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Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Lease Costs

The Company recorded the following lease costs for the year ended December 31, 2022:

(in thousands)

 

Year Ended December 31, 2022

 

Lease Cost

 

 

 

Capitalized operating lease cost

 

$

2,676

 

Variable lease cost

 

 

1

 

Total lease cost

 

$

2,677

 

 

(in thousands)

 

 

 

Supplemental Cash Flow and Other Information

 

 

 

Cash paid for amounts included in measurement of lease liabilities and capitalized operating leases:

 

 

 

Operating cash flows

 

$

3,145

 

 

 

 

 

Right-of-use assets obtained in exchange for lease liabilities:

 

 

 

Capitalized operating leases

 

$

982

 

Schedule of Leases Term and Discount Rate

Lease term and discount rate consisted of the following at December 31, 2022:

 

 

December 31, 2022

 

Weighted-average remaining lease term (in years):

 

 

 

Capitalized operating leases

 

 

5.78

 

 

 

 

 

Weighted-average discount rate:

 

 

 

Capitalized operating leases

 

 

4.2

%

 

Schedule Of Future Minimum Payments For Operating Leases

The table below reconciles the undiscounted future minimum lease payments (displayed by year and in the aggregate) under noncancelable operating leases with terms of more than one year to the total operating lease liabilities recognized on the consolidated balance sheets as of December 31, 2022.

(in thousands)

 

Capitalized Operating Lease

 

2023

 

$

1,960

 

2024

 

 

2,344

 

2025

 

 

2,143

 

2026

 

 

2,071

 

2027

 

 

2,112

 

Thereafter

 

 

2,360

 

 

 

$

12,990

 

 

 

 

 

Imputed interest

 

 

1,500

 

Operating lease liability balance at December 31, 2022

 

$

11,490

 

Schedule of Maturities of Lease Liabilities

Future aggregate minimum annual lease payments as of December 31, 2021 under the previous lease accounting standard were as follows:

(in thousands)

 

Operating Lease

 

2023

 

$

3,120

 

2024

 

 

1,895

 

2025

 

 

2,282

 

2026

 

 

2,174

 

2027

 

 

2,165

 

Thereafter

 

 

4,805

 

 

 

$

16,441