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Leases (Tables)
6 Months Ended
Jun. 30, 2024
Leases  
weighted average remaining lease term and weighted average discount rate

June 30,

2024

Weighted average remaining lease term (years)

Finance leases

1.35

Operating leases

14.36

Weighted average discount rate applied

Finance leases

3.95%

Operating leases

8.22%
schedule of balances in the condensed consolidated balance sheets June 30, 2024Operating lease right-of-use assets, net$32,973,000Current portion of operating lease obligations 823,000Operating lease obligations, net of current portion 32,419,000Total operating lease liabilities$33,242,000 
Schedule of components of lease expense

Three months ended June 30, 2024

Six months ended June 30, 2024

Operating lease expense:

Operating lease cost

$1,055,000$1,504,000

Short-term and variable lease cost

258,000344,000

Finance lease expense:

Finance lease cost - depreciation

3,0003,000

Total lease expense

$1,316,000$1,851,000

 

 

Three months ended June 30, 2023

 

 

Six months ended June 30, 2023

 

Operating lease expense:

 

 

 

 

 

 

Operating lease cost

 

$10,000

 

 

$25,000

 

Short-term and variable lease cost

 

 

12,000

 

 

 

20,000

 

Total lease expense

 

$22,000

 

 

$45,000

 

 

 

 

 

 

 

 

 

 

Lease expense from discontinued operations

 

$22,000

 

 

$45,000

 

Supplemental cash flow information related to leases

 

 

Three months ended June 30, 2024

 

 

Six months ended June 30, 2024

 

Operating cash flows from operating leases

 

$909,000

 

 

$1,228,000

 

Financing cash flows from finance leases

 

 

3,000

 

 

 

3,000

 

Leased assets obtained in exchange for operating lease liabilities

 

 

-

 

 

 

34,289,000

 

Leased assets obtained in exchange for finance lease liabilities

 

 

-

 

 

 

22,000

 

Schedule of maturities of the operating and finance lease liabilities
Year ending December 31,

 

Operating Leases

 

 

Finance Leases

 

remainder of 2024

 

$1,843,000

 

 

$9,000

 

2025

 

 

3,758,000

 

 

 

11,000

 

2026

 

 

3,833,000

 

 

 

-

 

2027

 

 

3,909,000

 

 

 

-

 

2028

 

 

3,806,000

 

 

 

-

 

2029

 

 

3,827,000

 

 

 

-

 

Thereafter

 

 

38,081,000

 

 

 

-

 

Total Lease Payments

 

 

59,057,000

 

 

 

20,000

 

 

 

 

 

 

 

 

 

 

Less discount to PV

 

 

(25,086,000)

 

 

(1,000)

Liability balance

 

$33,971,000

 

 

$19,000