XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Note 8 - Leases | 6 Months Ended
--- | ---
Jun. 30, 2024
Notes to Financial Statements |
Lessee, Operating Leases [Text Block] |
8. | Leases
The components of lease expense associated with our lease liabilities and supplemental cash flow information related to those leases were as follows (dollar amounts in thousands):
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Operating lease cost, gross |  | $ | 637 |  |  | $ | 637 |  |  | $ | 1,264 |  |  | $ | 1,276 |
Sublease income |  |  | (24 | ) |  |  | (23 | ) |  |  | (48 | ) |  |  | (47 | )
Net Operating lease cost |  | $ | 613 |  |  | $ | 614 |  |  | $ | 1,216 |  |  | $ | 1,229 |
Cash paid under operating leases, gross |  | $ | 752 |  |  | $ | 181 |  |  | $ | 1,499 |  |  | $ | 361 |
Weighted average remaining lease term - months |  |  | 116 |  |  |  | 128 |  |  |  |  |  |  |  |  |
Weighted average discount rate |  |  | 6.6 | % |  |  | 6.6 | % |  |  |  |  |  |  |  |
As of June 30, 2024, maturities of lease liabilities were as follows (in thousands):
|  | Gross Lease Payment |  |  | Payments received from Sublease |  |  | Net Lease Payment |
2024 (excluding the six months ended June 30, 2024) |  | $ | 1,504 |  |  | $ | (49 | ) |  | $ | 1,455 |
2025 |  |  | 2,903 |  |  |  | (41 | ) |  |  | 2,862 |
2026 |  |  | 2,769 |  |  |  | — |  |  |  | 2,769 |
2027 |  |  | 2,638 |  |  |  | — |  |  |  | 2,638 |
2028 |  |  | 2,590 |  |  |  | — |  |  |  | 2,590 |
Thereafter |  |  | 14,865 |  |  |  | — |  |  |  | 14,865 |
Total lease payments |  |  | 27,269 |  |  |  | (90 | ) |  |  | 27,179 |
Less imputed interest |  |  | (7,590 | ) |  |  |  |  |  |  |  |
Operating lease liabilities |  | $ | 19,679 |  |  |  |  |  |  |  |  |
In August 2021, we entered into an operating lease agreement for our corporate headquarters in Atlanta, Georgia with an unaffiliated third party. This lease covers approximately 73,000 square feet and commenced in June 2022 for a 146 month term. The total commitment under this lease is approximately $27.8 million and is included in the table above. In connection with the commencement of this lease, we discontinued most of the subleasing arrangements with third parties for space at our corporate headquarters. A right-of-use asset and liability was recorded at the commencement date of this lease. In addition, we occasionally lease certain equipment under cancelable and non-cancelable leases, which are accounted for as capital leases in our condensed consolidated financial statements. As of June 30, 2024, we had no material non-cancelable capital leases with initial or remaining terms of more than one year.

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

X
- 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration