Leases (Tables)

9 Months Ended

Sep. 30, 2023

Lease costs were as follows:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Operating lease cost	$	1,152	$	1,248	$	3,506	$	3,716
Short-term lease cost	—		—		—		18
Variable lease cost	15		15		44		48
Sublease income	$	(32)	$	(32)	(97)		(96)
Net lease cost	$	1,135	$	1,231	$	3,453	$	3,686

The table below presents other information on the Company's operating leases for the nine months ended September 30, 2023 and 2022:


	Nine Months Ended September 30,
(in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	3,297	$	3,050
Right-of-use assets obtained in exchange for new operating lease liabilities	467		739

Maturity analysis of operating lease liabilities

A maturity analysis of operating lease liabilities and a reconciliation of the undiscounted cash flows to the total operating lease liability at September 30, 2023 are as follows:


(in thousands)
Within one year	$	4,613
After one year but within three years	6,811
After three years but within five years	3,910
After five years	6,082
Total undiscounted cash flows	21,416
Discount on cash flows	(2,798)
Total operating lease liabilities	$	18,618