XML 23 R14.htm IDEA: XBRL DOCUMENT v3.22.1
Leases
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leases

7) Leases

The Company has various operating leases for real estate and non-real estate items. Non-real estate leases are mainly comprised of automobiles, but also include office equipment and other lower-valued items. The Company does not have any finance leases. As most of the Company's leases do not provide an implicit rate, an incremental borrowing rate is used based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date.

The elements of lease expense were as follows:

 

 

 

 

 

Three Months Ended March 31,

 

 

 

 

 

2022

 

2021

 

Lease cost:

 

 

 

 

Operating lease

$

7

 

$

8

 

Short-term lease

 

1

 

 

1

 

Total lease cost

$

8

 

$

9

 

 

 

 

 

 

 

 

 

 

 

The weighted average discount rate and the weighted average remaining lease term were 3.0% and 13.9 years, respectively, as of March 31, 2022. The weighted average discount rate and weighted average remaining lease term were 2.9% and 14.8 years, respectively, as of March 31, 2021. Operating cash flows used for operating leases for the three months ended

March 31, 2022 and 2021 were $5 and $4, respectively. Operating cash flows used for operating leases for the three months ended March 31, 2022 and 2021 were net of $1 and $4, respectively, in tenant improvement allowance receipts.

 

Future lease payments under non-cancelable leases as of March 31, 2022 are detailed as follows:

 

2022 (remaining)

 

$

19

 

2023

 

 

24

 

2024

 

 

22

 

2025

 

 

19

 

2026

 

 

17

 

Thereafter

 

 

157

 

Total lease payments

 

 

258

 

Less: imputed interest

 

 

50

 

Total operating lease liabilities

 

$

208

 

 

The remaining 2022 lease payment amount includes an immaterial amount of tenant improvement allowances. Amounts presented above do not include payments relating to immaterial leases excluded from the balance sheet, as these operating leases had terms of less than twelve months.