Leases (Tables)

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Schedule of Maturity of Finance Lease Liability

At June 30, 2023, the maturity of lease liabilities under Topic 842 "Leases" are as follows:

Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	1,958		71		2,029
2024	2,979		133		3,112
2025	2,221		19		2,240
2026	1,394				1,394
2027	637		—		637
Thereafter	1,141		—		1,141
Total	10,330		223		10,553
Less: present value discount*	(1,304)		(9)		(1,313)
Present value of lease liabilities	9,026		214		9,240
Less: current portion of lease liabilities	(3,024)				(3,024)
Total long-term lease liabilities	$	6,002	$	214	$	6,216
* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.

Schedule of Maturity of Operating Lease Liability

At June 30, 2023, the maturity of lease liabilities under Topic 842 "Leases" are as follows:

Year	Operating Leases		Financing Leases		Total
	(in thousands)
2023	1,958		71		2,029
2024	2,979		133		3,112
2025	2,221		19		2,240
2026	1,394				1,394
2027	637		—		637
Thereafter	1,141		—		1,141
Total	10,330		223		10,553
Less: present value discount*	(1,304)		(9)		(1,313)
Present value of lease liabilities	9,026		214		9,240
Less: current portion of lease liabilities	(3,024)				(3,024)
Total long-term lease liabilities	$	6,002	$	214	$	6,216
* The discount rate used was the incremental borrowing rates respective to the country where the assets are located.

Schedule of Lease Cost

The lease cost is recognized in our condensed consolidated statements of income in the category of general and administrative and is summarized as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2023		2022		2023		2022
	(in thousands)				(in thousands)
Operating Lease Cost	$	1,063	$	989	$	2,129	$	1,980
Finance Lease Cost:
Amortization of Lease Assets	34		46		74		94
Interest on Lease Liabilities	3		6		7		13
Finance Lease Cost	37		52		81		107
Sublease Income	—		(23)		(24)		(46)
Total Net Lease Cost	$	1,100	$	1,018	$	2,186	$	2,041

Schedule of Other Operating and Finance Lease Information

Other information about lease amounts recognized in our condensed consolidated statement of income is summarized as follows:

	June 30, 2023
Weighted Average Lease Term - Operating Leases	1.62 years
Weighted Average Lease Term - Finance Leases	3.89 years
Weighted Average Discount Rate - Operating Leases	5.4	%
Weighted Average Discount Rate - Finance Leases	8.2	%

Schedule of Other Commitments

Such arrangements represent further commitments of approximately $8.9 million as follows:

Year	Commitments
	(in thousands)
2023 (Remaining six months)	$	5,208
2024	3,214
Thereafter	$	516
Total	$	8,938