Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of operating and finance lease assets and liabilities

Operating and finance lease assets and liabilities are as follows:

(in thousands)	Classification	December 31, 2021		December 31, 2020
Assets
Operating	Other long-term assets	$	8,788	$	18,441
Finance	Property, plant and equipment, net	556		525
Total leased assets		$	9,344	$	18,966
Liabilities
Current
Operating	Accrued expenses and other liabilities	$	1,599	$	1,164
Finance	Current portion of long-term debt and other borrowings	392		249
Noncurrent
Operating	Other long-term liabilities	16,546		17,501
Finance	Long-term debt, net and other borrowings	299		246
Total leased liabilities		$	18,836	$	19,160

Schedule of components of lease expense and other information

The components of lease expense were as follows:

 

(in thousands)	Year Ended December 31, 2021		Year Ended December 31, 2020
Operating lease expense	$	2,312	$	1,471
Finance lease expense
Amortization of ROU assets	330		196
Interest on lease liabilities	28		21
Short-term lease expense	8		70
Total lease expense	$	2,678	$	1,758

Other information related to leases were as follows:

		December 31, 2021		December 31, 2020
Weighted-average remaining lease term (Years):
Operating leases		8.6		9.7
Finance leases		2.2		2.4
Weighted-average discount rate:
Operating leases		4.4%		4.4%
Finance leases		4.6%		5.3%
(in thousands)		Year Ended December 31, 2021		Year Ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,071	$	1,202
Operating cash flows from finance leases		28		21
Financing cash flows from finance leases		339		207
ROU assets obtained in exchange for lease obligations:
Operating leases		683		19,210
Finance leases		556		373

Schedule of future minimum lease payments under operating leases

Future minimum lease payments under non-cancellable leases as of December 31, 2021 were as follows:

(in thousands)	Operating Leases		Finance Leases
2022	$	2,359	$	406
2023	2,404		268
2024	2,450		105
2025	2,497		—
2026	2,491		—
Thereafter	9,786		—
Total future minimum lease payments	21,987		779
Less: interest	3,842		88
Total	$	18,145	$	691

Schedule of future minimum lease payments under finance leases

Future minimum lease payments under non-cancellable leases as of December 31, 2021 were as follows:

(in thousands)	Operating Leases		Finance Leases
2022	$	2,359	$	406
2023	2,404		268
2024	2,450		105
2025	2,497		—
2026	2,491		—
Thereafter	9,786		—
Total future minimum lease payments	21,987		779
Less: interest	3,842		88
Total	$	18,145	$	691