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Leases (Tables)
6 Months Ended
Jun. 30, 2022
Lessee Disclosure [Abstract]  
Elements of Lease Expense

The components of lease cost were as follows (in thousands):

 

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

Operating lease cost

 

$

2,496

 

 

$

3,053

 

Short-term lease cost

 

 

 

 

 

 

Variable lease cost

 

 

357

 

 

 

272

 

Finance lease cost:

 

 

 

 

 

 

Amortization of lease assets

 

 

8

 

 

 

77

 

Interest on lease liabilities

 

 

1

 

 

 

5

 

Total finance lease cost

 

$

9

 

 

$

82

 

Summary of supplemental disclosure of cash flow information related to leases

Supplemental disclosure of cash flow information related to leases was as follows (in thousands):

 

 

 

Six Months Ended
June 30,

 

 

 

2022

 

 

2021

 

Cash paid for amounts included in the measurement
   of operating lease liabilities (operating cash flows)

 

$

2,177

 

 

$

2,970

 

Cash paid for amounts included in the measurement
   of finance lease liabilities (operating cash flows)

 

$

1

 

 

$

5

 

Cash paid for amounts included in the measurement
   of finance lease liabilities (financing cash flows)

 

$

27

 

 

$

108

 

Operating lease liabilities arising from obtaining
   right-of-use assets

 

$

 

 

$

 

Finance lease liabilities arising from obtaining right-
   of-use assets

 

$

 

 

$

 

Reduction in operating lease liabilities as a result of lease modifications

 

$

11,844

 

 

$

 

Reduction in operating right-of-use assets as a result of lease modifications

 

$

11,852

 

 

$

 

Schedule of weighted-average remaining lease term and discount rate

The weighted-average remaining lease term and discount rate were as follows:

 

 

 

As of June 30,

 

 

 

2022

 

 

2021

 

Weighted-average remaining lease term (in years) used for:

 

 

 

 

 

 

Operating leases

 

 

0.39

 

 

 

4.75

 

Finance leases

 

 

 

 

 

1.11

 

Weighted-average discount rate used for:

 

 

 

 

 

 

Operating leases

 

 

5.85

%

 

 

9.08

%

Finance leases

 

 

 

 

 

5.88

%

Summary of future annual operating lease payments

As of June 30, 2022, future annual lease payments under the Company’s real estate operating leases and equipment finance leases were as follows (in thousands):

 

Year

 

Operating Leases

 

 

Lease Payments to be Received from Sublease

 

 

Net Operating Lease Payments

 

 

2022

 

$

566

 

 

$

(166

)

 

$

400

 

 

2023

 

 

 

 

 

 

 

$

-

 

 

2024

 

 

 

 

 

 

 

$

-

 

 

2025

 

 

 

 

 

 

 

$

-

 

 

2026

 

 

 

 

 

 

 

$

-

 

 

Thereafter

 

 

 

 

 

 

 

$

-

 

 

Total future lease payments

 

 

566

 

 

 

(166

)

 

 

400

 

 

Less: Imputed interest

 

 

(7

)

 

 

 

 

 

(7

)

 

Total lease liabilities

 

$

559

 

 

$

(166

)

 

$

393

 

 

Summary of table presents lease assets and liabilities and their classification on the condensed consolidated balance sheet

The following table presents lease assets and liabilities and their classification on the condensed consolidated balance sheet (in thousands):

 

Leases

 

Condensed Consolidated Balance Sheet Classification

 

Amount

 

Assets:

 

 

 

 

 

Operating lease assets

 

Operating lease right-of- use assets

 

$

831

 

Total leased assets

 

 

 

$

831

 

Liabilities:

 

 

 

 

 

Current:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liabilities

 

$

559

 

Non-current:

 

 

 

 

 

Operating lease liabilities

 

Operating lease liabilities, net of current portion

 

 

 

Total lease liabilities

 

 

 

$

559