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Operating Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Operating Leases Operating Leases
In January 2020, the Company entered into a 63-month non-cancelable lease for 302,880 square feet of warehouse space in New Albany, Ohio. The lease commenced on June 1, 2020. Total minimum lease payments are $7.9 million, net of rent abatement for an initial three-month period and with an annual escalation of 2.5%. The Company has the option to extend the lease term for a period of five years. The Company utilizes the reasonably certain threshold criteria in determining which options it will exercise.

For the year ended December 31, 2021, the Company recorded operating lease costs of $1.8 million, including variable operating lease costs of $0.3 million.

Supplemental information related to the Company’s operating lease was as follows for the year ended December 31, 2021 (in thousands):

Operating cash flows used for operating lease$1,521
Operating lease liability arising from adoption of ASC 842$6,756
Weighted average remaining lease term3.7 years
Weighted average discount rate4.0%

Future minimum lease payments under the Company's non-cancelable operating lease with an initial lease term in excess of one year subsequent to December 31, 2021 are as follows (in thousands):

2022$1,559 
20231,598 
20241,638 
20251,114 
Gross lease payments5,909 
Less: imputed interest(427)
Present value of net future minimum lease payments$5,482 

As of December 31, 2021, the present value of net future minimum lease payments of $5.5 million is recorded: (i) $1.4 million within the current operating lease liabilities; and (ii) $4.1 million within long-term operating lease liabilities on the consolidated balance sheet.

Under the previous lease accounting standard ASC 840, Leases, the aggregate future minimum lease payments under the Company's non-cancelable operating lease, as of December 31, 2020, was as follows:
2021$1,521 
20221,559 
20231,598 
20241,638 
20251,114 
Total$7,430 

Rent expense for the years ended December 31, 2020 and 2019 was $2.1 million and $1.5 million, respectively.