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Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases
The Company leases office facilities and vehicles under operating lease agreements that have initial terms ranging from 1 to 9 years. Some leases include one or more options to renew, generally at our sole discretion, with renewal terms that can extend the lease term up to 10 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. The Company also leases office equipment under a finance lease agreement with a term of 4 years. The Company’s finance lease was not material to the consolidated financial statements as of December 31, 2021.
Supplemental balance sheet information related to the Company’s operating leases is as follows:
LeasesBalance Sheet ClassificationDecember 31, 2021
(in thousands)
Assets
Operating lease assetsOther assets$21,600 
Liabilities
Operating lease liabilities - currentAccrued liabilities$5,251 
Operating lease liabilities - non-currentOther liabilities20,086 
Total operating lease liabilities$25,337 
The weighted-average remaining term of the Company’s operating leases was 5.9 years as of December 31, 2021. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.5% as of December 31, 2021.
The components of lease expense were as follows:
Year Ended December 31, 2021
Operating lease cost$5,935 
Short-term lease cost272 
Variable lease cost1,943 
Total lease expense$8,150 
Operating lease cost is recognized on a straight-line basis over the lease term. The Company leases certain office facilities with a related party, including the office space in Eau Claire, Wisconsin. Operating lease cost with related parties was $1.1 million for the year ended December 31, 2021.
Total lease expense, including the Company’s share of the lessors’ operating expenses, was $5.0 million and $4.3 million for the years ended December 31, 2020 and 2019, respectively. Lease expense with related parties, including the Company’s share of the lessors’ operating expenses, was $1.1 million and $1.3 million for the years ended December 31, 2020 and 2019, respectively.
For the year ended December 31, 2021, operating cash flows included $5.9 million of cash paid for operating lease liabilities.
Maturities of the Company’s operating lease liabilities as of December 31, 2021 were as follows:
Operating Leases
(in thousands)
Years ending December 31:
2022$6,036 
20235,645 
20244,584 
20252,519 
20262,507 
Thereafter6,975 
Total lease payments28,266 
Less: imputed interest2,929 
Total present value of lease liabilities$25,337 
Approximate future minimum lease payments for non-cancelable operating leases with unrelated and related parties as of December 31, 2020 under ASC 840 were as follows:
UnrelatedRelatedTotal
(in thousands)
Years ending December 31:
2021$4,758 $1,079 $5,837 
20224,294 1,090 5,384 
20234,146 1,101 5,247 
20243,705 832 4,537 
20252,551 — 2,551 
Thereafter9,482 — 9,482 
$28,936 $4,102 $33,038 
Leases Leases
The Company leases office facilities and vehicles under operating lease agreements that have initial terms ranging from 1 to 9 years. Some leases include one or more options to renew, generally at our sole discretion, with renewal terms that can extend the lease term up to 10 years. In addition, certain leases contain termination options, where the rights to terminate are held by either the Company, the lessor, or both parties. These options to extend or terminate a lease are included in the lease terms when it is reasonably certain that the Company will exercise that option. The Company’s leases generally do not contain any material restrictive covenants or residual value guarantees. The Company also leases office equipment under a finance lease agreement with a term of 4 years. The Company’s finance lease was not material to the consolidated financial statements as of December 31, 2021.
Supplemental balance sheet information related to the Company’s operating leases is as follows:
LeasesBalance Sheet ClassificationDecember 31, 2021
(in thousands)
Assets
Operating lease assetsOther assets$21,600 
Liabilities
Operating lease liabilities - currentAccrued liabilities$5,251 
Operating lease liabilities - non-currentOther liabilities20,086 
Total operating lease liabilities$25,337 
The weighted-average remaining term of the Company’s operating leases was 5.9 years as of December 31, 2021. The weighted-average discount rate used to measure the present value of the operating lease liabilities was 3.5% as of December 31, 2021.
The components of lease expense were as follows:
Year Ended December 31, 2021
Operating lease cost$5,935 
Short-term lease cost272 
Variable lease cost1,943 
Total lease expense$8,150 
Operating lease cost is recognized on a straight-line basis over the lease term. The Company leases certain office facilities with a related party, including the office space in Eau Claire, Wisconsin. Operating lease cost with related parties was $1.1 million for the year ended December 31, 2021.
Total lease expense, including the Company’s share of the lessors’ operating expenses, was $5.0 million and $4.3 million for the years ended December 31, 2020 and 2019, respectively. Lease expense with related parties, including the Company’s share of the lessors’ operating expenses, was $1.1 million and $1.3 million for the years ended December 31, 2020 and 2019, respectively.
For the year ended December 31, 2021, operating cash flows included $5.9 million of cash paid for operating lease liabilities.
Maturities of the Company’s operating lease liabilities as of December 31, 2021 were as follows:
Operating Leases
(in thousands)
Years ending December 31:
2022$6,036 
20235,645 
20244,584 
20252,519 
20262,507 
Thereafter6,975 
Total lease payments28,266 
Less: imputed interest2,929 
Total present value of lease liabilities$25,337 
Approximate future minimum lease payments for non-cancelable operating leases with unrelated and related parties as of December 31, 2020 under ASC 840 were as follows:
UnrelatedRelatedTotal
(in thousands)
Years ending December 31:
2021$4,758 $1,079 $5,837 
20224,294 1,090 5,384 
20234,146 1,101 5,247 
20243,705 832 4,537 
20252,551 — 2,551 
Thereafter9,482 — 9,482 
$28,936 $4,102 $33,038