Leases (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Operating and Finance Lease Right-Of-Use ("ROU") Assets and Liabilities

The Company's operating and finance lease right-of-use ("ROU") assets and liabilities as of June 30, 2023 and December 31, 2022 consisted of the following items (in thousands):


	As of
Leases	June 30, 2023		December 31, 2022
Operating Leases






Operating lease right-of-use assets, net of accumulated amortization (1)	$	11,292	$	7,734

Operating lease obligations, current	$	2,375	$	2,724
Long-term operating lease obligations	9,006		5,133
Total operating lease obligation	$	11,381	$	7,857

Finance Leases



Finance lease right-of-use assets, net of accumulated amortization (2)	$	2,120	$	2,565

Finance lease obligations, current	$	1,119	$	1,131
Long-term finance lease obligations	2,885		3,450
Total finance lease obligations	$	4,004	$	4,581

(1) Operating lease ROU assets are reported net of accumulated amortization of $4.5 million and $4.4 million as of June 30, 2023 and December 31, 2022, respectively.

(2) Finance lease ROU assets are reported net of accumulated amortization of $2.4 million and $2.0 million as of June 30, 2023 and December 31, 2022, respectively.

Lease financial information as of and for the three and six months ended June 30, 2023 and 2022 is provided in the following table:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2023		2022		2023			2022
Finance lease cost:
Amortization of right-of-use assets	$	223	$	230	$	446		$	371
Interest on lease liabilities	63		86		131			164
Operating lease cost	1,035		778		2,017			1,584
Short-term lease cost	242		216		651			459
Variable lease cost (1)	56		3		64			7

Total lease cost	$	1,619	$	1,313	$	3,309		$	2,585

Other Information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for finance leases					$	131		$	164
Operating cash flows for operating leases					$	1,483		$	1,419
Financing cash flows for finance leases					$	577		$	594
Right-of-use assets obtained in exchange for new finance lease liabilities					$	—		$	1,641
Right-of-use assets obtained in exchange for new operating lease liabilities					$	1,881		$	3,418
Weighted-average remaining lease term - finance leases					2.3 years			3.2 years
Weighted-average remaining lease term - operating leases					7.7 years			4.3 years
Weighted-average discount rate - finance leases					5.9		%	5.9		%
Weighted-average discount rate - operating leases					11.0		%	5.9		%

(1) Primarily includes common area maintenance, property taxes and insurance payable to lessors.