Lease Arrangements (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Components of Operating Lease Expense

For the three months ended March 31, 2023 and 2022, the components of lease expense recorded within Selling, General and Administrative Expenses are as follows:

	Three Months Ended March 31,
(In thousands of U.S. Dollars)	2023		2022
Operating lease cost:
Amortization of operating lease assets	$	151	$	693
Interest on operating lease liabilities		724		215
Short-term and variable lease costs		204		160
Finance lease cost:
Amortization of finance lease assets		100	N/A
Interest on finance lease liabilities		14	N/A
Total lease cost	$	1,193	$	1,068

Supplemental Cash and Non-Cash Flow Information Related to Leases

For the three months ended March 31, 2023 and 2022, supplemental cash and non-cash information related to leases is as follows:

	Three Months Ended March 31,
(In thousands of U.S. Dollars)		2023			2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$		971	$		945
Finance leases	$		—		N/A
Supplemental disclosure of noncash leasing activities:
Right-of-use assets obtained in exchange for operating lease obligations	$		228	$		217
Right-of-use assets obtained in exchange for finance lease obligations	$		—		N/A

Lessee Operating Lease Balance Sheet Amounts and Lines

As of March 31, 2023 and December 31, 2022, supplemental balance sheet information related to leases is as follows:

		March 31,		December 31,
(In thousands of U.S. Dollars)		2023		2022
Assets	Balance Sheet Location
Operating lease right-of-use assets	Property, plant and equipment	$	11,888	$	12,341
Finance lease right-of-use assets	Property, plant and equipment	$	1,776	$	1,876
Liabilities	Balance Sheet Location
Operating lease liabilities	Accrued and other liabilities	$	14,140	$	14,461
Finance lease liabilities(1)	Accrued and other liabilities	$	967	$	1,011

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

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

As of March 31, 2023 and December 31, 2022, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s leases are as follows:

	March 31,		December 31,
	2023		2022
Operating leases:
Weighted-average remaining lease term (years)		5.8		6.0
Weighted-average discount rate	5.91%		5.90%
Finance leases:
Weighted-average remaining lease term (years)		4.4		4.7
Weighted-average discount rate	6.00%		6.00%

Lessee Operating and Finance Lease, Maturity

As of March 31, 2023, the maturities of the Company’s operating and finance lease liabilities are as follows:

(In thousands of U.S. Dollars)	Operating Leases			Finance Leases
2023 (nine months remaining)	$	2,699		$	508
2024		3,049			508
2025		2,457			—
2026		2,069			—
2027		2,093			—
Thereafter		4,354			—
Total lease payments	$	16,721		$	1,016
Less: interest expense		(2,581	)		(49	)
Present value of lease liabilities	$	14,140		$	967

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 March 31, 2023 balance sheet date:

	Sales-Type		Joint Revenue
(In thousands of U.S. Dollars)	Leases		Sharing Arrangements
2023 (nine months remaining)	$	2,260	$	130
2024		3,519		69
2025		3,248		27
2026		3,163		—
2027		3,018		—
Thereafter		16,889		—
Total	$	32,097	$	226