XML 42 R30.htm IDEA: XBRL DOCUMENT
v3.22.1

Leases (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Leases [Abstract] |
Supplemental Balance Sheets Information | The following table summarizes the lease amounts included in the Company's condensed consolidated balance sheets:
(in thousands) | Classification on the Condensed Consolidated Balance Sheets |  | March 31, 2022 |  | December 31, 2021
Assets |  |  |  |  |
Operating | Operating lease right-of-use assets(1) |  | $ | 17,719 |  |  | $ | 20,119 |
Finance | Property and equipment, net(2) |  | 5,111 |  |  | 4,916 |
Total lease assets |  |  | $ | 22,830 |  |  | $ | 25,035 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Current operating lease liabilities |  | $ | 3,762 |  |  | $ | 4,366 |
Finance | Current portion of long-term debt |  | 2,458 |  |  | 2,451 |
Noncurrent |  |  |  |  |
Operating | Long-term operating lease liabilities |  | 14,787 |  |  | 16,576 |
Finance | Long-term debt |  | 2,859 |  |  | 2,681 |
Total lease liabilities |  |  | $ | 23,866 |  |  | $ | 26,074 |
(1) Operating lease assets are recorded net of accumulated amortization of $15.6 million at March 31, 2022 and $15.9 million at December 31, 2021. (2) Finance lease assets are recorded net of accumulated amortization of $6.4 million at March 31, 2022 and $5.9 million at December 31, 2021.
Summary of Lease Costs, Lease Terms and Discount Rates | The following table summarizes the lease costs included in the Company's condensed consolidated statements of operations for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31, |  |
(in thousands) | Classification on the Condensed Consolidated Statement of Operations |  | 2022 |  | 2021 |  |  |  |
Operating lease cost | Cost of revenue(1) |  | $ | 694 |  |  | $ | 690 |  |  |  |  |
Operating lease cost | Selling, general and administrative(1) |  | 704 |  |  | 584 |  |  |  |  |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization | Cost of revenue(2) |  | 651 |  |  | 674 |  |  |  |  |
Interest | Interest expense, net(2) |  | 66 |  |  | 86 |  |  |  |  |
Total lease cost |  |  | $ | 2,115 |  |  | $ | 2,034 |  |  |  |  |
(1) Operating lease costs recorded in cost of revenue included $0.1 million of variable lease costs for both the three months ended March 31, 2022 and 2021. In addition, $0.1 million of variable lease costs are included in selling, general and administrative for both the three months ended March 31, 2022 and 2021. These variable costs consist of the Company's proportionate share of operating expenses, real estate taxes and utilities. (2) Finance lease costs recorded in cost of revenue include variable lease costs of $0.8 million for the three months ended March 31, 2022 and $0.6 million for the three months ended March 31, 2021. These variable lease costs consist of fuel, maintenance, and sales tax charges. The following is a summary of the lease terms and discount rates:
| March 31, 2022 |  | December 31, 2021
Weighted average lease term (in years): |  |  |
Operating | 7.30 |  | 7.10
Finance | 2.60 |  | 2.51
Weighted average discount rate: |  |  |
Operating | 4.67 | % |  | 4.68 | %
Finance | 5.14 | % |  | 5.27 | %
Future Minimum Commitment for Finance Leases | Future minimum commitments for finance and operating leases that have non-cancelable lease terms in excess of one year as of March 31, 2022 were as follows:
|  |  |  | Operating Leases
Year ending (in thousands): |  | Finance Leases |  | Non-Related Party |  | Related Party(1) |  | Sublease Receipts(2) |  | Total Operating
Remainder of 2022 |  | $ | 1,934 |  |  | $ | 3,252 |  |  | $ | 338 |  |  | $ | (623) |  |  | $ | 2,967 |
2023 |  | 1,758 |  |  | 3,108 |  |  | 450 |  |  | (885) |  |  | 2,673 |
2024 |  | 1,026 |  |  | 2,502 |  |  | 450 |  |  | (912) |  |  | 2,040 |
2025 |  | 500 |  |  | 2,148 |  |  | 450 |  |  | (939) |  |  | 1,659 |
2026 |  | 99 |  |  | 2,010 |  |  | 450 |  |  | (967) |  |  | 1,493 |
Thereafter |  | — |  |  | 2,033 |  |  | 4,815 |  |  | (327) |  |  | 6,521 |
Total minimum lease payments |  | $ | 5,317 |  |  | $ | 15,053 |  |  | $ | 6,953 |  |  | $ | (4,653) |  |  | $ | 17,353 |
Amounts representing interest |  | 358 |  |  |  |  |  |  |  |  |
Present value of net minimum lease payments |  | $ | 5,675 |  |  |  |  |  |  |  |  |
(1) Associated with the aforementioned related party lease entered into with a former member of JMLLC. (2) Associated with the aforementioned third party sublease.
