XML 32 R21.htm IDEA: XBRL DOCUMENT v3.23.2
Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Schedule of Cost Components of Operating Lease

The cost components of the operating leases were as follows for the three and six months ended June 30, 2023 and 2022:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Lease Cost

 

 

 

 

 

 

 

 

 

 

 

 

Operating lease expense

 

$

411

 

 

$

238

 

 

$

823

 

 

$

476

 

Variable lease expense(1)

 

 

198

 

 

 

191

 

 

 

395

 

 

 

383

 

Lease Term and Discount Rate

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average remaining lease term (years)

 

 

7.77

 

 

 

10.00

 

 

 

7.77

 

 

 

10.00

 

Weighted average discount rate

 

 

3.90

%

 

 

3.42

%

 

 

3.90

%

 

 

3.42

%

 

(1)
Variable lease costs are payments that vary because of changes in facts or circumstances and include common area maintenance and property taxes related to the premises. Variable lease costs are excluded from the calculation of minimum lease payments.
Future Minimum Lease Payments

Future minimum lease payments as of June 30, 2023 were as follows:

 

Year ending December 31:

 

2023

 

$

822

 

2024

 

 

1,699

 

2025

 

 

1,768

 

2026

 

 

1,837

 

2027

 

 

1,824

 

2028 and thereafter

 

 

5,410

 

Total future minimum lease payments

 

$

13,360

 

Less: imputed interest

 

 

(1,854

)

Present value of lease liabilities

 

$

11,506