Leases

3 Months Ended

Mar. 31, 2022

Leases [Abstract]

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended March 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	13	$	17
Interest on lease liabilities	1		1
Operating lease cost	1,497		1,233
Short-term lease cost	299		214
Variable lease cost	109		116
Total lease cost	$	1,919	$	1,581

Rent expense for the three months ended March 31, 2022 and 2021 was immaterial.

Maturities of operating lease liabilities were as follows:

Future Minimum Lease Payments
(in thousands)	March 31, 2022			December 31, 2021
2022	$	4,077	*	$	4,949
2023	4,245			3,793
2024	3,154			2,683
2025	2,531			2,036
2026	2,110			1,652
Thereafter	3,089			3,090
Total minimum lease payments	$	19,206		$	18,203
Less imputed interest	(1,303)			(1,311)
Total operating lease liabilities	$	17,903		$	16,892
*Period ended March 31, 2022 represents the remaining nine months of 2022.

Future Lease Commencements

As of March 31, 2022, there are additional operating leases, primarily for office equipment, autos and forklifts, that have not yet commenced in the amount of $0.7 million. These operating leases will commence in fiscal year 2022 with lease terms of 1 to 5 years.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	March 31, 2022			December 31, 2021
Other non-current assets	$	17,797		$	16,744
Accrued liabilities	4,762			4,655
Other long-term liabilities	13,141			12,237
Total operating lease liabilities	$	17,903		$	16,892
Weighted Average Remaining Lease Term	5.05 years			5.14 years
Weighted Average Discount Rate	2.88		%	2.83		%

Supplemental Cash Flow information related to leases was as follows:

	Three Months Ended March 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,355	$	1,121

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The finance leases currently held are considered immaterial. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended March 31,
(in thousands)	2022		2021
Finance lease cost:
Amortization of right-of-use assets	$	13	$	17
Interest on lease liabilities	1		1
Operating lease cost	1,497		1,233
Short-term lease cost	299		214
Variable lease cost	109		116
Total lease cost	$	1,919	$	1,581

Rent expense for the three months ended March 31, 2022 and 2021 was immaterial.

Maturities of operating lease liabilities were as follows:

Future Minimum Lease Payments
(in thousands)	March 31, 2022			December 31, 2021
2022	$	4,077	*	$	4,949
2023	4,245			3,793
2024	3,154			2,683
2025	2,531			2,036
2026	2,110			1,652
Thereafter	3,089			3,090
Total minimum lease payments	$	19,206		$	18,203
Less imputed interest	(1,303)			(1,311)
Total operating lease liabilities	$	17,903		$	16,892
*Period ended March 31, 2022 represents the remaining nine months of 2022.

Future Lease Commencements

As of March 31, 2022, there are additional operating leases, primarily for office equipment, autos and forklifts, that have not yet commenced in the amount of $0.7 million. These operating leases will commence in fiscal year 2022 with lease terms of 1 to 5 years.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	March 31, 2022			December 31, 2021
Other non-current assets	$	17,797		$	16,744
Accrued liabilities	4,762			4,655
Other long-term liabilities	13,141			12,237
Total operating lease liabilities	$	17,903		$	16,892
Weighted Average Remaining Lease Term	5.05 years			5.14 years
Weighted Average Discount Rate	2.88		%	2.83		%

Supplemental Cash Flow information related to leases was as follows:

	Three Months Ended March 31,
(in thousands)	2022		2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,355	$	1,121