v3.25.4
LEASING
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
LEASING

9. LEASING

 

Our leasing activities primarily consist of operating leases for administrative offices, manufacturing facilities, research centers, service centers, sales offices and certain equipment.

 

The following table presents components of lease expense (in US$ thousands) which is recorded within Cost of Services in the Consolidated Statement of Operations:

 

   Year ended   Year ended   Year ended 
   December 31, 2025   December 31, 2024  

December 31, 2023

 
Components of lease expense:               
Finance lease cost:               
Amortization of right-of-use assets  $

3,465

   $3,878   $3,290 
Interest on lease liabilities   219    450    166 
Operating lease cost   

6,792

    7,515    8,715 
Short-term lease (1)   

206,199

    174,542    146,206 
Sublease income   -    -    (24)
Total lease expense  $

216,675

   $186,385   $158,353 

 

(1)   Leases with a term of one year or less, including leases with a term of one month or less.

 

Amounts recognized in the Consolidated Balance Sheet (in US$ thousands):

 

  

As of
December 31, 2025

  

As of
December 31, 2024

 
Components of balance sheet:          
Operating leases:          
Operating lease right-of-use assets (non-current)  $

20,300

    26,042 
Current portion of operating lease liabilities   

2,948

    5,449 
Operating lease liabilities (non-current)   

18,447

    20,843 
Finance leases:          
Property, plant and equipment, net (non-current)  $

6,154

    9,244 
Other current liabilities   

1,755

    5,336 
Other liabilities (not current)   

269

    - 

 

   Year ended   Year ended   Year ended 
   December 31, 2025   December 31, 2024   December 31, 2023 
Other supplemental information (in US$ thousands except percentages):               
Cash paid for amounts included in the measurement of lease liabilities:               
Operating cash flows used by operating leases  $

6,469

   $6,926   $8,317 
Operating cash flows used by finance leases   

219

    450    166 
Financing cash flows used by finance leases   

3,905

    3,193    2,403 
Noncash investing and financing activities:               
Modifications of right-of-use assets obtained in exchange for lease obligations during the year ended:               
Operating leases    (153)   (157)   2,360 
Finance leases   -    -    - 
Right-of-use assets obtained in exchange for lease obligations during the year ended:               
Operating leases   -    1,679    5,855 
Finance leases   

374

    1,126    7,679 
Weighted-average remaining lease term:               
Operating leases   16.80 years    14.70 years    12.84 years  
Finance leases   4.32 years    0.92 years    2.68 years  
Weighted-average discount rate for operating leases               
Operating leases   8.29%   7.90%   7.60%
Finance leases   7.49%   7.12%   7.07%

 

Maturities of our lease liabilities are as follows (in US$ thousands):

 

   As of   As of 
   December 31, 2025   December 31, 2024 
   Operating Leases   Finance Leases   Operating Leases   Finance Leases 
Year:                    
2025  $-   $-   $6,148   $5,567 
2026   3,482    1,778    3,503    - 
2027   2,700    93    3,110    - 
2028   2,669    93    3,035    - 
2029   2,576    93    2,449    - 
2030   2,391    23    -    - 
Thereafter   29,044    -    31,300    - 
Total lease payments   42,862    2,080    49,545    5,567 
Less: imputed interest   (21,467)   (56)   (23,253)   (231)
Total  $21,395   $2,024   $26,292   $5,336