Leases (Tables)

12 Months Ended

Dec. 31, 2022

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, 2022		December 31, 2021
Assets
Operating	Other long-term assets	$	19,033	$	8,788
Finance	Property, plant and equipment, net	582		556
Total leased assets		$	19,615	$	9,344
Liabilities
Current
Operating	Accrued expenses and other liabilities	$	2,177	$	1,599
Finance	Current portion of long-term debt and other borrowings	354		392
Noncurrent
Operating	Other long-term liabilities	25,442		16,546
Finance	Long-term debt, net and other borrowings	231		299
Total leased liabilities		$	28,204	$	18,836

Schedule of components of lease expense and other information

The components of lease expense were as follows:

 

(in thousands)	Year Ended December 31, 2022		Year Ended December 31, 2021
Operating lease expense	$	1,797	$	2,312
Finance lease expense
Amortization of ROU assets	426		330
Interest on lease liabilities	28		28
Short-term lease expense	—		8
Total lease expense	$	2,251	$	2,678

Other information related to leases were as follows:

		December 31, 2022		December 31, 2021
Weighted-average remaining lease term (Years):
Operating leases		7.9		8.6
Finance leases		1.9		2.2
Weighted-average discount rate:
Operating leases		4.8%		4.4%
Finance leases		4.4%		4.6%
(in thousands)		Year Ended December 31, 2022		Year Ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,440	$	2,071
Operating cash flows from finance leases		28		28
Financing cash flows from finance leases		384		339
ROU assets obtained in exchange for lease obligations:
Operating leases		11,019		683
Finance leases		582		556

Schedule of future minimum lease payments under operating leases

Future minimum lease payments under non-cancellable leases as of December 31, 2022 were as follows:

(in thousands)	Operating Leases		Finance Leases
2023	$	3,462	$	366
2024	3,887		203
2025	4,147		49
2026	4,245		—
2027	4,381		—
Thereafter	13,599		—
Total future minimum lease payments	33,721		618
Less: interest	6,102		33
Total	$	27,619	$	585

Schedule of future minimum lease payments under finance leases

Future minimum lease payments under non-cancellable leases as of December 31, 2022 were as follows:

(in thousands)	Operating Leases		Finance Leases
2023	$	3,462	$	366
2024	3,887		203
2025	4,147		49
2026	4,245		—
2027	4,381		—
Thereafter	13,599		—
Total future minimum lease payments	33,721		618
Less: interest	6,102		33
Total	$	27,619	$	585