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Leases
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Leases

18.Leases

The Company has operating and finance leases for office space, equipment and vehicles.

Leases recorded on the balance sheet consists of the following:

    

June 30,

December 31,

Leases

2022

2021

Assets

Operating lease right-of-use assets, net (1)

$

16,039

$

14,686

Financing lease right-of-use assets, net (2)

 

17,096

 

14,561

Total assets

$

33,135

$

29,247

Liabilities

 

  

 

  

Current

 

  

 

  

Operating

$

4,589

$

3,857

Financing

 

3,876

 

3,406

Total current

 

8,465

 

7,263

Noncurrent

 

  

 

  

Operating

 

12,308

 

11,637

Financing

 

12,472

 

10,908

Total noncurrent

 

24,780

 

22,545

Total liabilities

$

33,245

$

29,808

(1)Operating lease right-of-use assets are recorded net of accumulated amortization of $8.8 million and $9.5 million as of June 30, 2022 and December 31, 2021, respectively.
(2)Financing lease right-of-use assets are recorded net of accumulated amortization of $3.5 million and $2.7 million as of June 30, 2022 and December 31, 2021, respectively.

Other information related to lease term and discount rate is as follows:

June 30,

 

December 31,

 

2022

 

2021

 

Weighted Average Remaining Lease Term (in years)

  

  

Operating leases

4.32

4.90

Financing leases

4.51

4.70

Weighted Average Discount Rate

Operating leases

4.80

%

4.75

%

Financing leases

5.47

%

4.28

%

The components of lease expense are as follows:

Three Months Ended June 30,

Six months ended June 30,

    

2022

    

2021

2022

    

2021

Operating lease costs:

 

  

 

  

  

 

  

Operating lease cost

$

1,087

$

1,518

$

2,404

$

3,172

Short-term lease cost (1)

 

302

 

317

 

618

 

1,007

Financing lease costs:

 

 

  

 

  

 

  

Interest on lease liabilities

 

183

 

118

 

350

 

244

Amortization of right-of-use assets

 

786

 

821

 

1,546

 

1,602

Total lease cost

$

2,358

$

2,774

$

4,918

$

6,025

(1)Includes expenses related to leases with a lease term of more than one month but less than one year.

Supplemental cash flow information related to leases is as follows:

Six Months Ended June 30,

2022

2021

Cash paid for amounts included in the measurement of lease liabilities:

Operating cash flows for operating leases

$

2,281

$

2,949

Operating cash flows for finance leases

$

350

$

244

Financing cash flows for finance leases

$

1,472

$

1,675

Non-cash activity:

 

 

  

ROU assets obtained in exchange for new operating lease liabilities

$

5,340

$

358

ROU assets obtained in exchange for new financing lease liabilities

$

8,790

$

3,147

Maturities of lease liabilities are summarized as follows:

Operating Leases

Finance Leases

Year ending December 31,

2022 (excluding the six months ended June 30, 2022)

$

2,734

$

2,899

2023

 

4,946

 

3,695

2024

 

4,141

 

3,898

2025

 

2,805

 

3,217

2026

 

1,770

 

1,770

Thereafter

 

2,360

 

3,113

Total future minimum lease payments

 

18,756

 

18,592

Less - amount representing interest

 

1,859

 

2,244

Present value of future minimum lease payments

 

16,897

 

16,348

Less - current lease obligations

 

4,589

 

3,876

Long-term lease obligations

$

12,308

$

12,472