Leases (Tables)
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12 Months Ended |
Dec. 31, 2024 |
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| Leases [Abstract] |
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| Schedule of Operating and Finance leases recorded in Consolidated Balance Sheet |
Operating and finance lease amounts from continuing operations are as follows (in thousands):
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Year Ended December 31, |
| Classification |
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Financial Statement Line Item |
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2024 |
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2023 |
| Operating lease assets |
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Right-of-use assets, operating leases |
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$ |
28,225 |
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$ |
27,784 |
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| Finance lease assets |
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Property, plant and equipment, net |
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1,267 |
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1,543 |
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| Current liabilities |
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Current portion of lease liabilities, operating leases |
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1,513 |
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1,140 |
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| Current liabilities |
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Current portion of lease liabilities, finance leases |
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334 |
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292 |
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| Non-current liabilities |
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Non-current portion of lease liabilities, operating leases |
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30,039 |
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29,729 |
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| Non-current liabilities |
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Non-current portion of lease liabilities, finance leases |
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$ |
1,015 |
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$ |
1,307 |
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| Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Leases |
Individual components of the total lease cost incurred by the Company are as follows:
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Year Ended December 31, |
| (in thousands) |
2024 |
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2023 |
Operating lease cost1
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$ |
3,945 |
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$ |
3,945 |
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| Finance lease cost: |
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| Reduction in carrying amount of right-of-use assets |
322 |
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334 |
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| Interest on finance lease liabilities |
86 |
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85 |
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| Sublease income |
(419) |
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(394) |
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| Total lease cost |
$ |
3,934 |
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$ |
3,970 |
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1Includes short term leases, which are immaterial
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Year Ended December 31, |
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2024 |
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2023 |
| Weighted-average discount rate |
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| Operating leases |
7.17 |
% |
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8.33 |
% |
| Finance leases |
5.97 |
% |
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5.92 |
% |
| Weighted-average remaining lease term |
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| Operating leases |
11.61 years |
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12.67 years |
| Finance leases |
4.03 years |
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5.07 years |
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| Schedule of Maturities For Operating Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases as of December 31, 2024 are as follows:
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| (in thousands) |
Operating |
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Finance |
| 2025 |
$ |
3,698 |
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$ |
403 |
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| 2026 |
3,750 |
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361 |
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| 2027 |
3,825 |
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361 |
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| 2028 |
3,903 |
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303 |
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| 2029 |
3,971 |
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85 |
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| Thereafter |
27,966 |
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— |
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| Total undiscounted minimum future lease payments |
47,113 |
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1,513 |
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| Imputed Interest |
(15,561) |
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(164) |
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| Total lease liabilities |
$ |
31,552 |
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$ |
1,349 |
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| Schedule of Maturities For Finance Leases After Adoption of 842 |
The amounts of undiscounted future minimum lease payments under leases as of December 31, 2024 are as follows:
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| (in thousands) |
Operating |
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Finance |
| 2025 |
$ |
3,698 |
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$ |
403 |
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| 2026 |
3,750 |
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361 |
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| 2027 |
3,825 |
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361 |
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| 2028 |
3,903 |
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303 |
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| 2029 |
3,971 |
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85 |
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| Thereafter |
27,966 |
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— |
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| Total undiscounted minimum future lease payments |
47,113 |
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1,513 |
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| Imputed Interest |
(15,561) |
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(164) |
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| Total lease liabilities |
$ |
31,552 |
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$ |
1,349 |
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| Schedule of Lessor, Operating Lease, Payment to be Received, Maturity |
Future expected cash receipts from the Company's subleases as of December 31, 2024 are as follows:
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| (in thousands) |
Sublease Receipts |
| 2025 |
$ |
582 |
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| 2026 |
594 |
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| 2027 |
606 |
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| 2028 |
618 |
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| 2029 |
631 |
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| Thereafter |
4,598 |
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| Total sublease receipts |
$ |
7,629 |
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