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Leases (Tables)
9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Operating and Finance Lease Terms and Discount Rates
The table below presents certain information related to the weighted average discount rate and weighted average remaining lease term for the Company’s leases as of September 30, 2023 and December 31, 2022:
September 30,December 31,
(In thousands)20232022
Weighted average discount rate - operating leases4.3 %4.2 %
Weighted average discount rate - finance leases8.3 %6.1 %
Weighted average remaining lease term in years - operating leases6.57.2
Weighted average remaining lease term in years - finance leases4.32.0
Schedule of Lease Expense
The components of lease expense for the three and nine months ended September 30, 2023 and 2022 were as follows:
Three Months Ended
September 30,
Nine Months Ended
September 30,
(In thousands)2023202220232022
Operating lease costs$883 $909 $2,679 $2,745 
Short-term lease costs560 534 1,410 1,627 
Total operating lease costs1,443 1,443 4,089 4,372 
   
Variable lease costs299 250 903 809 
Total lease costs$1,742 $1,693 $4,992 $5,181 
Schedule of Maturities of Operating Lease Liabilities
Maturities of our lease liabilities as of September 30, 2023 are as follows:
(In thousands)Operating
Leases
Financing
Leases
2023 (3 months remaining)$909 $134 
20243,383 487 
20252,942 424 
20262,532 389 
20272,280 387 
Thereafter6,938 134 
Total lease payments18,984 1,955 
Less: interest(2,401)(307)
Total present value of lease liabilities$16,583 $1,648 
Schedule of Maturities of Finance Lease Liabilities
Maturities of our lease liabilities as of September 30, 2023 are as follows:
(In thousands)Operating
Leases
Financing
Leases
2023 (3 months remaining)$909 $134 
20243,383 487 
20252,942 424 
20262,532 389 
20272,280 387 
Thereafter6,938 134 
Total lease payments18,984 1,955 
Less: interest(2,401)(307)
Total present value of lease liabilities$16,583 $1,648