Leases (Tables)

9 Months Ended

Sep. 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 September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Finance leases:
Amortization of right-of-use assets	$	113		$	356		$	673		$	1,122
Interest on lease liabilities		41			46			124			143
Operating lease cost		1,372			1,309			3,976			3,877
Short-term lease cost		62			98			218			328
Variable lease cost		208			257			690			891
Sublease income		(3	)		(4	)		(9	)		(166	)
Net lease cost	$	1,793		$	2,062		$	5,672		$	6,195

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):

	Nine Months Ended September 30,
	2023		2022
Finance leases:
Operating cash flows included in operating activities	$	124	$	143
Financing cash flows included in payments under finance lease obligations		627		1,070
Operating leases:
Operating cash flows (fixed payments) included in other operating activities, net		3,430		4,389
Operating cash flows (liability reduction) included in other operating activities, net		2,771		3,075

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 September 30, 2023 and December 31, 2022 ($ in thousands):

	September 30, 2023			December 31, 2022
Finance lease right-of-use assets, net of accumulated depreciation	$	3,864		$	4,537
Finance lease liabilities		4,427			5,055
Operating lease right-of-use assets		39,639			36,301
Operating lease liabilities		42,730			38,932
Weighted-average lease term:
Finance leases	8.60 years			8.72 years
Operating leases	10.15 years			9.64 years
Weighted-average discount rate:
Finance leases		3.61	%		3.49	%
Operating leases		3.63	%		3.22	%

Future Minimum Rental Commitments Under Finance and Operating Leases

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

	Finance Leases			Operating Leases
2023 (excluding the nine months ended September 30, 2023)	$	133		$	843
2024		572			5,394
2025		584			5,425
2026		589			5,176
2027		594			4,971
Thereafter		2,685			30,194
Total minimum lease payments		5,157			52,003
Less imputed interest		(730	)		(9,273	)
Lease liabilities	$	4,427		$	42,730