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Leases | 3 Months Ended
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Mar. 31, 2023
Leases [Abstract] |
Leases |
10. | LEASES
The Company leases office space, storage warehouses, training and manufacturing facilities, and certain plant equipment under various operating leases. The Company’s operating leases have remaining lease terms of 1 year to 7 years. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. For the three months ended March 31, 2023, and March 31, 2022, total operating lease expense was $2.1 million and $2.1 million, respectively. The weighted average remaining lease term at March 31, 2023 and December 31, 2022 was 5.0 years and 5.2 years, respectively. The weighted average discount rate at March 31, 2023 and December 31, 2022 was 2.25% and 2.10%, respectively. The following table includes supplemental cash flow information for the three months ended March 31, 2023, and March 31, 2022, and supplemental balance sheet information at March 31, 2023 and December 31, 2022 related to operating leases (in thousands):
|  | Three Months Ended March 31, |
Supplemental cash flow information |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of operating lease liabilities |  | $ | 2,120 |  |  | $ | 2,174 |
Operating ROU assets obtained in exchange for lease liabilities |  | $ | 1,541 |  |  | $ | 6,053 |
Supplemental balance sheet information |  | March 31, 2023 |  |  | December 31, 2022 |
Operating lease ROU assets |  | $ | 30,654 |  |  | $ | 30,991 |
Operating lease liabilities: |  |  |  |  |  |  |  |
Accrued expenses and other current liabilities |  | $ | 7,731 |  |  | $ | 7,488 |
Operating lease liabilities |  |  | 23,318 |  |  |  | 23,974 |
Total operating lease liabilities |  | $ | 31,049 |  |  | $ | 31,462 |
The following table summarizes maturities of operating lease liabilities at March 31, 2023 (in thousands):
Maturities of operating lease liabilities |  |  |
2023 |  | $ | 5,960 |
2024 |  |  | 7,290 |
2025 |  |  | 5,456 |
2026 |  |  | 4,755 |
2027 |  |  | 4,400 |
Thereafter |  |  | 4,844 |
Total lease payments |  |  | 32,705 |
Less imputed interest |  |  | (1,656 | )
Total operating lease liabilities |  | $ | 31,049 |

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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