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v3.23.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2023
Leases [Abstract] |
Leases | Leases The Company leases administrative, processing, research and distribution facilities through operating leases. Several of the leases include fixed payments, including rent and non-lease components such as common area or other maintenance costs. Operating lease expense is as follows:
| Three Months Ended March 31,
(in thousands) | 2023 |  | 2022
Operating lease expense | $ | 1,298 |  |  | $ | 1,408 |
Supplemental balance sheet information related to the operating and financing leases is as follows:
(In thousands, except lease term and discount rate) | March 31, 2023 |  | December 31, 2022
Operating Leases |  |  |
Right-of-use operating assets | $ | 13,868 |  |  | $ | 14,369 |
Current maturities of long-term lease obligations | $ | 1,043 |  |  | $ | 1,303 |
Long-term lease obligations | $ | 20,073 |  |  | $ | 20,387 |
Financing Leases |  |  |
Right-of-use financing leases (1) | $ | 35 |  |  | $ | 41 |
Current maturities of long-term lease obligations | $ | 7 |  |  | $ | 7 |
Long-term lease obligations | $ | 16 |  |  | $ | 18 |
Weighted average operating lease term (in years): | 11 |  | 11
Weighted average financing lease term (in years): | 4 |  | 4
Weighted average discount rate operating leases | 10.65% |  |  | 10.58% |
Weighted average discount rate financing leases | 12.07% |  |  | 11.91% |
(1) Financing leases are included in property and equipment, net on the condensed consolidated balance sheets. Future minimum lease payments under operating and financing leases at March 31, 2023, are as follows:
(In thousands) |
2023 (excluding the three months ended March 31, 2023) | $ | 2,417 |
2024 | 3,253 |
2025 | 3,336 |
2026 | 3,348 |
2027 | 2,920 |
Thereafter | 20,932 |
Total | 36,206 |
Less: Imputed interest | (15,067) |
Total lease liability | 21,139 |
Less: Current lease liability | (1,050) |
Long-term lease liability | $ | 20,089 |
Leases | Leases The Company leases administrative, processing, research and distribution facilities through operating leases. Several of the leases include fixed payments, including rent and non-lease components such as common area or other maintenance costs. Operating lease expense is as follows:
| Three Months Ended March 31,
(in thousands) | 2023 |  | 2022
Operating lease expense | $ | 1,298 |  |  | $ | 1,408 |
Supplemental balance sheet information related to the operating and financing leases is as follows:
(In thousands, except lease term and discount rate) | March 31, 2023 |  | December 31, 2022
Operating Leases |  |  |
Right-of-use operating assets | $ | 13,868 |  |  | $ | 14,369 |
Current maturities of long-term lease obligations | $ | 1,043 |  |  | $ | 1,303 |
Long-term lease obligations | $ | 20,073 |  |  | $ | 20,387 |
Financing Leases |  |  |
Right-of-use financing leases (1) | $ | 35 |  |  | $ | 41 |
Current maturities of long-term lease obligations | $ | 7 |  |  | $ | 7 |
Long-term lease obligations | $ | 16 |  |  | $ | 18 |
Weighted average operating lease term (in years): | 11 |  | 11
Weighted average financing lease term (in years): | 4 |  | 4
Weighted average discount rate operating leases | 10.65% |  |  | 10.58% |
Weighted average discount rate financing leases | 12.07% |  |  | 11.91% |
(1) Financing leases are included in property and equipment, net on the condensed consolidated balance sheets. Future minimum lease payments under operating and financing leases at March 31, 2023, are as follows:
(In thousands) |
2023 (excluding the three months ended March 31, 2023) | $ | 2,417 |
2024 | 3,253 |
2025 | 3,336 |
2026 | 3,348 |
2027 | 2,920 |
Thereafter | 20,932 |
Total | 36,206 |
Less: Imputed interest | (15,067) |
Total lease liability | 21,139 |
Less: Current lease liability | (1,050) |
Long-term lease liability | $ | 20,089 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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