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Leases
9 Months Ended
Sep. 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:

    

September 30,

December 31,

Leases

2022

2021

Assets

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

$

15,358

$

14,686

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

 

16,240

 

14,561

Total assets

$

31,598

$

29,247

Liabilities

 

  

 

  

Current

 

  

 

  

Operating

$

4,618

$

3,857

Financing

 

3,821

 

3,406

Total current

 

8,439

 

7,263

Noncurrent

 

  

 

  

Operating

 

11,515

 

11,637

Financing

 

11,753

 

10,908

Total noncurrent

 

23,268

 

22,545

Total liabilities

$

31,707

$

29,808

(1)Operating lease right-of-use assets are recorded net of accumulated amortization of $9.6 million and $9.5 million as of September 30, 2022 and December 31, 2021, respectively.
(2)Financing lease right-of-use assets are recorded net of accumulated amortization of $4.4 million and $2.7 million as of September 30, 2022 and December 31, 2021, respectively.

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

September 30,

 

December 31,

 

2022

 

2021

 

Weighted Average Remaining Lease Term (in years)

  

  

Operating leases

4.12

4.90

Financing leases

4.32

4.70

Weighted Average Discount Rate

Operating leases

4.82

%

4.75

%

Financing leases

5.51

%

4.28

%

The components of lease expense are as follows:

Three Months Ended September 30,

Nine months ended September 30,

    

2022

    

2021

2022

    

2021

Operating lease costs:

 

  

 

  

  

 

  

Operating lease cost

$

1,279

$

1,338

$

3,683

$

4,510

Short-term lease cost (1)

 

416

 

425

 

1,034

 

1,432

Financing lease costs:

 

 

  

 

  

 

  

Interest on lease liabilities

 

216

 

125

 

566

 

369

Amortization of right-of-use assets

 

845

 

657

 

2,391

 

2,259

Total lease cost

$

2,756

$

2,545

$

7,674

$

8,570

(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:

Nine Months Ended September 30,

2022

2021

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

Operating cash flows for operating leases

$

3,646

$

4,358

Operating cash flows for finance leases

$

566

$

369

Financing cash flows for finance leases

$

2,235

$

2,500

Non-cash activity:

 

 

  

ROU assets obtained in exchange for new operating lease liabilities

$

5,878

$

818

ROU assets obtained in exchange for new financing lease liabilities

$

8,790

$

4,329

Maturities of lease liabilities are summarized as follows:

Operating Leases

Finance Leases

Year ending December 31,

2022 (excluding the nine months ended September 30, 2022)

$

1,354

$

1,832

2023

 

5,100

 

3,783

2024

 

4,321

 

3,897

2025

 

2,920

 

3,217

2026

 

1,770

 

1,769

Thereafter

 

2,360

 

3,113

Total future minimum lease payments

 

17,825

 

17,611

Less - amount representing interest

 

1,692

 

2,037

Present value of future minimum lease payments

 

16,133

 

15,574

Less - current lease obligations

 

4,618

 

3,821

Long-term lease obligations

$

11,515

$

11,753