Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

We lease office space and equipment under non-cancelable operating and finance leases with various expiration dates, some of which contain renewal options.

The components of lease expense were as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Operating lease cost	$	159	$	182
Short-term lease cost (1)	9		4
Finance lease cost
Amortization of right-of-use assets	305		305
Interest on lease liabilities	179		196
Total finance lease cost	484		501
Total lease costs	$	652	$	687

(1)  Leases that have terms of 12 months or less

The weighted-average remaining lease terms and discount rates were as follows:

	Three Months Ended March 31,
	2022		2021
Weighted-average remaining lease term (in years):
Finance leases	7.1 years		8.1 years
Operating leases	1.6 years		2.3 years
Weighted-average discount rate:
Finance leases	5.04	%	5.04	%
Operating leases	5.75	%	5.75	%

Future minimum lease commitments at March 31, 2022 were as follows (in thousands):

Year Ending December 31,	Operating Leases		Finance Leases
2022 (excluding the three months ended March 31, 2022)	$	429	$	1,619
2023	373		2,202
2024	28		2,258
2025	—		2,314
2026	—		2,372
After 2026	—		5,972
Total lease payments	830		16,737
Less imputed interest	(38)		(2,787)
Total	$	792	$	13,950

Supplemental cash flow information related to leases was as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - operating leases	$	173	$	194
Cash flows from operating activities - finance leases	179		196
Cash flows from financing activities - finance leases	351		321

Leases

Leases

We lease office space and equipment under non-cancelable operating and finance leases with various expiration dates, some of which contain renewal options.

The components of lease expense were as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Operating lease cost	$	159	$	182
Short-term lease cost (1)	9		4
Finance lease cost
Amortization of right-of-use assets	305		305
Interest on lease liabilities	179		196
Total finance lease cost	484		501
Total lease costs	$	652	$	687

(1)  Leases that have terms of 12 months or less

The weighted-average remaining lease terms and discount rates were as follows:

	Three Months Ended March 31,
	2022		2021
Weighted-average remaining lease term (in years):
Finance leases	7.1 years		8.1 years
Operating leases	1.6 years		2.3 years
Weighted-average discount rate:
Finance leases	5.04	%	5.04	%
Operating leases	5.75	%	5.75	%

Future minimum lease commitments at March 31, 2022 were as follows (in thousands):

Year Ending December 31,	Operating Leases		Finance Leases
2022 (excluding the three months ended March 31, 2022)	$	429	$	1,619
2023	373		2,202
2024	28		2,258
2025	—		2,314
2026	—		2,372
After 2026	—		5,972
Total lease payments	830		16,737
Less imputed interest	(38)		(2,787)
Total	$	792	$	13,950

Supplemental cash flow information related to leases was as follows (in thousands):

	Three Months Ended March 31,
	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Cash flows from operating activities - operating leases	$	173	$	194
Cash flows from operating activities - finance leases	179		196
Cash flows from financing activities - finance leases	351		321