XML 33 R23.htm IDEA: XBRL DOCUMENT v3.22.2
Leases (Tables)
6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Components of Operating Lease Costs

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

 

 

 

FOR THE THREE MONTHS ENDED JUNE 30,

 

 

FOR THE SIX MONTHS ENDED JUNE 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Operating lease costs

 

$

1,240

 

 

$

1,209

 

 

$

2,480

 

 

$

2,418

 

Short-term lease costs

 

 

3

 

 

 

7

 

 

 

7

 

 

 

13

 

Variable lease costs

 

 

672

 

 

 

590

 

 

 

1,314

 

 

 

1,259

 

Sublease income

 

 

(850

)

 

 

(348

)

 

 

(1,672

)

 

 

(704

)

 

 

$

1,065

 

 

$

1,458

 

 

$

2,129

 

 

$

2,986

 

Summary of Additional Lease Information

Additional lease information is summarized in the following table (in thousands, except lease term and discount rate):

 

 

 

FOR THE SIX MONTHS ENDED JUNE 30,

 

 

 

2022

 

 

2021

 

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

 

$

3,100

 

 

$

3,000

 

Weighted-average remaining lease term - operating leases (years)

 

 

7.4

 

 

 

8.4

 

Weighted-average discount rate - operating leases

 

 

10.1

%

 

 

10.3

%

 

Schedule of Undiscounted Cash Flows Used in Calculating the Operating Lease Liabilities and Amounts to be Received under the Sublease

Undiscounted cash flows used in calculating the Company’s operating lease liabilities and amounts to be received under the sublease at 35 CambridgePark Drive and 4 Hartwell Place as of June 30, 2022 are as follows (in thousands):

Fiscal Year

 

OPERATING
LEASE
PAYMENTS

 

 

SUBLEASE
  RECEIPTS

 

 

NET
OPERATING
LEASE
PAYMENTS

 

2022 (remainder of the year)

 

$

3,134

 

 

$

1,628

 

 

$

1,506

 

2023

 

 

6,436

 

 

 

1,965

 

 

 

4,471

 

2024

 

 

6,625

 

 

 

965

 

 

 

5,660

 

2025

 

 

6,820

 

 

 

 

 

 

6,820

 

2026

 

 

7,020

 

 

 

 

 

 

7,020

 

Thereafter

 

 

21,779

 

 

 

 

 

 

21,779

 

Total undiscounted cash flows

 

$

51,814

 

 

$

4,558

 

 

$

47,256

 

Less: Amounts representing interest

 

 

(15,561

)

 

 

 

 

 

 

Present value of lease liabilities

 

$

36,253