Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Schedule of Operating and Finance leases recorded in Consolidated Balance Sheet
Operating and finance lease amounts from continuing operations are as follows (in thousands):
Year Ended December 31,
Classification Financial Statement Line Item 2023 2022
Operating lease assets Right-of-use assets, operating leases $ 27,784  $ 29,142 
Finance lease assets Property, plant and equipment, net 1,543  1,494 
Current liabilities Current portion of lease liabilities, operating leases 1,140  1,015 
Current liabilities Current portion of lease liabilities, finance leases 292  280 
Non-current liabilities Non-current portion of lease liabilities, operating leases 29,729  30,869 
Non-current liabilities Non-current portion of lease liabilities, finance leases $ 1,307  $ 1,242 
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) 2023 2022
Operating lease cost1
$ 3,945  $ 4,108 
Finance lease cost:
Reduction in carrying amount of right-of-use assets 334  273 
Interest on finance lease liabilities 85  36 
Sublease income (394) (187)
Total lease cost $ 3,970  $ 4,230 
1Includes short term leases, which are immaterial
Year Ended December 31,
2023 2022
Weighted-average discount rate
Operating leases 8.33  % 8.27  %
Finance leases 5.92  % 2.32  %
Weighted-average remaining lease term
Operating leases 12.67 years 13.59 years
Finance leases 5.07 years 6.06 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, 2023 are as follows:
(in thousands) Operating Finance
2024 $ 3,651  $ 367 
2025 3,671  361 
2026 3,691  361 
2027 3,765  361 
2028 3,840  303 
Thereafter 32,312  85 
Total undiscounted minimum future lease payments 50,930  1,838 
Imputed Interest (20,061) (239)
Total lease liabilities $ 30,869  $ 1,599 
Schedule of Maturities For Finance Leases After Adoption of 842
The amounts of undiscounted future minimum lease payments under leases as of December 31, 2023 are as follows:
(in thousands) Operating Finance
2024 $ 3,651  $ 367 
2025 3,671  361 
2026 3,691  361 
2027 3,765  361 
2028 3,840  303 
Thereafter 32,312  85 
Total undiscounted minimum future lease payments 50,930  1,838 
Imputed Interest (20,061) (239)
Total lease liabilities $ 30,869  $ 1,599