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Leases
 6 Months Ended
Jun. 30, 2023
Leases [Abstract]  
Leases

NOTE 10. LEASES

We lease certain equipment, office space and land. Lease assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease.

The following table presents supplemental balance sheet information related to lease assets and liabilities:

 

(in thousands)

Classification

 

June 30, 2023

 

 

December 31, 2022

 

Assets

 

 

 

 

 

 

 

Operating lease assets

Other long-term assets

 

$

8,826

 

 

$

9,306

 

Finance lease assets1

Property, plant and equipment, net

 

 

12,302

 

 

 

13,213

 

Total lease assets

 

 

$

21,128

 

 

$

22,519

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

Operating lease liabilities

Accounts payable and accrued liabilities

 

$

2,319

 

 

$

2,570

 

Finance lease liabilities

Accounts payable and accrued liabilities

 

 

4,406

 

 

 

4,834

 

Noncurrent:

 

 

 

 

 

 

 

Operating lease liabilities

Other long-term obligations

 

 

6,651

 

 

 

6,716

 

Finance lease liabilities

Other long-term obligations

 

 

7,790

 

 

 

8,179

 

Total lease liabilities

 

 

$

21,166

 

 

$

22,299

 

 

1

Finance lease assets are presented net of accumulated amortization of $9.0 million and $7.9 million as of June 30, 2023 and December 31, 2022, respectively.

The following table presents the components of lease expense:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(in thousands)

 

2023

 

 

2022

 

 

2023

 

 

2022

 

Operating lease costs1

 

$

796

 

 

$

881

 

 

$

1,682

 

 

$

1,828

 

Finance lease costs:

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of leased assets

 

 

1,331

 

 

 

995

 

 

 

2,562

 

 

 

1,924

 

Interest expense

 

 

113

 

 

 

69

 

 

 

224

 

 

 

136

 

Net lease costs

 

$

2,240

 

 

$

1,945

 

 

$

4,468

 

 

$

3,888

 

 

1

Excludes short-term leases and variable lease costs, which are immaterial.

The following table presents supplemental cash flow information related to leases:

 

 

 

 

Six Months Ended June 30,

 

(in thousands)

 

 

2023

 

 

2022

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

1,629

 

 

$

1,822

 

Operating cash flows for finance leases

 

$

213

 

 

$

136

 

Financing cash flows for finance leases

 

$

2,817

 

 

$

1,961

 

Leased assets exchanged for new lease liabilities:

 

 

 

 

 

 

Operating leases

 

$

1,149

 

 

$

1,279

 

Finance leases

 

$

2,111

 

 

$

2,331