Leases (Tables)
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6 Months Ended |
Jun. 30, 2024 |
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| Leases [Abstract] |
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| Summary of Assets and Liabilities, Lessee |
The table below sets forth supplemental condensed consolidated balance sheet information related to our leases:
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June 30, 2024 |
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December 31, 2023 |
| Operating Leases: |
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| Operating lease assets |
$ |
68,194 |
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$ |
58,586 |
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| Current portions of operating lease liabilities |
$ |
13,618 |
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$ |
13,569 |
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| Long-term portions of operating lease liabilities |
48,545 |
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|
42,258 |
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| Total operating lease liabilities |
$ |
62,163 |
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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 |
$ |
26,210 |
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$ |
27,262 |
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| Current portions of financing lease liabilities |
$ |
683 |
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$ |
871 |
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| Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs |
12,749 |
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|
13,057 |
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| Total financing lease liabilities |
$ |
13,432 |
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$ |
13,928 |
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| Weighted-average remaining lease term |
12 years |
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13 years |
| Weighted-average discount rate |
12.02 |
% |
|
12.05 |
% |
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| Summary of Other Lease Cost Details |
The costs related to our leases were as follows:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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2024 |
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2023 |
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2024 |
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2023 |
| Operating Leases: |
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| Operating lease costs |
$ |
3,176 |
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$ |
2,316 |
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$ |
6,232 |
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$ |
4,436 |
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| Financing Leases: |
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| Amortization expense |
526 |
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525 |
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1,052 |
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1,051 |
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| Interest on lease liabilities |
389 |
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433 |
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|
781 |
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877 |
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| Total lease costs |
$ |
4,091 |
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$ |
3,274 |
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$ |
8,065 |
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$ |
6,364 |
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Supplemental cash flow information related to our leases was as follows:
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Six Months Ended June 30, |
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2024 |
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2023 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
$ |
9,682 |
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$ |
3,792 |
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Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities (1)
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$ |
13,573 |
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$ |
3,486 |
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(1) Includes non-monetary lease transactions of $10,378. See disclosure below for additional information. |
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| Summary 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 |
$ |
8,541 |
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$ |
1,149 |
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| 2025 |
12,674 |
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2,214 |
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| 2026 |
7,303 |
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2,054 |
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| 2027 |
6,177 |
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1,922 |
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| 2028 |
5,155 |
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1,955 |
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| Thereafter |
61,393 |
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|
15,934 |
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| Total minimum lease payments |
101,243 |
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|
25,228 |
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| Less: interest |
39,080 |
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|
11,796 |
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| Present value of lease liabilities |
$ |
62,163 |
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$ |
13,432 |
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| Summary 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 |
$ |
8,541 |
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$ |
1,149 |
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| 2025 |
12,674 |
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2,214 |
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| 2026 |
7,303 |
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2,054 |
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| 2027 |
6,177 |
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1,922 |
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| 2028 |
5,155 |
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1,955 |
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| Thereafter |
61,393 |
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|
15,934 |
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| Total minimum lease payments |
101,243 |
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|
25,228 |
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| Less: interest |
39,080 |
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|
11,796 |
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| Present value of lease liabilities |
$ |
62,163 |
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$ |
13,432 |
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