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Leases (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of finance and operating lease asset and liability balances

As of December 31, 2021 and 2022, the Company’s finance and operating lease asset and liability balances were as follows (in thousands):


		2021			2022
Finance leases:
Land, property and equipment, gross		$	5,617		$	5,703
Accumulated depreciation			(2,646)			(2,895)
Land, property and equipment, net		$	2,971		$	2,808

Current portion of finance lease obligations		$	846		$	948
Long-term portion of finance lease obligations			2,427			2,134
Total finance lease liabilities		$	3,273		$	3,082

Operating leases:
Operating lease right-of-use assets		$	42,537		$	52,586

Current portion of operating lease obligations		$	3,551		$	4,206
Long-term portion of operating lease obligations			39,431			48,911
Total operating lease liabilities		$	42,982		$	53,117

Schedule of components of lease expense for finance and operating lease liabilities and supplemental information

The components of lease expense for finance and operating leases consisted of the following (in thousands):


		Year Ended December 31,
		2021			2022
Finance leases:
Depreciation on assets under finance leases		$	809		$	877
Interest on lease liabilities			181			164
Total finance leases expense		$	990		$	1,041

Operating leases:
Lease expense		$	7,313		$	8,800
Lease expense on short-term leases			205			513
Variable lease expense			3,321			4,306
Sublease income			(726)			(636)
Total operating leases expense		$	10,113		$	12,983

Supplemental information on finance and operating leases is as follows (dollars in thousands):


		Year Ended December 31,
		2021			2022
Operating cash outflows from finance leases		$	181		$	164
Operating cash outflows from operating leases		$	5,804		$	6,582
Financing cash outflows from finance leases		$	789		$	945

Assets obtained in exchange for new finance lease liabilities ⁽¹⁾		$	879		$	774
ROU assets obtained in exchange for operating lease liabilities ⁽¹⁾		$	19,515		$	13,449


		December 31,		December 31,
		2021		2022
Weighted-average remaining lease term - finance leases		2.87 years		2.34 years
Weighted-average remaining lease term - operating leases		12.31 years		11.29 years

Weighted-average discount rate - finance leases		5.22%		5.71%
Weighted-average discount rate - operating leases		7.55%		8.44%

(1)	These amounts are excluded from the accompanying consolidated statements of cash flows as they are non-cash investing, operating and/or financing activities.

Schedule of maturities of operating lease liabilities

The following schedule represents the Company’s maturities of finance and operating lease liabilities as of December 31, 2022 (in thousands):


Fiscal Year		Finance Leases			Operating Leases
2023		$	1,094		$	8,129
2024			1,515			8,138
2025			610			8,137
2026			130			8,008
2027			—			7,874
Thereafter			—			43,833
Total minimum lease payments			3,349			84,119
Less amount representing interest			(267)			(31,002)
Present value of lease liabilities		$	3,082		$	53,117

Schedule of maturities of finance lease liabilities


Fiscal Year		Finance Leases			Operating Leases
2023		$	1,094		$	8,129
2024			1,515			8,138
2025			610			8,137
2026			130			8,008
2027			—			7,874
Thereafter			—			43,833
Total minimum lease payments			3,349			84,119
Less amount representing interest			(267)			(31,002)
Present value of lease liabilities		$	3,082		$	53,117

Schedule of maturities of lease receivables

The following schedule represents the Company’s maturities of lease receivables as of December 31, 2022 (in thousands):


Fiscal Year:
2023		$	962
2024			962
2025			962
2026			985
2027			1,105
Thereafter			1,267
Total minimum lease payments			6,243
Less amount representing interest			(1,487)
Present value of lease receivables		$	4,756