Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

LEASES

LEASES

Leases

The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2021, the components of lease cost were as follows:

Components of Lease Cost
	Twelve Months Ended December 31,
(in thousands)	2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	67	$	89
Interest on lease liabilities	3		7
Operating lease cost	5,571		4,824
Short-term lease cost	1,033		818
Variable lease cost	410		487
Total lease cost	$	7,084	$	6,225

As of December 31, 2021, future minimum lease payments under these non-cancelable leases are:

Future Minimum Lease Payments
(in thousands)	Operating Leases
2022	$	4,949
2023	3,793
2024	2,683
2025	2,036
2026	1,652
Thereafter	3,090
Total minimum lease payments	$	18,203
Less imputed interest	(1,311)
Total lease liabilities	$	16,892

Rental expense for operating leases was $7.0 million for 2021, $6.1 million for 2020, and $5.5 million for 2019.

Future Lease Commencements

As of December 31, 2021, we have additional operating leases that have not yet commenced in the amount of $4.2 million. These operating leases will commence in fiscal year 2022.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
	December 31,
(in thousands)	2021			2020
Other non-current assets	$	16,744		$	14,144
Accrued liabilities	4,655			3,680
Other long-term liabilities	12,237			10,565
Total operating lease liabilities	$	16,892		$	14,245
Weighted average remaining lease term	5.14 years			5.83 years
Weighted average discount rate	2.83		%	3.04		%

Supplemental cash flow information related to leases was as follows:

	Twelve Months Ended December 31,
(in thousands)	2021	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	5,013	4,487

LEASES

LEASES

Leases

The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2021, the components of lease cost were as follows:

Components of Lease Cost
	Twelve Months Ended December 31,
(in thousands)	2021		2020
Finance lease cost:
Amortization of right-of-use assets	$	67	$	89
Interest on lease liabilities	3		7
Operating lease cost	5,571		4,824
Short-term lease cost	1,033		818
Variable lease cost	410		487
Total lease cost	$	7,084	$	6,225

As of December 31, 2021, future minimum lease payments under these non-cancelable leases are:

Future Minimum Lease Payments
(in thousands)	Operating Leases
2022	$	4,949
2023	3,793
2024	2,683
2025	2,036
2026	1,652
Thereafter	3,090
Total minimum lease payments	$	18,203
Less imputed interest	(1,311)
Total lease liabilities	$	16,892

Rental expense for operating leases was $7.0 million for 2021, $6.1 million for 2020, and $5.5 million for 2019.

Future Lease Commencements

As of December 31, 2021, we have additional operating leases that have not yet commenced in the amount of $4.2 million. These operating leases will commence in fiscal year 2022.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
	December 31,
(in thousands)	2021			2020
Other non-current assets	$	16,744		$	14,144
Accrued liabilities	4,655			3,680
Other long-term liabilities	12,237			10,565
Total operating lease liabilities	$	16,892		$	14,245
Weighted average remaining lease term	5.14 years			5.83 years
Weighted average discount rate	2.83		%	3.04		%

Supplemental cash flow information related to leases was as follows:

	Twelve Months Ended December 31,
(in thousands)	2021	2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	5,013	4,487