XML 35 R22.htm IDEA: XBRL DOCUMENT v3.22.0.1
Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases LEASES
The Company has operating and finance leases for office and manufacturing facilities, machinery, computer hardware, office equipment, and vehicles. Gross assets acquired under finance leases are recorded in Other long-term assets and were $8.3 million as of December 31, 2021. Accumulated amortization associated with finance leases was $0.2 million as of December 31, 2021. Finance leases were not material as of December 31, 2020.
The components and classification of lease cost are as follows (in thousands):
December 31,
2021
December 31,
2020
Finance lease cost:
Amortization of lease assets$223 $
Interest on lease liabilities59 
Finance lease cost282 
Operating lease cost10,729 10,425 
Short-term lease cost (leases with initial term of 12 months or less)137 86 
Variable lease cost2,619 2,615 
Sublease income(1,392)(1,495)
Total lease cost$12,375 $11,639 
Cost of sales$9,642 $9,141 
SG&A1,817 1,803 
RD&E857 694 
Interest expense$59 $
Total lease cost$12,375 $11,639 
(14.)     LEASES (Continued)
The Company’s sublease income is derived primarily from certain real estate leases to several non-affiliated tenants under operating sublease arrangements.
At December 31, 2021, the maturities of operating and finance lease liabilities were as follows (in thousands):
Operating Leases Finance Leases
2022$12,423 $876 
202311,317 888 
202410,809 896 
202510,634 787 
20269,856 640 
Thereafter25,652 5,807 
Gross lease liabilities80,691 9,894 
Less: imputed interest(11,062)(1,836)
Present value of lease liabilities69,629 8,058 
Less: current portion of lease liabilities(9,862)(608)
Total long-term lease liabilities$59,767 $7,450 
As of December 31, 2021, the Company did not have any leases that have not yet commenced.
The following table presents the weighted average remaining lease term and discount rate.
December 31,
2021
December 31,
2020
Weighted-average remaining lease term - operating leases (in years)7.07.0
Weighted-average remaining lease term - finance leases (in years)12.23.8
Weighted-average discount rate - operating leases3.9 %5.3 %
Weighted-average discount rate - finance leases3.5 %2.2 %

Supplemental cash flow information related to leases for fiscal years 2021 and 2020 is as follows (in thousands):
20212020
Cash paid for operating leases$10,808 $10,385 
Cash paid for interest on finance leases59 
Assets acquired under operating leases32,466 9,059 
Assets acquired under finance leases8,154 127 
During the fiscal year ended December 31, 2021, the Company extended the lease terms for three of its manufacturing facilities. As a result of these lease modifications, the Company re-measured the lease liability and adjusted the ROU asset on the modification dates.