Future Minimum Commitment for Operating Leases | Future minimum commitments for finance and operating leases that have non-cancelable lease terms in excess of one year as of March 31, 2022 were as follows:
|  |  |  | Operating Leases
Year ending (in thousands): |  | Finance Leases |  | Non-Related Party |  | Related Party(1) |  | Sublease Receipts(2) |  | Total Operating
Remainder of 2022 |  | $ | 1,934 |  |  | $ | 3,252 |  |  | $ | 338 |  |  | $ | (623) |  |  | $ | 2,967 |
2023 |  | 1,758 |  |  | 3,108 |  |  | 450 |  |  | (885) |  |  | 2,673 |
2024 |  | 1,026 |  |  | 2,502 |  |  | 450 |  |  | (912) |  |  | 2,040 |
2025 |  | 500 |  |  | 2,148 |  |  | 450 |  |  | (939) |  |  | 1,659 |
2026 |  | 99 |  |  | 2,010 |  |  | 450 |  |  | (967) |  |  | 1,493 |
Thereafter |  | — |  |  | 2,033 |  |  | 4,815 |  |  | (327) |  |  | 6,521 |
Total minimum lease payments |  | $ | 5,317 |  |  | $ | 15,053 |  |  | $ | 6,953 |  |  | $ | (4,653) |  |  | $ | 17,353 |
Amounts representing interest |  | 358 |  |  |  |  |  |  |  |  |
Present value of net minimum lease payments |  | $ | 5,675 |  |  |  |  |  |  |  |  |
(1) Associated with the aforementioned related party lease entered into with a former member of JMLLC. (2) Associated with the aforementioned third party sublease.
Leases Supplemental Cash Flow Information | The following is a summary of other information and supplemental cash flow information related to finance and operating leases:
|  | Three months ended March 31,
(in thousands) |  | 2022 |  | 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 1,358 |  |  | $ | 1,225 |
Operating cash flows from finance leases |  | 66 |  |  | 86 |
Financing cash flows from finance leases |  | 660 |  |  | 667 |
Right-of-use assets exchanged for lease liabilities: |  |  |  |
Operating leases |  | — |  |  | 156 |
Finance leases |  | 864 |  |  | 87 |
Right-of-use assets disposed or adjusted modifying operating leases liabilities |  | (1,276) |  |  | 36 |
Right-of-use assets disposed or adjusted modifying finance leases liabilities |  | $ | (19) |  |  | — |

X
- Definition Assets and Liabilities Lessee [Table Text Block] + References No definition available. + Details
Name: | lmb_AssetsAndLiabilitiesLesseeTableTextBlock
Namespace Prefix: | lmb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Supplemental Cash Flow Information Related To Leases [Table Text Block] + References No definition available. + Details
Name: | lmb_SupplementalCashFlowInformationRelatedToLeasesTableTextBlock
Namespace Prefix: | lmb_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
Name: | us-gaap_FinanceLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration