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v3.23.2

LEASES | 6 Months Ended
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Jun. 30, 2023
Leases [Abstract] |
LEASES | LEASES Our lease obligations consist of operating and finance leases related to real estate, equipment and vehicles. The components of lease cost are as follows (in thousands):
|  |  | Three months ended June 30, |  | Six months ended June 30,
| Income Statement Classification |  | 2022 |  | 2023 |  | 2022 |  | 2023
Operating lease cost | Facilities and grounds expense(1) |  | $ | 853 |  |  | $ | 917 |  |  | $ | 1,701 |  |  | $ | 1,792 |
Short-term lease cost | Facilities and grounds expense(1) |  | 76 |  |  | 92 |  |  | 178 |  |  | 186 |
Variable lease cost | Facilities and grounds expense(1) |  | 16 |  |  | 56 |  |  | 23 |  |  | 114 |
Finance lease cost: |  |  |  |  |  |  |  |  |
Depreciation of leased assets | Depreciation and amortization(2) |  | $ | 109 |  |  | $ | 109 |  |  | $ | 217 |  |  | $ | 217 |
Interest on lease liabilities | Interest expense |  | 112 |  |  | 103 |  |  | 225 |  |  | 208 |
Total finance lease cost |  |  | 221 |  |  | 212 |  |  | 442 |  |  | 425 |
Total lease cost |  |  | $ | 1,166 |  |  | $ | 1,277 |  |  | $ | 2,344 |  |  | $ | 2,517 |
(1) | Facilities and grounds expense is included within Cost of service and General, administrative and other on our Consolidated Statements of Operations.
(2) | Depreciation and amortization expense is included within Field depreciation expense and General, administrative and other on our Consolidated Statements of Operations.
Supplemental cash flow information related to our leases is as follows (in thousands):
| Six months ended June 30,
| 2022 |  | 2023
Cash paid for operating leases included in operating activities | $ | 1,795 |  |  | $ | 1,934 |
Cash paid for finance leases included in financing activities | 426 |  |  | 447 |
Right-of-use assets obtained in exchange for new leases is as follows (in thousands):
| Six months ended June 30,
| 2022 |  | 2023
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 576 |  |  | $ | 1,067 |
Right-of-use assets obtained in exchange for new finance lease liabilities | — |  |  | — |
Supplemental balance sheet information related to leases is as follows (in thousands):
Lease Type |  | Balance Sheet Classification |  | December 31, 2022 |  | June 30, 2023
Operating lease right-of-use assets |  | Operating lease right-of-use assets |  | $ | 17,060 |  |  | $ | 17,123 |
Finance lease right-of-use assets |  | Property, plant and equipment, net |  | $ | 6,770 |  |  | $ | 6,770 |
Accumulated depreciation |  | Property, plant and equipment, net |  | (2,881) |  |  | (3,098) |
Finance lease right-of-use assets, net |  |  |  | $ | 3,889 |  |  | $ | 3,672 |
Operating lease current liabilities |  | Current portion of operating lease obligations |  | $ | 2,203 |  |  | $ | 2,581 |
Finance lease current liabilities |  | Current portion of finance lease obligations |  | 414 |  |  | 409 |
Total current lease liabilities |  |  |  | $ | 2,617 |  |  | $ | 2,990 |
Operating lease non-current liabilities |  | Obligations under operating leases, net of current portion |  | $ | 17,315 |  |  | $ | 16,860 |
Finance lease non-current liabilities |  | Obligations under finance leases, net of current portion |  | 4,743 |  |  | 4,537 |
Total non-current lease liabilities |  |  |  | $ | 22,058 |  |  | $ | 21,397 |
Total lease liabilities |  |  |  | $ | 24,675 |  |  | $ | 24,387 |
The average lease terms and discount rates at June 30, 2023 are as follows:
| Weighted-average remaining lease term (years) |  | Weighted-average discount rate
Operating leases | 8.3 |  | 8.1 | %
Finance leases | 11.1 |  | 8.1 | %
The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2023 are as follows (in thousands):
| Operating |  | Finance
Lease payments due: |  |  |
Remainder of 2023 | $ | 1,973 |  |  | $ | 423 |
2024 | 3,942 |  |  | 791 |
2025 | 3,651 |  |  | 736 |
2026 | 3,528 |  |  | 746 |
2027 | 3,375 |  |  | 746 |
Thereafter | 10,011 |  |  | 4,064 |
Total lease payments | 26,480 |  |  | 7,506 |
Less: Interest | (7,039) |  |  | (2,560) |
Present value of lease liabilities | $ | 19,441 |  |  | $ | 4,946 |
At June 30, 2023, we had no significant operating or finance leases that had not yet commenced.
