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LEASES (Tables) - Rocket Lab USA, Inc. | 12 Months Ended
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Dec. 31, 2020
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases as of December 31, were as follows:
Liabilities |  | Presentation |  | 2020 |  |  | 2019 |
Current: |  |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | Other current liabilities |  | $ | 1,670 |  |  | $ | 1,001 |
Finance lease liabilities |  | Finance lease liabilities |  |  | — |  |  |  | 2,246 |
Total lease liabilities, current |  |  |  |  | 1,670 |  |  |  | 3,247 |
Non-current: |  |  |  |  |  |  |  |  |  |
Operating lease liabilities |  | Non-current lease liabilities |  |  | 27,299 |  |  |  | 26,025 |
Total lease liabilities |  |  |  | $ | 28,969 |  |  | $ | 29,272 |
Components of Lease Expense | The components of lease expense were as follows during the years ended December 31:
|  | 2020 |  |  | 2019 |
Operating lease costs |  | $ | 2,552 |  |  | $ | 2,752 |
Finance lease costs: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 583 |  |  | $ | 50 |
Interest on lease liabilities |  |  | 95 |  |  |  | 9 |
Total finance lease costs |  | $ | 678 |  |  | $ | 59 |
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases is as follows for the years ended December 31:
|  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 2,080 |  |  | $ | 2,301 |
Operating cash flows from finance leases |  |  | 95 |  |  |  | 9 |
Finance cash flows from finance leases |  |  | — |  |  |  | 737 |
Right-of-use assets obtained in exchange for lease obligations: |  |  |  |  |  |  |  |
Operating leases |  | $ | 2,410 |  |  | $ | 20,011 |
Finance leases |  |  | — |  |  |  | 2,974 |
Schedule of Future Minimum Operating Lease Payments | The following is a schedule of the future minimum operating lease payments by year as of December 31:
|  | Operating Leases |
2021 |  | $ | 3,076 |
2022 |  |  | 3,109 |
2023 |  |  | 3,236 |
2024 |  |  | 3,143 |
2025 |  |  | 3,145 |
Thereafter |  |  | 24,749 |
Total lease payments |  |  | 40,458 |
Less imputed interest |  |  | (11,489 | )
Total |  | $ | 28,969 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123406913&loc=d3e41502-112717 + Details
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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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