Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Components of Operating Lease Expense and Supplemental Cash Flow Information

The following table presents the components of operating lease expense, as well as supplemental cash flow information, related to the Company’s leases:

	For the Three Months Ended March 31,
	2022
	(in thousands)
Operating lease expense1	$	691
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	474
Right-of-use assets obtained in exchange for lease obligations	$	23,194

1.Amounts have not been reduced by sublease income of $0.1 million recognized during the three months ended March 31, 2022.

Information Regarding Operating Leases

The following table presents information regarding the Company’s operating leases:

	As of
	March 31, 2022
	(in thousands)
Operating lease right-of-use assets	$	32,516
Operating lease liabilities	$	33,042
Weighted-average remaining lease term (in years)		14.1
Weighted-average discount rate		3.3	%

Maturities of Lease Liabilities

The maturities of lease liabilities are as follows (in thousands):

Year Ending December 31,	Operating Leases
2022 (excluding the three months ended March 31, 2022)	$	2,272
2023		2,354
2024		1,979
2025		1,979
2026		777
2027 and thereafter		33,222
Total undiscounted lease payments	$	42,583
Less discount		(9,541	)
Total lease liabilities	$	33,042