Leases |
Leases Lessee The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet were as follows: | | | | | | | | | | | | | | | | | | | | | | | Balance Sheet Location | | March 31, 2022 | | December 31, 2021 | Right-of-use assets | | | | | | | Operating | | Operating right-of-use assets | | $ | 29,506 | | | $ | 29,828 | | Financing | | Property, plant and equipment, net | | 194 | | | 262 | | Total right-of use assets | | | | $ | 29,700 | | | $ | 30,090 | | | | | | | | | Lease liabilities | | | | | | | Operating | | Operating lease liabilities, current and long-term portions | | $ | 32,002 | | | $ | 32,719 | | Financing | | Long-term debt, current and long-term portions | | 319 | | | 351 | | Total lease liabilities | | | | $ | 32,321 | | | $ | 33,070 | |
Operating lease costs are recorded as a single expense on the statement of operations and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated statement of operations for the three months ended March 31, 2022 and 2021 was as follows: | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2022 | | 2021 | Finance lease cost | | | | | | | | Amortization of right-of-use assets | | | | | $ | 35 | | | $ | 35 | | Interest on lease liabilities | | | | | 6 | | | 8 | | Operating lease cost | | | | | 2,807 | | | 2,887 | | Short-term lease cost | | | | | 324 | | | — | | | | | | | | | | | | | | | | | | Total lease cost | | | | | $ | 3,172 | | | $ | 2,930 | |
Other information related to the Company’s leasing activity for the three months ended March 31, 2022 and 2021 is as follows: | | | | | | | | | | | | | | | | | Three months ended March 31, | | | 2022 | | 2021 | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows used for finance leases | | $ | 6 | | | $ | 8 | | Operating cash flows used for operating leases | | $ | 3,202 | | | $ | 2,078 | | Financing cash flows used for finance leases | | $ | 35 | | | $ | 31 | | | | | | | | | | | | Right-of-use assets obtained in exchange for new operating lease liabilities | | $ | 1,995 | | | $ | — | | | | | | | | | | | | Weighted average remaining lease term - finance leases | | 1.4 years | | 2.4 years | Weighted average discount rate - finance leases | | 6.60 | % | | 6.60 | % | Weighted average remaining lease term - operating leases | | 3.4 years | | 3.7 years | Weighted average discount rate - operating leases | | 5.81 | % | | 5.78 | % |
Maturities of the Company’s lease liabilities as of March 31, 2022 are as follows: | | | | | | | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | Total | Remainder of 2022 | | $ | 7,789 | | | $ | 98 | | | $ | 7,887 | | 2023 | | 11,020 | | | 245 | | | 11,265 | | 2024 | | 8,448 | | | — | | | 8,448 | | 2025 | | 3,898 | | | — | | | 3,898 | | 2026 | | 2,872 | | | — | | | 2,872 | | Thereafter | | 1,579 | | | — | | | 1,579 | | Total cash lease payments | | 35,606 | | | 343 | | | 35,949 | | Less: amounts representing interest | | (3,604) | | | (24) | | | (3,628) | | Total lease liabilities | | $ | 32,002 | | | $ | 319 | | | $ | 32,321 | |
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Leases |
Leases Lessee The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet were as follows: | | | | | | | | | | | | | | | | | | | | | | | Balance Sheet Location | | March 31, 2022 | | December 31, 2021 | Right-of-use assets | | | | | | | Operating | | Operating right-of-use assets | | $ | 29,506 | | | $ | 29,828 | | Financing | | Property, plant and equipment, net | | 194 | | | 262 | | Total right-of use assets | | | | $ | 29,700 | | | $ | 30,090 | | | | | | | | | Lease liabilities | | | | | | | Operating | | Operating lease liabilities, current and long-term portions | | $ | 32,002 | | | $ | 32,719 | | Financing | | Long-term debt, current and long-term portions | | 319 | | | 351 | | Total lease liabilities | | | | $ | 32,321 | | | $ | 33,070 | |
Operating lease costs are recorded as a single expense on the statement of operations and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated statement of operations for the three months ended March 31, 2022 and 2021 was as follows: | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | | | | 2022 | | 2021 | Finance lease cost | | | | | | | | Amortization of right-of-use assets | | | | | $ | 35 | | | $ | 35 | | Interest on lease liabilities | | | | | 6 | | | 8 | | Operating lease cost | | | | | 2,807 | | | 2,887 | | Short-term lease cost | | | | | 324 | | | — | | | | | | | | | | | | | | | | | | Total lease cost | | | | | $ | 3,172 | | | $ | 2,930 | |
Other information related to the Company’s leasing activity for the three months ended March 31, 2022 and 2021 is as follows: | | | | | | | | | | | | | | | | | Three months ended March 31, | | | 2022 | | 2021 | Cash paid for amounts included in the measurement of lease liabilities | | | | | Operating cash flows used for finance leases | | $ | 6 | | | $ | 8 | | Operating cash flows used for operating leases | | $ | 3,202 | | | $ | 2,078 | | Financing cash flows used for finance leases | | $ | 35 | | | $ | 31 | | | | | | | | | | | | Right-of-use assets obtained in exchange for new operating lease liabilities | | $ | 1,995 | | | $ | — | | | | | | | | | | | | Weighted average remaining lease term - finance leases | | 1.4 years | | 2.4 years | Weighted average discount rate - finance leases | | 6.60 | % | | 6.60 | % | Weighted average remaining lease term - operating leases | | 3.4 years | | 3.7 years | Weighted average discount rate - operating leases | | 5.81 | % | | 5.78 | % |
Maturities of the Company’s lease liabilities as of March 31, 2022 are as follows: | | | | | | | | | | | | | | | | | | | | | | | Operating Leases | | Finance Leases | | Total | Remainder of 2022 | | $ | 7,789 | | | $ | 98 | | | $ | 7,887 | | 2023 | | 11,020 | | | 245 | | | 11,265 | | 2024 | | 8,448 | | | — | | | 8,448 | | 2025 | | 3,898 | | | — | | | 3,898 | | 2026 | | 2,872 | | | — | | | 2,872 | | Thereafter | | 1,579 | | | — | | | 1,579 | | Total cash lease payments | | 35,606 | | | 343 | | | 35,949 | | Less: amounts representing interest | | (3,604) | | | (24) | | | (3,628) | | Total lease liabilities | | $ | 32,002 | | | $ | 319 | | | $ | 32,321 | |
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