LEASES (Tables)
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9 Months Ended |
Sep. 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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September 30, 2024 |
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December 31, 2023 |
| Operating Leases: |
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| Operating lease assets |
$ |
77,609 |
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$ |
58,586 |
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| Current portions of operating lease liabilities |
$ |
12,242 |
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$ |
13,569 |
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| Long-term portions of operating lease liabilities |
58,007 |
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|
42,258 |
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| Total operating lease liabilities |
$ |
70,249 |
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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 |
$ |
25,684 |
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$ |
27,262 |
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| Current portions of financing lease liabilities |
$ |
766 |
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$ |
871 |
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| Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs |
12,655 |
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|
13,057 |
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| Total financing lease liabilities |
$ |
13,421 |
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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 September 30, |
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Nine Months Ended September 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 |
$ |
3,358 |
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$ |
2,692 |
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$ |
9,590 |
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$ |
7,128 |
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| Financing Leases: |
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| Amortization expense |
526 |
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526 |
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1,578 |
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1,577 |
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| Interest on lease liabilities |
495 |
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485 |
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1,276 |
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1,362 |
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| Total lease costs |
$ |
4,379 |
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$ |
3,703 |
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$ |
12,444 |
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$ |
10,067 |
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Supplemental cash flow information related to our leases was as follows:
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Nine Months Ended September 30, |
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2024 |
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2023 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
$ |
13,530 |
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$ |
5,975 |
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Right-of-use assets (“ROU”) obtained in exchange for new operating lease liabilities (1)
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$ |
24,810 |
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$ |
19,255 |
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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 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 |
$ |
4,536 |
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$ |
1,121 |
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| 2025 |
14,123 |
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2,213 |
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| 2026 |
8,816 |
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2,054 |
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| 2027 |
7,671 |
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1,922 |
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| 2028 |
6,288 |
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1,955 |
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| Thereafter |
77,763 |
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|
15,935 |
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| Total lease payments |
119,197 |
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|
25,200 |
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| Less: interest |
48,948 |
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|
11,779 |
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| Present value of lease liabilities |
$ |
70,249 |
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$ |
13,421 |
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| Summary of Finance Lease Liability Maturity |
The table below sets forth our 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 |
$ |
4,536 |
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$ |
1,121 |
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| 2025 |
14,123 |
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2,213 |
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| 2026 |
8,816 |
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2,054 |
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| 2027 |
7,671 |
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1,922 |
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| 2028 |
6,288 |
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1,955 |
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| Thereafter |
77,763 |
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|
15,935 |
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| Total lease payments |
119,197 |
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|
25,200 |
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| Less: interest |
48,948 |
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|
11,779 |
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| Present value of lease liabilities |
$ |
70,249 |
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$ |
13,421 |
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