Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Summary of Operating Lease Information
The table below summarizes the Company’s operating lease portfolio related to continuing operations (in thousands). Refer to Note 2 - Summary of Significant Accounting Policies for additional information on our accounting policies related to leases.
December 31, 2023 December 31, 2022
Right-of-use assets $ 23,399 $ 27,933
Lease liabilities 31,250 34,391
Weighted average remaining lease term (in years) 8.54 9.29
Weighted average discount rate 6.46  % 6.50  %
Summary of Lease Cost and Other Information
The table below summarizes the Company’s net operating lease cost related to continuing operations (in thousands):
For the year ended December 31, 2023 For the year ended December 31, 2022
Operating lease cost $ 6,777  $ 6,230 
Short-term lease cost 607  612 
  Total operating and short-term lease cost 7,384  6,842 
Variable lease cost 694  991 
Sublease income (546) (859)
Net lease cost $ 7,532  $ 6,974 

The table below summarizes other information related to the Company’s operating leases in continuing operations (in thousands):
For the year ended December 31, 2023 For the year ended December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 6,297  $ 4,856 
Leased assets obtained in exchange for new operating lease liabilities 388  7,400 
Maturity Analysis of Operating Leases
The following table presents a maturity analysis of operating leases and a reconciliation of the undiscounted cash flows to lease liabilities as of December 31, 2023 (in thousands):
2024 $ 5,929 
2025 4,936 
2026 4,778 
2027 4,473 
2028 3,396 
Thereafter 18,140 
Total undiscounted lease payments 41,652 
Less: amounts representing interest (10,402)
Total lease liabilities $ 31,250