Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Schedule of Operating and Finance Leases Recorded in Consolidated Balance Sheet
Operating and finance lease amounts from continuing operations included in the unaudited condensed consolidated balance sheet are as follows (in thousands):
Classification Financial Statement Line Item June 30, 2023 December 31, 2022
Long-term Assets Right-of-use assets, operating leases $ 28,509  $ 29,198 
Long-term Assets Property, plant and equipment 1,554  1,494 
Current liabilities Current portion of lease liabilities, operating leases 1,093  1,029 
Current liabilities Current portion of lease liabilities, finance leases 283  280 
Non-current liabilities Non-current portion of lease liabilities, operating leases 30,338  30,911 
Non-current liabilities Non-current portion of lease liabilities, finance leases 1,313  1,242 
Schedule of Operating and Finance Leases Discount Rates, Total Lease Cost and Weighted Average Remaining Lease Terms
Individual components of the total lease cost incurred by the Company are as follows:
Three Months Ended June 30, Six Months Ended June 30,
(in thousands) 2023 2022 2023 2022
Operating lease cost1
$ 997  $ 1,043  $ 1,996  $ 2,091 
Finance lease cost:
Amortization of right-of-use assets 86  69  164  136 
Interest on finance lease liabilities 24  38  18 
Sublease income (91) (32) (182) (65)
Total lease cost $ 1,016  $ 1,089  $ 2,016  $ 2,180 
1Includes short term leases, which are immaterial
Weighted-average remaining lease term June 30, 2023 December 31, 2022
Operating leases 13.14 years 13.61 years
Finance leases 5.50 years 6.06 years
Weighted-average discount rate
Operating leases 8.32  % 8.31  %
Finance leases 5.87  % 2.32  %
Schedule of Maturities For Sub Leases
Future expected cash receipts from the Company's sublease as of June 30, 2023 are as follows:
(in thousands) Sublease Receipts
Remainder of 2023 $ 182 
2024 370 
2025 377 
2026 385 
2027 392 
Thereafter 3,786 
Total sublease receipts $ 5,492 
Schedule of Maturities For Operating Leases
The amounts of undiscounted future minimum lease payments under leases in continuing operations as of June 30, 2023 are as follows:
(in thousands) Operating Finance
Remainder of 2023 $ 1,815  $ 211 
2024 3,667  343 
2025 3,687  326 
2026 3,703  326 
2027 3,765  326 
Thereafter 36,152  354 
Total undiscounted minimum future lease payments 52,789  1,886 
Imputed interest (21,358) (290)
Present value of lease liabilities $ 31,431  $ 1,596 
Schedule of Maturities For Finance Leases
The amounts of undiscounted future minimum lease payments under leases in continuing operations as of June 30, 2023 are as follows:
(in thousands) Operating Finance
Remainder of 2023 $ 1,815  $ 211 
2024 3,667  343 
2025 3,687  326 
2026 3,703  326 
2027 3,765  326 
Thereafter 36,152  354 
Total undiscounted minimum future lease payments 52,789  1,886 
Imputed interest (21,358) (290)
Present value of lease liabilities $ 31,431  $ 1,596