LEASES | LEASES Our lease obligations consist of operating and finance leases related to real estate, equipment and vehicles. The components of lease cost are as follows (in thousands):
|  |  | Three months ended June 30, |  | Six months ended June 30,
| Income Statement Classification |  | 2022 |  | 2023 |  | 2022 |  | 2023
Operating lease cost | Facilities and grounds expense(1) |  | $ | 853 |  |  | $ | 917 |  |  | $ | 1,701 |  |  | $ | 1,792 |
Short-term lease cost | Facilities and grounds expense(1) |  | 76 |  |  | 92 |  |  | 178 |  |  | 186 |
Variable lease cost | Facilities and grounds expense(1) |  | 16 |  |  | 56 |  |  | 23 |  |  | 114 |
Finance lease cost: |  |  |  |  |  |  |  |  |
Depreciation of leased assets | Depreciation and amortization(2) |  | $ | 109 |  |  | $ | 109 |  |  | $ | 217 |  |  | $ | 217 |
Interest on lease liabilities | Interest expense |  | 112 |  |  | 103 |  |  | 225 |  |  | 208 |
Total finance lease cost |  |  | 221 |  |  | 212 |  |  | 442 |  |  | 425 |
Total lease cost |  |  | $ | 1,166 |  |  | $ | 1,277 |  |  | $ | 2,344 |  |  | $ | 2,517 |
(1) | Facilities and grounds expense is included within Cost of service and General, administrative and other on our Consolidated Statements of Operations.
(2) | Depreciation and amortization expense is included within Field depreciation expense and General, administrative and other on our Consolidated Statements of Operations.
Supplemental cash flow information related to our leases is as follows (in thousands):
| Six months ended June 30,
| 2022 |  | 2023
Cash paid for operating leases included in operating activities | $ | 1,795 |  |  | $ | 1,934 |
Cash paid for finance leases included in financing activities | 426 |  |  | 447 |
Right-of-use assets obtained in exchange for new leases is as follows (in thousands):
| Six months ended June 30,
| 2022 |  | 2023
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 576 |  |  | $ | 1,067 |
Right-of-use assets obtained in exchange for new finance lease liabilities | — |  |  | — |
Supplemental balance sheet information related to leases is as follows (in thousands):
Lease Type |  | Balance Sheet Classification |  | December 31, 2022 |  | June 30, 2023
Operating lease right-of-use assets |  | Operating lease right-of-use assets |  | $ | 17,060 |  |  | $ | 17,123 |
Finance lease right-of-use assets |  | Property, plant and equipment, net |  | $ | 6,770 |  |  | $ | 6,770 |
Accumulated depreciation |  | Property, plant and equipment, net |  | (2,881) |  |  | (3,098) |
Finance lease right-of-use assets, net |  |  |  | $ | 3,889 |  |  | $ | 3,672 |
Operating lease current liabilities |  | Current portion of operating lease obligations |  | $ | 2,203 |  |  | $ | 2,581 |
Finance lease current liabilities |  | Current portion of finance lease obligations |  | 414 |  |  | 409 |
Total current lease liabilities |  |  |  | $ | 2,617 |  |  | $ | 2,990 |
Operating lease non-current liabilities |  | Obligations under operating leases, net of current portion |  | $ | 17,315 |  |  | $ | 16,860 |
Finance lease non-current liabilities |  | Obligations under finance leases, net of current portion |  | 4,743 |  |  | 4,537 |
Total non-current lease liabilities |  |  |  | $ | 22,058 |  |  | $ | 21,397 |
Total lease liabilities |  |  |  | $ | 24,675 |  |  | $ | 24,387 |
The average lease terms and discount rates at June 30, 2023 are as follows:
| Weighted-average remaining lease term (years) |  | Weighted-average discount rate
Operating leases | 8.3 |  | 8.1 | %
Finance leases | 11.1 |  | 8.1 | %
The aggregate future lease payments for non-cancelable operating and finance leases at June 30, 2023 are as follows (in thousands):
| Operating |  | Finance
Lease payments due: |  |  |
Remainder of 2023 | $ | 1,973 |  |  | $ | 423 |
2024 | 3,942 |  |  | 791 |
2025 | 3,651 |  |  | 736 |
2026 | 3,528 |  |  | 746 |
2027 | 3,375 |  |  | 746 |
Thereafter | 10,011 |  |  | 4,064 |
Total lease payments | 26,480 |  |  | 7,506 |
Less: Interest | (7,039) |  |  | (2,560) |
Present value of lease liabilities | $ | 19,441 |  |  | $ | 4,946 |
At June 30, 2023, we had no significant operating or finance leases that had not yet commenced.

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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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + 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 -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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