995 | | | 1,065 | | | Financing cash flows from finance leases | 943 | | | 952 | | | Right-of-use assets obtained in exchange for lease obligations | | | | | Operating leases | 8,885 | | | 1,955 | | | Finance leases | — | | | 803 | | |
Other information related to leases was as follows: | | | | | | | | | | | | | | | | | | | June 30, 2025 | | December 31, 2024 | | | | | | | | | | | | | Weighted-average remaining lease term (years) | | | | | | | | Operating leases | 7 | | 7 | | | | | Finance leases | 12 | | 13 | | | | | Weighted-average discount rate | | | | | | | | Operating leases | 5.9 | % | | 5.9 | % | | | | | Finance leases | 8.6 | % | | 7.5 | % | | | | |
As of June 30, 2025, our minimum lease payment requirements for noncancelable operating and finance leases are as follows: | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | | (thousands) | Remainder of 2025 | | $ | 7,192 | | | $ | 1,203 | | 2026 | | 11,793 | | | 2,417 | | 2027 | | 11,238 | | | 2,462 | | 2028 | | 8,883 | | | 2,293 | | 2029 | | 8,158 | | | 2,252 | | Thereafter | | 23,244 | | | 17,087 | | Total future minimum lease payments | | 70,508 | | | 27,714 | | Less: interest | | (13,341) | | | (10,510) | | Total lease obligations | | 57,167 | | | 17,204 | | Less: current obligations | | (10,320) | | | (1,024) | | Long-term lease obligations | | $ | 46,847 | | | $ | 16,180 | |
As of June 30, 2025, the undiscounted future lease payments for additional leases that have not yet commenced was approximately $9 million. This lease is expected to commence in 2025 with a lease term of approximately 9 years.
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