LEASES (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Leases [Abstract] |
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| Lease, Cost |
The following table provides the components of lease cost recognized in the consolidated statements of operations and comprehensive income (loss) for the periods presented.
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Year Ended December 31, |
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2023 |
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2022 |
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2021 |
| Finance lease cost: |
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| Amortization of lease assets |
$ |
5,358 |
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$ |
5,422 |
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$ |
3,155 |
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| Interest on lease liabilities |
9,784 |
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11,154 |
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9,158 |
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| Total finance lease cost |
15,142 |
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16,576 |
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12,313 |
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| Operating lease cost |
4,819 |
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3,402 |
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2,585 |
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| Variable lease cost |
155 |
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390 |
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355 |
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| Total lease cost |
$ |
20,116 |
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$ |
20,368 |
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$ |
15,253 |
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All extension options that are reasonably certain to be exercised have been included in the measurement of lease obligations. The Company reassesses the likelihood of extension option exercise if there is a significant event or change in circumstances within its control.
Other information related to operating and finance leases as of the balance sheet dates presented are as follows:
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As of December 31, 2023 |
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As of December 31, 2022 |
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Finance Leases |
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Operating Leases |
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Finance Leases |
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Operating Leases |
| Weighted average discount rate |
16.09 |
% |
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15.09 |
% |
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11.23 |
% |
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11.51 |
% |
| Weighted average remaining lease term (in years) |
16.6 |
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8.7 |
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22.7 |
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14.1 |
Cash paid for amounts included in the measurement of lease liabilities |
$ |
11,060 |
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$ |
5,168 |
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$ |
11,629 |
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$ |
3,133 |
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| Lessee, Operating Lease, Liability, Maturity |
The maturities of the contractual undiscounted lease liabilities as of December 31, 2023 are as follows:
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Finance Leases |
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Operating Leases |
| 2024 |
$ |
9,718 |
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$ |
5,081 |
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| 2025 |
10,602 |
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5,665 |
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| 2026 |
10,494 |
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5,428 |
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| 2027 |
10,002 |
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5,185 |
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| 2028 |
10,166 |
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4,787 |
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| Thereafter |
147,970 |
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19,833 |
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| Total undiscounted lease liabilities |
198,952 |
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45,979 |
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| Interest on lease liabilities |
(137,228) |
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(21,425) |
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| Total present value of minimum lease payments |
$ |
61,724 |
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$ |
24,554 |
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| Lease liabilities - current portion |
$ |
8,885 |
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$ |
4,693 |
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| Lease liabilities - non-current |
$ |
52,839 |
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$ |
19,861 |
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| Finance Lease, Liability, Fiscal Year Maturity |
The maturities of the contractual undiscounted lease liabilities as of December 31, 2023 are as follows:
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Finance Leases |
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Operating Leases |
| 2024 |
$ |
9,718 |
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$ |
5,081 |
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| 2025 |
10,602 |
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5,665 |
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| 2026 |
10,494 |
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5,428 |
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| 2027 |
10,002 |
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5,185 |
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| 2028 |
10,166 |
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4,787 |
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| Thereafter |
147,970 |
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19,833 |
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| Total undiscounted lease liabilities |
198,952 |
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45,979 |
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| Interest on lease liabilities |
(137,228) |
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(21,425) |
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| Total present value of minimum lease payments |
$ |
61,724 |
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$ |
24,554 |
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| Lease liabilities - current portion |
$ |
8,885 |
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$ |
4,693 |
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| Lease liabilities - non-current |
$ |
52,839 |
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$ |
19,861 |
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