Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.1
Leases (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Lease Expense and Other Information
Lease expense and other information consisted of the following for the three months ended March 31, 2022 (in thousands, except terms and rates):
Lease expense
Finance lease expense:
Amortization of right-of-use assets $ 2,233 
Interest on lease liabilities 204 
Operating lease expense 1,417 
Short-term lease expense 9 
Total lease expense $ 3,863 
Other information
Finance leases:
Operating cash outflow from finance leases $ 204 
Financing cash outflow from finance leases $ 2,176 
Finance lease liabilities arising from obtaining finance lease right-of-use assets $ 2,027 
Weighted-average remaining lease term (years) 1.7
Weighted-average discount rate lease term 6.3  %
Operating leases:
Operating cash outflow from operating leases $ 841 
Weighted-average remaining lease term (years) 10.8
Weighted-average discount rate lease term 3.9  %
Operating Lease Liability Maturity
Future maturities of remaining lease payments included in the measurement of operating lease as of March 31, 2022 are as follows (in thousands):
Years ending December 31,
Remaining 2022 $ 3,701 
2023 5,404 
2024 5,539 
2025 5,677 
2026 5,819 
Thereafter 38,667 
Total 64,807 
Less imputed interest 12,338 
Present value of operating lease obligations $ 52,469 
Future Minimum Rental Payments for Operating Leases Under ASC 840
As previously disclosed in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021, the following table summarizes summarizes the future minimum lease payments related to operating leases as of December 31, 2021 under ASC 840 (in thousands):
Years ending December 31,
2022 $ 4,407 
2023 5,404 
2024 5,539 
2025 5,677 
2026 5,819 
Thereafter 38,666 
Total $ 65,512 
Finance Lease Liability Maturity Future minimum lease payments for the Company’s finance leases as of March 31, 2022 were as follows (in thousands):
Years ending December 31,
Remaining 2022 $ 7,315 
2023 5,437 
2024 2,862 
2025 251 
2026 — 
Thereafter — 
Total 15,865 
Less amounts representing interest (971)
Present value of finance lease obligations $ 14,894