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Leases
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases
Note 10 - Leases
The components of lease expense were as follows (in thousands):
Year Ended
December 31, 2021
Finance lease right-of-use assets amortization$240 
Finance lease interest expense11 
Total Finance Lease Cost251 
Operating lease cost4,527 
Short-term lease cost97 
Variable lease cost930
Sublease income(323)
Total lease cost$5,482 


The weighted-average remaining lease term and discount rate for operating and finance leases, for the year ended December 31, 2021, are as follows:
Operating LeasesFinance Leases
Weighted-average remaining lease term10.4 years2.3 years
Weighted-average discount rate5.4 %3.7 %
The following table indicates the financial statement lines where the Company’s operating and financing lease liabilities and ROU assets are included on the Consolidated Balance Sheets (in thousands):
As of December 31, 2021Balance Sheet Classification
Assets:
Operating lease ROU assets$28,623 Operating lease right-of-use assets
Finance lease ROU assets313 Property and equipment, net
Total lease assets$28,936 
Liabilities:
Current operating lease liabilities$3,225 Accrued expenses and other current liabilities
Current finance lease liabilities163 Current portion of debt and finance lease liabilities, net of deferred financing costs
Non-current operating lease liabilities32,461 Operating lease liabilities, net of current portion
Non-current finance lease liabilities150 Debt and finance lease liabilities, net of deferred financing costs and current portion
Total lease liabilities$35,999 
Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended
December 31, 2021
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases $4,797 
Operating cash flows from finance leases$(11)
Finance cash flows from finance leases$(228)
Operating ROU assets obtained in exchange for lease obligations:$31,185 
Future minimum lease payments under non-cancelable operating and finance leases as of December 31, 2021 are as follows (in thousands):
Operating LeasesFinance Leases
2022$5,055 $172 
20234,936 93 
20244,672 38 
20254,287 19 
20264,075 4 
Thereafter24,115 — 
Total minimum lease payments47,140 326 
Less: Amounts representing interest(11,454)(13)
Present value of lease payments$35,686 $313 
Under the previous lease accounting guidance, ASC 840, rent expense for the year ended December 31, 2020 and 2019 was $5.2 million and $5.1 million, respectively.
The Company continues to be committed to a work from anywhere strategy for its employees. In the future if the Company determines it no longer intends to utilize its leased office space(s) for the remaining duration of its lease(s), the Company may be required to record an impairment charge related to its ROU assets. In the event leased office space is no longer used, if a termination option is not available, the Company is still contractually obligated to continue making lease payments.
Leases
Note 10 - Leases
The components of lease expense were as follows (in thousands):
Year Ended
December 31, 2021
Finance lease right-of-use assets amortization$240 
Finance lease interest expense11 
Total Finance Lease Cost251 
Operating lease cost4,527 
Short-term lease cost97 
Variable lease cost930
Sublease income(323)
Total lease cost$5,482 


The weighted-average remaining lease term and discount rate for operating and finance leases, for the year ended December 31, 2021, are as follows:
Operating LeasesFinance Leases
Weighted-average remaining lease term10.4 years2.3 years
Weighted-average discount rate5.4 %3.7 %
The following table indicates the financial statement lines where the Company’s operating and financing lease liabilities and ROU assets are included on the Consolidated Balance Sheets (in thousands):
As of December 31, 2021Balance Sheet Classification
Assets:
Operating lease ROU assets$28,623 Operating lease right-of-use assets
Finance lease ROU assets313 Property and equipment, net
Total lease assets$28,936 
Liabilities:
Current operating lease liabilities$3,225 Accrued expenses and other current liabilities
Current finance lease liabilities163 Current portion of debt and finance lease liabilities, net of deferred financing costs
Non-current operating lease liabilities32,461 Operating lease liabilities, net of current portion
Non-current finance lease liabilities150 Debt and finance lease liabilities, net of deferred financing costs and current portion
Total lease liabilities$35,999 
Supplemental cash flow information related to leases is as follows (in thousands):
Year Ended
December 31, 2021
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows from operating leases $4,797 
Operating cash flows from finance leases$(11)
Finance cash flows from finance leases$(228)
Operating ROU assets obtained in exchange for lease obligations:$31,185 
Future minimum lease payments under non-cancelable operating and finance leases as of December 31, 2021 are as follows (in thousands):
Operating LeasesFinance Leases
2022$5,055 $172 
20234,936 93 
20244,672 38 
20254,287 19 
20264,075 4 
Thereafter24,115 — 
Total minimum lease payments47,140 326 
Less: Amounts representing interest(11,454)(13)
Present value of lease payments$35,686 $313 
Under the previous lease accounting guidance, ASC 840, rent expense for the year ended December 31, 2020 and 2019 was $5.2 million and $5.1 million, respectively.
The Company continues to be committed to a work from anywhere strategy for its employees. In the future if the Company determines it no longer intends to utilize its leased office space(s) for the remaining duration of its lease(s), the Company may be required to record an impairment charge related to its ROU assets. In the event leased office space is no longer used, if a termination option is not available, the Company is still contractually obligated to continue making lease payments.