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Leases
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Leases Leases
    We have operating leases for our facilities, which have remaining terms ranging from 1 to 5 years. Our leases do not have an option to extend the lease period beyond the stated term unless the new term is agreed by both parties. They also do not have an early termination clause included. Our operating lease agreements do not contain any material restrictive covenants. Some of our operating lease agreements contain variable payment provisions that provide for rental increases based on consumer price indices. The change in rent expense resulting from changes in these indices are included within variable rent.

    We also have finance leases for equipment which have remaining terms ranging from 1 to 4 years. These lease agreements are for general office equipment with a 5-year useful life. These lease agreements do not have an option to extend the lease beyond the stated terms nor do they have an early termination clause. These lease agreements do not have any
variable payment provisions included. The finance lease costs consist of interest expense and amortization, and are included primarily in selling, general and administrative expense in our consolidated statement of operations.

    The discount rate for both our operating and finance leases was not readily determinable in the specific lease agreements. As a result, our incremental borrowing rate was used as the discount rate when establishing the ROU assets and corresponding lease liabilities. As of December 31, 2021, we had no operating or finance leases that have not yet commenced.

Rent expense is recognized on a straight-line basis over the life of the lease. Rent expense consists of the following:
Year Ended
(in thousands)December 31, 2021December 31, 2020
Operating lease costs$2,303 $1,647 
Variable rent costs(188)133 
   Total rent expense$2,115 $1,780 

    Future minimum lease payments under non-cancelable operating and finance leases were as follows as of December 31, 2021:
(in thousands)
Year Ending December 31,Operating LeasesFinance Leases
2022$2,270 $53 
20231,785 53 
20241,293 53 
2025609 48 
2026104 — 
2027 and beyond— — 
   Total future minimum lease payments6,061 207 
   Less: Interest451 11 
     Total lease liabilities$5,610 $196 
Current lease liability$2,101 $48 
Long-term lease liability3,509 148 
   Total lease liabilities$5,610 $196 

    
Other information related to leases is as follows:

Year Ended
(in thousands, except weighted-average data)December 31, 2021December 31, 2020
Finance lease cost:
   Amortization of right-of-use assets$48 $46 
   Interest on lease liabilities
Total finance lease cost$52 $51 
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows from operating leases$2,115 $1,647 
   Finance cash flows from finance leases$48 $53 
Right-of-use assets obtained in exchange for new operating lease liabilities$865 $10,740 
Right-of-use assets obtained in exchange for new finance lease liabilities$— $247 
Weighted-average remaining lease term (years) - operating leases86.3
Weighted-average remaining lease term (years) - finance leases3.94.9
Weighted-average discount rate - operating leases%%
Weighted-average discount rate - finance leases%%
Leases Leases
    We have operating leases for our facilities, which have remaining terms ranging from 1 to 5 years. Our leases do not have an option to extend the lease period beyond the stated term unless the new term is agreed by both parties. They also do not have an early termination clause included. Our operating lease agreements do not contain any material restrictive covenants. Some of our operating lease agreements contain variable payment provisions that provide for rental increases based on consumer price indices. The change in rent expense resulting from changes in these indices are included within variable rent.

    We also have finance leases for equipment which have remaining terms ranging from 1 to 4 years. These lease agreements are for general office equipment with a 5-year useful life. These lease agreements do not have an option to extend the lease beyond the stated terms nor do they have an early termination clause. These lease agreements do not have any
variable payment provisions included. The finance lease costs consist of interest expense and amortization, and are included primarily in selling, general and administrative expense in our consolidated statement of operations.

    The discount rate for both our operating and finance leases was not readily determinable in the specific lease agreements. As a result, our incremental borrowing rate was used as the discount rate when establishing the ROU assets and corresponding lease liabilities. As of December 31, 2021, we had no operating or finance leases that have not yet commenced.

Rent expense is recognized on a straight-line basis over the life of the lease. Rent expense consists of the following:
Year Ended
(in thousands)December 31, 2021December 31, 2020
Operating lease costs$2,303 $1,647 
Variable rent costs(188)133 
   Total rent expense$2,115 $1,780 

    Future minimum lease payments under non-cancelable operating and finance leases were as follows as of December 31, 2021:
(in thousands)
Year Ending December 31,Operating LeasesFinance Leases
2022$2,270 $53 
20231,785 53 
20241,293 53 
2025609 48 
2026104 — 
2027 and beyond— — 
   Total future minimum lease payments6,061 207 
   Less: Interest451 11 
     Total lease liabilities$5,610 $196 
Current lease liability$2,101 $48 
Long-term lease liability3,509 148 
   Total lease liabilities$5,610 $196 

    
Other information related to leases is as follows:

Year Ended
(in thousands, except weighted-average data)December 31, 2021December 31, 2020
Finance lease cost:
   Amortization of right-of-use assets$48 $46 
   Interest on lease liabilities
Total finance lease cost$52 $51 
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
   Operating cash flows from operating leases$2,115 $1,647 
   Finance cash flows from finance leases$48 $53 
Right-of-use assets obtained in exchange for new operating lease liabilities$865 $10,740 
Right-of-use assets obtained in exchange for new finance lease liabilities$— $247 
Weighted-average remaining lease term (years) - operating leases86.3
Weighted-average remaining lease term (years) - finance leases3.94.9
Weighted-average discount rate - operating leases%%
Weighted-average discount rate - finance leases%%