XML 37 R27.htm IDEA: XBRL DOCUMENT v3.23.2
Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Components of Lease Costs

The components of the lease costs for the three and six months ended June 30, 2023 and 2022, were as follows (in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Operating lease costs

 

$

2,521

 

 

$

524

 

 

$

5,042

 

 

$

1,047

 

Finance lease costs:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of right-to-use assets, finance leases

 

 

370

 

 

 

279

 

 

 

739

 

 

 

558

 

Interest expense for finance lease liabilities

 

 

44

 

 

 

40

 

 

 

96

 

 

 

86

 

Variable lease costs

 

 

220

 

 

 

244

 

 

 

440

 

 

 

573

 

Total lease costs

 

$

3,155

 

 

$

1,087

 

 

$

6,317

 

 

$

2,264

 

Supplemental Cash Flow Information Relating to Leases

Supplemental cash flow information relating to the Company’s leases for the six months ended June 30, 2023 and 2022, were as follows (in thousands):

 

 

 

Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

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

 

 

 

 

 

 

Operating cash flows used in operating leases

 

$

1,320

 

 

$

1,281

 

Operating cash flows used in finance leases

 

$

661

 

 

$

489

 

Financing cash flows used in finance leases

 

$

96

 

 

$

86

 

Summary of Weighted Average Remaining Lease Terms and Discount Rates

Weighted average remaining lease terms and discount rates as of June 30, 2023 and 2022 were as follows:

 

 

 

Six Months Ended
June 30,

 

 

 

2023

 

 

2022

 

Remaining lease term:

 

 

 

 

 

 

Operating lease

 

10.61 years

 

 

7.84 years

 

Finance lease

 

2.21 years

 

 

1.79 years

 

Discount Rate:

 

 

 

 

 

 

Operating lease

 

 

8.82

%

 

 

10.50

%

Finance lease

 

 

8.50

%

 

 

8.74

%

Summary of Undiscounted Future Lease Payments for Operating and Finance Leases

The undiscounted future lease payments for operating and finance leases as of June 30, 2023, were as follows (in thousands):

 

Fiscal Year

 

Operating
Leases

 

 

Finance
Leases

 

2023 (excluding the first and second quarters)

 

$

(10,618

)

 

$

705

 

2024

 

 

11,496

 

 

 

839

 

2025

 

 

12,142

 

 

 

402

 

2026

 

 

12,506

 

 

 

133

 

2027

 

 

12,881

 

 

 

100

 

Thereafter

 

 

85,142

 

 

 

 

Total minimum lease payments

 

$

123,549

 

 

$

2,179

 

Less amounts representing interest or imputed interest

 

 

(50,481

)

 

 

(186

)

Present value of lease liabilities

 

$

73,068

 

 

$

1,993