Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of Operating and Finance leases recorded in Consolidated Balance Sheet
Operating and finance lease amounts included in the consolidated balance sheet are as follows (in thousands):
Year Ended December 31,
Classification Financial Statement Line Item 2022 2021
Operating lease assets Right-of-use assets, operating leases $ 29,224  $ 30,811 
Finance lease assets Property, plant and equipment, net 1,494  1,640 
Current liabilities Current portion of lease liabilities, operating leases 1,056  1,104 
Current liabilities Current portion of lease liabilities, finance leases 280  233 
Non-current liabilities Non-current portion of lease liabilities, operating leases 30,911  32,059 
Non-current liabilities Non-current portion of lease liabilities, finance leases $ 1,242  $ 1,414 
Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Leases
Individual components of the total lease cost incurred by the Company are as follows:
Year Ended December 31,
(in thousands) 2022 2021
Operating lease cost1
$ 4,151  $ 4,099 
Finance lease cost:
Reduction in carrying amount of right-of-use assets 273  100 
Interest on finance lease liabilities 36  11 
Sublease income (187) — 
Total lease cost $ 4,273  $ 4,210 
1Includes short term leases, which are immaterial
Year Ended December 31,
2022 2021
Weighted-average discount rate
Operating leases 8.31  % 8.30  %
Finance leases 2.32  % 2.27  %
Weighted-average remaining lease term
Operating leases 13.61 years 14.43 years
Finance leases 6.06 years 7.07 years
Schedule of Maturities For Operating Leases After Adoption of 842
The amounts of undiscounted future minimum lease payments under leases as of December 31, 2022 are as follows:
(in thousands) Operating Finance
2023 $ 3,645  $ 311 
2024 3,667  257 
2025 3,687  244 
2026 3,703  244 
2027 3,765  244 
Thereafter 36,151  327 
Total undiscounted minimum future lease payments 54,618  1,627 
Imputed Interest (22,651) (105)
Total lease liabilities $ 31,967  $ 1,522 
Schedule of Maturities For Finance Leases After Adoption of 842
The amounts of undiscounted future minimum lease payments under leases as of December 31, 2022 are as follows:
(in thousands) Operating Finance
2023 $ 3,645  $ 311 
2024 3,667  257 
2025 3,687  244 
2026 3,703  244 
2027 3,765  244 
Thereafter 36,151  327 
Total undiscounted minimum future lease payments 54,618  1,627 
Imputed Interest (22,651) (105)
Total lease liabilities $ 31,967  $ 1,522