Leases

6 Months Ended

Jun. 30, 2022

Leases [Abstract]

Leases

NOTE 11 – Leases

The Company leases certain assets used in its business, including land, buildings and equipment. These leased assets are used for operational and administrative purposes.

The components of lease expense are set forth in the table below:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Operating lease expense	$	3,349	$	4,149	$	6,859	$	8,384
Finance lease expense:
Amortization of assets		3		2		5		213
Interest on lease liabilities		–		–		–		1
Short-term lease expense		256		246		526		491
Variable lease expense		862		1,161		1,837		2,290
Total lease expense	$	4,470	$	5,558	$	9,227	$	11,379

The table below sets forth supplemental balance sheet information related to leases. In our condensed consolidated balance sheets, right of use (“ROU”) assets are included in other long-term assets while lease liabilities are located in accrued liabilities and other for the current portion and other long-term liabilities for the non-current portion:

	June 30, 2022			December 31, 2021
Operating leases:
Operating lease ROU assets	$	44,365		$	49,703
Current operating lease liabilities		9,062			11,199
Noncurrent operating lease liabilities		19,160			22,291
Total operating lease liabilities	$	28,222		$	33,490
Finance leases:
Finance lease ROU assets	$	2,557		$	2,561
Accumulated amortization		(2,534	)		(2,524	)
Finance lease ROU assets, net	$	23		$	37
Current finance lease liabilities	$	9		$	15
Non-current finance lease liabilities		13			23
Total finance lease liabilities	$	22		$	38
Weighted average remaining lease term (in years):
Operating leases		7.1			6.9
Finance leases		2.1			2.3
Weighted average discount rate:
Operating leases		4.0	%		4.0	%
Finance leases		3.7	%		3.7	%

The table below sets forth supplemental cash flow and other information related to leases:

	Six Months Ended
	June 30, 2022		June 30, 2021
Cash paid for the amounts included in the measurements of lease liabilities:
Operating cash outflows from operating leases	$	9,494	$	10,973
Operating cash outflows from finance leases		–		1
Financing cash outflow from finance leases		12		151
ROU assets obtained in exchange for lease liabilities incurred:
Operating leases		2,186		12,265

The table below sets forth information about lease liability maturities:

	June 30, 2022
	Operating Leases			Finance Leases
2022	$	6,020		$	10
2023		7,522			8
2024		4,734			4
2025		4,139			1
2026		2,711			-
2027		657			-
2028 and thereafter		7,873			-
Total lease payments		33,656			23
Less: imputed interest		(5,434	)		(1	)
Total lease obligations		28,222			22
Less: current obligations		(9,062	)		(9	)
Long-term lease obligations	$	19,160		$	13