Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.3
Leases (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Lease Expense and Other Information Components of lease expense and other information for the periods presented are summarized as follows (in thousands, except terms and rates):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Lease expense
Finance lease expense:
Amortization of right-of-use assets $ 1,823  $ 2,048  $ 5,571  $ 6,467 
Interest on lease liabilities 290  237  851  667 
Operating lease expense 1,423  1,417  4,268  4,252 
Short-term lease expense 2  3  13  21 
Total lease expense $ 3,538  $ 3,705  $ 10,703  $ 11,407 
Supplemental cash flow information
Finance leases:
Operating cash outflow from finance leases $ 290  $ 237  $ 851  $ 667 
Financing cash outflow from finance leases $ 1,859  $ 2,234  $ 5,666  $ 6,694 
Finance lease liabilities arising from obtaining finance lease right-of-use assets $ 1,799  $ 1,335  $ 5,438  $ 4,659 
Operating leases:
Operating cash outflow from operating leases $ 1,396  $ 1,214  $ 4,177  $ 3,197 
Operating lease liabilities arising from obtaining operating lease right-of-use assets $ —  $ —  $ 154  $ — 
Other information as of September 30, 2023
Finance leases:
Weighted-average remaining lease term (years) 1.8
Weighted-average discount rate 9.9  %
Operating leases:
Weighted-average remaining lease term (years) 9.3
Weighted-average discount rate 3.9  %
Operating Lease Liability Maturity
Future maturities of remaining lease payments included in the measurement of operating lease liabilities as of September 30, 2023 are as follows (in thousands):
Years ending December 31,
Remaining 2023 $ 1,396 
2024 5,574 
2025 5,701 
2026 5,843 
2027 5,989 
Thereafter 32,834 
Total 57,337 
Less imputed interest (9,488)
Present value of operating lease obligations $ 47,849 
Finance Lease Liability Maturity Future minimum lease payments for the Company’s finance leases as of September 30, 2023 were as follows (in thousands):
Years ending December 31,
Remaining 2023 $ 2,207 
2024 6,739 
2025 3,906 
2026 1,393 
2027 — 
Thereafter — 
Total 14,245 
Less amounts representing interest (1,484)
Present value of finance lease obligations $ 12,761