Lease Arrangements (Tables)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Components of Operating Lease Expense

For the three and six months ended June 30, 2022 and 2021, the components of operating lease expense recorded within Selling, General and Administrative expenses are as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands of U.S. Dollars)	2022		2021		2022		2021
Operating lease cost(1)	$	168	$	211	$	328	$	383
Amortization of operating lease assets		669		666		1,362		1,414
Interest on operating lease liabilities		201		231		416		473
Total lease cost	$	1,038	$	1,108	$	2,106	$	2,270

(1)Includes short-term leases and variable lease costs, which are not significant for the three and six months ended June 30, 2022 and 2021.

Supplemental Cash and Non-Cash Flow Information Related to Leases

For the six months ended June 30, 2022 and 2021, supplemental cash and non-cash information related to leases is as follows:

	Six Months Ended June 30,
(In thousands of U.S. Dollars)		2022			2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$		1,679	$		1,929
Finance leases			890		N/A
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for operating lease obligations	$		622	$		928
Right-of-use assets obtained in exchange for finance lease obligations			950		N/A

Lessee Operating Lease Balance Sheet Amounts and Lines

As of June 30, 2022 and December 31, 2021, supplemental balance sheet information related to leases is as follows:

		June 30,		December 31,
(In thousands of U.S. Dollars)		2022		2021
Assets	Balance Sheet Location
Operating lease right-of-use assets	Property, plant and equipment	$	11,342	$	12,132
Finance lease right-of-use assets	Property, plant and equipment		950	N/A
Liabilities	Balance Sheet Location
Operating lease liabilities	Accrued and other liabilities	$	13,964	$	14,691
Finance lease liabilities(1)	Accrued and other liabilities		60	N/A

(1)Recorded net of a $0.9 million upfront payment made upon execution of the finance lease arrangement.

Lessee Operating Leases Weighted Average Remaining Lease Term and Weighted Average Interest Rate

As of June 30, 2022 and December 31, 2021, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s operating leases are as follows:

	June 30,			December 31,
	2022			2021
Operating leases:
Weighted-average remaining lease term (years)		6.6			7.0
Weighted-average discount rate		5.99	%		5.97	%
Finance leases:
Weighted-average remaining lease term (years)		5.0		N/A
Weighted-average discount rate		6.00	%	N/A

Lessee Operating and Finance Lease, Maturity

As of June 30, 2022, the maturities of the Company’s operating and finance lease liabilities are as follows:

(In thousands of U.S. Dollars)	Operating Leases			Finance Leases
2022 (six months remaining)	$	1,575		$	—
2023		2,468			60
2024		2,256			—
2025		2,111			—
2026		2,095			—
Thereafter		6,547			—
Total lease payments	$	17,052		$	60
Less: interest expense		(3,088	)		—
Present value of lease liabilities	$	13,964		$	60

Schedule of Maturities of Lease Receivables

The following lease payments are expected to be received by the Company for its sales-type leases and joint revenue sharing arrangements in each of the next five years and thereafter following the June 30, 2022 balance sheet date:

	Sales-Type		Joint Revenue
(In thousands of U.S. Dollars)	Leases		Sharing Arrangements
2022 (six months remaining)	$	1,734	$	95
2023		3,031		128
2024		2,914		—
2025		2,768		—
2026		2,558		—
Thereafter		15,433		—
Total	$	28,438	$	223