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Leases
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Leases Leases
The Company has leases for corporate offices, manufacturing facilities, vehicles, and certain equipment. Such leases do not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees.
Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate):
Operating LeasesFinance Leases
December 31,December 31,
2023202220232022
Assets
Right of use asset$2,132$3,400$$
Property and equipment, net5198
Total assets$2,132$3,400$51$98
Liabilities
Other current liabilities$1,495$1,391$53$49
Other liabilities8932,381557
Total liabilities$2,388$3,772$58$106
Weighted-average remaining lease term (years)2.02.81.12.1
Weighted-average discount rate8.3 %8.3 %8.3 %8.3 %
Information related to lease costs are as follows (amounts in thousands):
Year Ended December 31,
202320222021
Operating lease cost$1,532 $1,620 $1,327 
Amortization of finance lease ROU assets47 47 43 
Interest expense on finance lease liabilities10 13 
Maturities of lease liabilities are as follows (amounts in thousands):
Year Ending December 31,Operating LeasesFinance LeasesTotal
2024$1,623 $55 $1,678 
2025506 511 
2026419 — 419 
202735 — 35 
2028— — — 
Thereafter— — — 
Total lease payments2,583 60 2,643 
Less: imputed interest(195)(2)(197)
Lease liability$2,388 $58 $2,446 
Asset Retirement Obligations
Certain lease agreements require the Company to return designated areas of leased space to its original condition upon termination of the lease agreement, for which the Company records an asset retirement obligation and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. In subsequent periods, the asset retirement obligation is accreted for the change in its present value and the capitalized asset is depreciated, both over the term of the associated lease
agreement. Asset retirement obligations of $1.2 million are included in other liabilities in the consolidated balance sheets as of both December 31, 2023 and 2022.
Leases Leases
The Company has leases for corporate offices, manufacturing facilities, vehicles, and certain equipment. Such leases do not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees.
Supplemental balance sheet information related to the Company’s leases, including the financial statement caption in which the amounts are presented, is as follows (amounts in thousands, except lease term and discount rate):
Operating LeasesFinance Leases
December 31,December 31,
2023202220232022
Assets
Right of use asset$2,132$3,400$$
Property and equipment, net5198
Total assets$2,132$3,400$51$98
Liabilities
Other current liabilities$1,495$1,391$53$49
Other liabilities8932,381557
Total liabilities$2,388$3,772$58$106
Weighted-average remaining lease term (years)2.02.81.12.1
Weighted-average discount rate8.3 %8.3 %8.3 %8.3 %
Information related to lease costs are as follows (amounts in thousands):
Year Ended December 31,
202320222021
Operating lease cost$1,532 $1,620 $1,327 
Amortization of finance lease ROU assets47 47 43 
Interest expense on finance lease liabilities10 13 
Maturities of lease liabilities are as follows (amounts in thousands):
Year Ending December 31,Operating LeasesFinance LeasesTotal
2024$1,623 $55 $1,678 
2025506 511 
2026419 — 419 
202735 — 35 
2028— — — 
Thereafter— — — 
Total lease payments2,583 60 2,643 
Less: imputed interest(195)(2)(197)
Lease liability$2,388 $58 $2,446 
Asset Retirement Obligations
Certain lease agreements require the Company to return designated areas of leased space to its original condition upon termination of the lease agreement, for which the Company records an asset retirement obligation and a corresponding capital asset in an amount equal to the estimated fair value of the obligation. In subsequent periods, the asset retirement obligation is accreted for the change in its present value and the capitalized asset is depreciated, both over the term of the associated lease
agreement. Asset retirement obligations of $1.2 million are included in other liabilities in the consolidated balance sheets as of both December 31, 2023 and 2022.