Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
3 Months Ended
Mar. 31, 2023
Leases [Abstract]  
Schedule of Lease Expense and Other Supplemental Information Lease expense consisted of the following for the three months ended March 31, 2023 and 2022 (in thousands):
Three Months Ended March 31,
2023 2022
Operating lease expense $ 1,768  $ 1,747 
Short-term lease expense 420  36 
Finance lease expense:
Amortization of right-of-use assets 565  403 
Interest on lease liabilities 57  49 
Total lease expense $ 2,810  $ 2,235 
Other supplemental information related to leases for the three months ended March 31, 2023 and 2022 and as of March 31, 2023 and December 31, 2022 is as follows (in thousands):

Three Months Ended March 31,
2023 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 1,749  $ 1,672 
Operating cash flows from finance leases 57  49 
Financing cash flows from finance leases 1,493  452 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases $ 2,917  $ 1,383 

March 31, December 31,
2023 2022
Weighted-average remaining lease term:
Operating leases 2.7 years 2.9 years
Finance leases 2.1 years 2.0 years
Weighted-average discount rate:
Operating leases 6.3  % 4.1  %
Finance leases 3.9  % 4.3  %
Schedule of Lease Assets and Liabilities Supplemental balance sheet information related to leases as of March 31, 2023 and December 31, 2022 is as follows (in thousands):
March 31, December 31,
2023 2022
Operating leases:
Operating lease right-of-use assets $ 11,907  $ 10,656 
Current operating lease liability 5,858  5,447 
Long-term operating lease liability 5,772  4,913 
Finance leases:
Property, plant and equipment, net $ 6,703  $ 7,267 
Accrued expenses and other current liabilities 2,921  4,003 
Other liabilities 2,191  2,602 
Schedule of Finance Lease Liabilities Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands):
Operating Leases Finance Leases
Remainder of 2023 $ 4,974  $ 2,598 
2024 4,976  1,203 
2025 1,993  696 
2026 374  795 
2027 14  — 
Thereafter 449  — 
Total lease payments 12,780  5,292 
Less: Present value discount 1,150  180 
Present value of lease payments $ 11,630  $ 5,112 
Schedule of Operating Lease Liabilities Maturities of lease liabilities as of March 31, 2023 are as follows (in thousands):
Operating Leases Finance Leases
Remainder of 2023 $ 4,974  $ 2,598 
2024 4,976  1,203 
2025 1,993  696 
2026 374  795 
2027 14  — 
Thereafter 449  — 
Total lease payments 12,780  5,292 
Less: Present value discount 1,150  180 
Present value of lease payments $ 11,630  $ 5,112