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LEASES

3 Months Ended

Mar. 31, 2023

13. LEASES

The Company has operating leases for office space, manufacturing equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes.

Supplemental cash flow information related to the Company’s operating and finance leases for the three months ended March 31, 2023 and 2022 was as follows:


	March 31,
	2023		2022
Cash paid for operating leases	$	1,407	$	1,185
Cash paid for interest on finance lease obligations	$	108	$	73
Assets acquired under operating leases	$	1,591	$	875
Assets acquired under finance leases	$	—	$	9,471

The Company’s finance lease obligations relate to a manufacturing facility. As of March 31, 2023, finance lease assets of $8,681 are included in property, plant and equipment, net, finance lease obligations of $386 are included in accrued liabilities, and $8,918 are included in long-term debt on the condensed consolidated balance sheet.

The following table presents the maturity of the Company’s operating and finance lease liabilities as of March 31, 2023:


	Operating Leases		Finance Leases
Remainder of 2023		4,048		599
2024		5,008		815
2025		4,105		831
2026		3,561		848
2027		3,022		867
Thereafter		6,830		8,771
Total undiscounted cash flows	$	26,574	$	12,731
Less: present value discount		(2,863)		(3,427)
Total lease liabilities	$	23,711	$	9,304

The Company has operating leases certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $385 during the three months ended March 31, 2023 and is obligated to make payments of $1,161 during the remainder of 2023. Future fixed minimum lease payments under these leases as of March 31, 2023 are $14,489.