Lease Arrangements (Tables)

12 Months Ended

Dec. 31, 2023

Leases [Abstract]

Components of Operating Lease Expense

For the years ended December 31, 2023, 2022, and 2021 the components of lease expense recorded within Selling, General and Administrative Expenses are as follows:

	Years Ended December 31,
(In thousands of U.S. Dollars)	2023		2022		2021
Operating lease cost:
Amortization of operating lease assets	$	2,677	$	2,734	$	2,791
Interest on operating lease liabilities		768		825		937
Short-term and variable lease costs		507		616		713
Finance lease cost:
Amortization of finance lease assets		398		171	N/A
Interest on finance lease liabilities		45		22	N/A
Total lease cost	$	4,395	$	4,368	$	4,441

Supplemental Cash and Non-Cash Flow Information Related to Leases

For the years ended December 31, 2023, 2022, and 2021, supplemental cash and non-cash information related to leases is as follows:

	Years Ended December 31,
(In thousands of U.S. Dollars)	2023		2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating leases	$	3,675	$	3,783	$	3,839
Finance leases		480		948	N/A
Supplemental disclosure of non-cash leasing activities:
Right-of-use assets obtained in exchange for operating lease obligations		972		3,068		1,047
Right-of-use assets obtained in exchange for finance lease obligations		—		1,990	N/A

Lessee Operating Lease Balance Sheet Amounts and Lines

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

		December 31,
(In thousands of U.S. Dollars)		2023		2022
Assets	Balance Sheet Location
Operating lease right-of-use assets	Property, plant and equipment	$	10,599	$	12,341
Finance lease right-of-use assets	Property, plant and equipment		1,420		1,876
Liabilities	Balance Sheet Location
Operating lease liabilities	Accrued and other liabilities		12,702		14,641
Finance lease liabilities(1)	Accrued and other liabilities		518		1,011

(1)Recorded net of $nil (2022 — $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 December 31, 2023 and 2022, the weighted-average remaining lease term and weighted-average interest rate associated with the Company’s leases are as follows:

	December 31,
	2023			2022
Operating leases:
Weighted-average remaining lease term (years)		4.9			6.0
Weighted-average discount rate		5.85	%		5.90	%
Finance leases:
Weighted-average remaining lease term (years)		3.6			4.7
Weighted-average discount rate		6.0	%		6.0	%

Lessee Operating and Finance Lease, Maturity

As of December 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
2024	$	2,740		$	535
2025		2,544			—
2026		2,482			—
2027		2,481			—
2028		2,484			—
Thereafter		2,167			—
Total lease payments		14,898			535
Less: interest expense		(2,196	)		(17	)
Present value of lease liabilities	$	12,702		$	518

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 December 31, 2023 balance sheet date:

(In thousands of U.S. Dollars)	Sales-Type Leases		Joint Revenue Sharing Arrangements
2024	$	3,222	$	71
2025		3,112		27
2026		3,031		—
2027		2,965		—
2028		2,813		—
Thereafter		9,307		—
Total	$	24,450	$	98