Leases

9 Months Ended

Sep. 30, 2022

Leases

Leases

Note 13. Leases

Our operating lease activities consist of leases for office space and equipment and do not include variable lease payments.

Supplemental balance sheet information as of September 30, 2022, and December 31, 2021, are as follows:

(In thousands)	Classification	September 30, 2022		December 31, 2021
Assets
Operating	Operating lease right-of-use assets	$	2,179	$	2,360
Liabilities
Operating lease	Operating lease liabilities	$	2,192	$	2,364

Our operating leases expenses for the three months ended September 30, 2022, and 2021, were approximately $3,300 and $2,700, respectively. Operating leases expenses for the nine months ended September 30, 2022, and 2021, were approximately $10,000 and $7,700, respectively.

Minimum contractual obligations for our operating leases as of September 30, 2022, are as follows:

(In thousands)	Operating Leases
2022	$	86
2023		342
2024		342
2025		342
2026		345
2027 and after		1,758
Total remaining lease payments	$	3,215

The cash flows related to operating leases was approximately $6,600 and $5,000 as of September 30, 2022, and 2021, respectively.

The weighted average remaining lease terms of our operating leases were approximately nine years and one year as of September 30, 2022, and 2021, respectively. The weighted average discount rate used to determine the lease liabilities for operating leases was 8% as of September 30, 2022, and 2021, respectively. The discount rate used for operating leases was based on our incremental borrowing rate.