Leases (Tables)
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3 Months Ended |
Mar. 31, 2024 |
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| Leases [Abstract] |
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| Schedule of Assets and Liabilities, Lessee |
The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
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March 31, 2024 |
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December 31, 2023 |
| Operating Leases: |
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| Operating lease assets |
$ |
69,348 |
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$ |
58,586 |
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| Current portions of operating lease liabilities |
$ |
14,220 |
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$ |
13,569 |
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| Long-term portions of operating lease liabilities |
50,710 |
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|
42,258 |
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| Total operating lease liabilities |
$ |
64,930 |
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$ |
55,827 |
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| Weighted-average remaining lease term |
19 years |
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18 years |
| Weighted-average discount rate |
6.6 |
% |
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6.6 |
% |
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| Financing Leases: |
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| Energy assets |
$ |
26,736 |
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$ |
27,262 |
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| Current portions of financing lease liabilities |
$ |
1,027 |
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$ |
871 |
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| Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs |
12,871 |
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|
13,057 |
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| Total financing lease liabilities |
$ |
13,898 |
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$ |
13,928 |
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| Weighted-average remaining lease term |
13 years |
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13 years |
| Weighted-average discount rate |
12.05 |
% |
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12.05 |
% |
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| Schedule of Other Lease Cost Details |
The costs related to our leases were as follows:
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Three Months Ended March 31, |
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2024 |
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2023 |
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| Operating Leases: |
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| Operating lease costs |
$ |
3,056 |
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$ |
2,120 |
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| Financing Leases: |
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| Amortization expense |
526 |
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526 |
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| Interest on lease liabilities |
392 |
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444 |
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| Total lease costs |
$ |
3,974 |
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$ |
3,090 |
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Supplemental cash flow information related to our leases was as follows:
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Three Months Ended March 31, |
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2024 |
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2023 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
$ |
4,932 |
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$ |
1,852 |
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Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities (1)
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$ |
12,736 |
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$ |
1,319 |
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(1) Includes non-monetary lease transactions of $10,378. See disclosure below for additional information. |
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| Schedule of Operating Lease Liability Maturity |
The table below sets forth our estimated minimum future lease obligations under our leases:
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Operating Leases |
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Financing Leases |
| Year ended December 31, |
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| 2024 |
$ |
12,766 |
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$ |
2,207 |
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| 2025 |
12,403 |
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2,213 |
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| 2026 |
7,093 |
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2,054 |
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| 2027 |
6,006 |
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1,922 |
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| 2028 |
5,061 |
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1,955 |
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| Thereafter |
61,421 |
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|
15,935 |
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| Total minimum lease payments |
104,750 |
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|
26,286 |
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| Less: interest |
39,820 |
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|
12,388 |
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| Present value of lease liabilities |
$ |
64,930 |
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$ |
13,898 |
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| Schedule of Finance Lease Liability Maturity |
The table below sets forth our estimated minimum future lease obligations under our leases:
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Operating Leases |
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Financing Leases |
| Year ended December 31, |
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| 2024 |
$ |
12,766 |
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$ |
2,207 |
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| 2025 |
12,403 |
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2,213 |
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| 2026 |
7,093 |
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2,054 |
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| 2027 |
6,006 |
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1,922 |
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| 2028 |
5,061 |
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1,955 |
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| Thereafter |
61,421 |
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15,935 |
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| Total minimum lease payments |
104,750 |
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|
26,286 |
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| Less: interest |
39,820 |
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|
12,388 |
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| Present value of lease liabilities |
$ |
64,930 |
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$ |
13,898 |
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