LEASES (Tables)
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3 Months Ended |
Mar. 31, 2025 |
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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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March 31, 2025 |
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December 31, 2024 |
| Operating Leases: |
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| Right-of-use (“ROU”) assets |
$ |
78,380 |
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|
$ |
80,149 |
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| Current portions of operating lease liabilities |
$ |
9,592 |
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$ |
10,536 |
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| Long-term portions of operating lease liabilities |
57,752 |
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|
59,479 |
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| Total operating lease liabilities |
$ |
67,344 |
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|
$ |
70,015 |
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| Weighted-average remaining lease term |
18 years |
|
19 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 |
$ |
24,632 |
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$ |
25,158 |
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| Current portions of financing lease liabilities |
$ |
842 |
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$ |
637 |
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| Long-term financing lease liabilities, net of current portion, unamortized discount and debt issuance costs |
12,028 |
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|
12,267 |
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| Total financing lease liabilities |
$ |
12,870 |
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|
$ |
12,904 |
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| Weighted-average remaining lease term |
12 years |
|
12 years |
| Weighted-average discount rate |
12.01 |
% |
|
12.03 |
% |
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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 March 31, |
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2025 |
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2024 |
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| Operating Leases: |
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| Operating lease costs |
$ |
3,323 |
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$ |
3,056 |
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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 |
372 |
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392 |
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| Total lease costs |
$ |
4,221 |
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$ |
3,974 |
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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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2025 |
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2024 |
| Cash paid for amounts included in the measurement of operating lease liabilities |
$ |
4,668 |
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$ |
4,932 |
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ROU assets obtained in exchange for new operating lease liabilities (1)
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$ |
871 |
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$ |
12,736 |
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(1) Includes non-monetary lease transactions of $0 and $10,378 in 2025 and 2024, respectively. 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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| 2025 |
$ |
10,137 |
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$ |
1,852 |
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| 2026 |
9,938 |
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|
2,054 |
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| 2027 |
8,759 |
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1,922 |
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| 2028 |
7,356 |
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1,955 |
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| 2029 |
5,485 |
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|
1,892 |
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| Thereafter |
72,343 |
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|
14,042 |
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| Total lease payments |
114,018 |
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|
23,717 |
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| Less: interest |
46,674 |
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|
10,847 |
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| Present value of lease liabilities |
$ |
67,344 |
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$ |
12,870 |
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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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| 2025 |
$ |
10,137 |
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$ |
1,852 |
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| 2026 |
9,938 |
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2,054 |
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| 2027 |
8,759 |
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|
1,922 |
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| 2028 |
7,356 |
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1,955 |
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| 2029 |
5,485 |
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|
1,892 |
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| Thereafter |
72,343 |
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|
14,042 |
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| Total lease payments |
114,018 |
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|
23,717 |
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| Less: interest |
46,674 |
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|
10,847 |
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| Present value of lease liabilities |
$ |
67,344 |
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$ |
12,870 |
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