Leases (Tables)

3 Months Ended

Mar. 31, 2023

Leases [Abstract]

Components of Lease Costs

Components of the Company’s lease costs were as follows (in thousands):

	For The Three Months Ended March 31,
	2023		2022
Operating lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations	$	393	$	353
Finance lease cost:
Amortization of assets, included in General & Administrative expenses on the Consolidated Statements of Operations		645		646
Interest on lease liabilities, included in Interest expense on the Consolidated Statements of Operations		227		249
Total finance lease cost	$	872	$	895
Variable lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations	$	409	$	186
Short-term lease cost, included in General & Administrative expenses on the Consolidated Statements of Operations	$	30	$	32

Supplemental Balance Sheet Information Related to Operating and Financing Leases

Supplemental balance sheet information related to the Company’s operating and financing leases were as follows (in thousands):

Operating Leases	March 31, 2023		December 31, 2022
Right of use assets	$	7,563	$	7,335
Lease liability	$	8,890	$	8,690
Finance Leases
Right of use assets	$	19,490	$	20,132
Lease liability	$	22,012	$	22,557

Weighted-Average Remaining Lease Term and Discount Rate for Operating and Financing Leases

Weighted-average remaining lease term and discount rate for the Company’s operating and financing leases for the periods presented below were as follows:

Weighted-average remaining lease term	March 31, 2023			December 31, 2022
Operating lease		6.31	yrs.		6.49	yrs.
Finance lease		7.90	yrs.		8.13	yrs.
Weighted-average discount rate
Operating lease		4.9	%		5.14	%
Finance lease		4.2	%		4.16	%

Maturities of Lease Liabilities by Fiscal Year for Operating and Financing Leases

Maturities of lease liabilities by fiscal year for the Company’s operating and financing leases were as follows (in thousands):

	Financing Lease			Operating Lease
2023	$	2,316		$	1,243
2024		3,101			1,656
2025		3,166			1,548
2026		3,197			1,558
2027		3,190			1,595
2028 and thereafter		10,920			2,846
Total lease payments		25,890			10,446
Less: imputed interest		(3,878	)		(1,556	)
Present value of lease liabilities	$	22,012		$	8,890