Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Components of Net Lease Cost

The following table details the components of net lease cost for the periods presented ($ in thousands):

	Three Months Ended June 30,						Six Months Ended June 30,
	2023			2022			2023			2022
Finance leases:
Amortization of right-of-use assets	$	203		$	379		$	560		$	766
Interest on lease liabilities		41			48			83			97
Operating lease cost		1,319			1,293			2,604			2,568
Short-term lease cost		67			98			156			230
Variable lease cost		227			323			482			634
Sublease income		(3	)		(82	)		(6	)		(162	)
Net lease cost	$	1,854		$	2,059		$	3,879		$	4,133

Cash Payments Included in Measurement of Lease Liabilities

The following table details the cash payments included in the measurement of lease liabilities during the periods presented ($ in thousands):

	Six Months Ended June 30,
	2023		2022
Finance leases:
Operating cash flows included in operating activities	$	83	$	97
Financing cash flows included in payments under finance lease obligations		535		733
Operating leases:
Operating cash flows (fixed payments) included in other operating activities, net		2,484		3,168
Operating cash flows (liability reduction) included in other operating activities, net		1,878		2,118

Balance Sheet Information and Weighted-Average Lease Terms and Discount Rates Related to Leases

The following table details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at June 30, 2023 and December 31, 2022 ($ in thousands):

	June 30, 2023			December 31, 2022
Finance lease right-of-use assets, net of accumulated depreciation	$	3,977		$	4,537
Finance lease liabilities		4,520			5,055
Operating lease right-of-use assets		38,179			36,301
Operating lease liabilities		40,845			38,932
Weighted-average lease term:
Finance leases	8.85 years			8.72 years
Operating leases	10.05 years			9.64 years
Weighted-average discount rate:
Finance leases		3.62	%		3.49	%
Operating leases		3.52	%		3.22	%

Future Minimum Rental Commitments Under Finance and Operating Leases

At June 30, 2023, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

	Finance Leases			Operating Leases
2023 (excluding the six months ended June 30, 2023)	$	267		$	2,034
2024		572			5,242
2025		584			5,214
2026		589			4,961
2027		594			4,735
Thereafter		2,685			26,896
Total minimum lease payments		5,291			49,082
Less imputed interest		(771	)		(8,237	)
Lease liabilities	$	4,520		$	40,845