Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.22.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Lease Expense and Other Information Lease expense and other information consisted of the following for the three and six months ended June 30, 2022 (in thousands, except terms and rates):
Three Months
Ended
June 30,2022		 Six Months
Ended
June 30,2022
Lease expense
Finance lease expense:
Amortization of right-of-use assets $ 2,186  $ 4,419 
Interest on lease liabilities 227  431 
Operating lease expense 1,417  2,834 
Short-term lease expense 9  18 
Total lease expense $ 3,839  $ 7,702 
Other information
Finance leases:
Operating cash outflow from finance leases $ 227  $ 431 
Financing cash outflow from finance leases $ 2,284  $ 4,460 
Finance lease liabilities arising from obtaining finance lease right-of-use assets $ 1,297  $ 3,324 
Operating leases:
Operating cash outflow from operating leases $ 1,142  $ 1,983 
Other information as of June 30, 2022
Finance leases:
Weighted-average remaining lease term (years) 1.7
Weighted-average discount rate lease term 6.9  %
Operating leases:
Weighted-average remaining lease term (years) 10.6
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 June 30, 2022 are as follows (in thousands):
Years ending December 31,
Remaining 2022 $ 2,559 
2023 5,404 
2024 5,539 
2025 5,677 
2026 5,819 
Thereafter 38,666 
Total 63,664 
Less imputed interest (11,834)
Present value of operating lease obligations $ 51,830 
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 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 June 30, 2022 were as follows (in thousands):
Years ending December 31,
Remaining 2022 $ 5,020 
2023 6,007 
2024 3,295 
2025 609 
2026 — 
Thereafter — 
Total 14,931 
Less amounts representing interest (1,024)
Present value of finance lease obligations $ 13,907