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Commitments and Contingencies
6 Months Ended
Jun. 30, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

Note 14. Commitments and Contingencies

 

Operating Leases

 

The Company leases office space and various equipment under non-cancelable operating leases, with the longest lease expiring in 2032. These lease agreements provide for various renewal options. Rent expense for the various leased office space and equipment was approximately $0.8 million and $1.6 million for the three and six months ended June 30, 2022 and $0.5 million and $1.1 million for the three and six months ended June 30, 2021, respectively.

The following table presents information regarding the Company’s operating leases as of June 30, 2022:

 

Operating lease right-of-use assets

 

$

13,591

 

Operating lease liabilities

 

$

15,787

 

Cash paid for lease liabilities

 

$

1,168

 

Weighted-average remaining lease term (in years)

 

 

7.51

 

Weighted-average discount rate

 

 

4.49

%

 

 

The future contractual lease payments as of June 30, 2022 are as follows:

 

Remainder of 2022

 

$

1,082

 

2023

 

 

2,976

 

2024

 

 

3,222

 

2025

 

 

2,066

 

2026

 

 

1,727

 

Thereafter

 

 

8,977

 

Total undiscounted lease payments

 

 

20,050

 

Less discount

 

 

(3,319

)

Less construction allowance

 

 

(944

)

Total lease liabilities

 

$

15,787

 

 

Contingencies

 

We may be involved, either as plaintiff or defendant, in a variety of ongoing claims, demands, suits, investigations, tax matters and proceedings that arise from time to time in the ordinary course of our business. We evaluated all potentially significant litigation, government investigations, claims or assessments in which we are involved and do not believe that any of these matters, individually or in the aggregate, will result in losses that are materially in excess of amounts already recognized, if any.