Leases (Notes)

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has entered into contractual lease arrangements to rent office space and equipment from third-party lessors. See Note 5 to the consolidated financial statements in our 2021 Annual Report.

    As of June 30, 2022, the Company had net operating lease right-of-use (“ROU”) assets of $5.0 million and net finance lease right-of-use assets of $0.2 million. At June 30, 2022, our operating lease liabilities were $6.2 million and our finance lease liabilities were $0.1 million.

The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of June 30, 2022 were 4.25 years and 4.0%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of June 30, 2022 were 2.45 years and 5.2%, respectively. The Company's uses the discount rates implicit in each lease, or an estimate of the Company's incremental borrowing rate if the rate implicit in a lease cannot be readily determined.

    As of June 30, 2022 and December 31, 2021 our leased assets and liabilities consisted of the following (in thousands):

Leases	Classification	June 30, 2022		December 31, 2021
Right-of-use assets
Operating leases	Other assets	$	4,972	$	4,625
Finance leases	Property and equipment, net	154		180
Total right-of-use assets		$	5,126	$	4,805
Current portion of lease liabilities
Operating leases	Accrued expenses	$	1,612	$	1,493
Finance leases	Current portion of finance leases	56		68
Long-term portion of lease liabilities
Operating leases	Other long-term liabilities	4,558		4,318
Finance leases	Finance leases, excluding current portion	57		66
Total lease liabilities		$	6,283	$	5,945

As of June 30, 2022 the Company's minimum future lease payments on operating and financing leases were as follows (in thousands):

	June 30, 2022
Maturity of lease liabilities	Operating Leases		Financing Leases
Remaining 2022	$	1,045	$	33
2023	1,650		52
2024	1,523		26
2025	994		6
2026	701		5
Thereafter	918		1
Total minimum lease payments	$	6,831	$	123
Imputed interest	(661)		(10)
Present value of minimum lease payments	$	6,170	$	113