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Leases | 12 Months Ended
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Dec. 31, 2022
Leases [Abstract] |
Leases | Leases The Company leases certain real estate and automobiles. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the consolidated balance sheet. The Company recognizes lease expense for these leases on a straight-line basis over the lease term. The Company determines if an arrangement is a lease at inception. All of the Company's leases are operating leases. Operating lease right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of lease payments over the lease term at commencement date. Because most of the Company’s leases do not provide an implicit rate of return, the Company uses its imputed collateralized rate based on the information available at the commencement date in determining the present value of lease payments. Operating lease ROU assets are comprised of the lease liability plus prepaid rents and are reduced by lease incentives or deferred rents. The Company has lease agreements with non-lease components which are not bifurcated. Some of the Company's leases include one or more options to renew, with renewal terms that can extend the lease from one to five years. The exercise of a lease renewal option typically occurs at the discretion of both parties. Certain leases also include options to purchase the leased property at fair value. For purposes of calculating operating lease liabilities, lease terms are deemed not to include options to extend the lease termination until it is reasonably certain that the Company will exercise that option. Certain of the Company’s lease agreements include payments adjusted periodically for inflation based on the consumer price index. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Operating lease cost details for the years ended December 31, 2022, 2021, and 2020 are as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
(In thousands) |  |  |  |  |
Building rent | $ | 2,117 |  |  | $ | 2,564 |  |  | $ | 2,978 |
Automobile rentals | 1,180 |  |  | 1,505 |  |  | 1,576 |
Total net operating lease costs | $ | 3,297 |  |  | $ | 4,069 |  |  | $ | 4,554 |
Short-term lease costs and variable lease costs recognized during the years ended December 31, 2022, 2021, and 2020 are immaterial. Supplemental consolidated balance sheet information related to operating leases as of December 31, 2022 and 2021, is as follows:
| December 31,
| 2022 |  | 2021
(In thousands) |  |  |
Leases |  |  |
Assets | $ | 8,022 |  |  | $ | 9,197 |
Operating lease right-of-use assets | $ | 8,022 |  |  | $ | 9,197 |
Liabilities |  |  |
Current |  |  |
Operating lease liabilities | $ | 2,258 |  |  | $ | 2,476 |
Noncurrent |  |  |
Operating lease liabilities | 8,442 |  |  | 10,180 |
Total lease liabilities | $ | 10,700 |  |  | $ | 12,656 |
The weighted average remaining lease term for operating leases is 5.7 years. The weighted-average discount rate for operating leases is 5%. Supplemental consolidated cash flow information related to leases is as follows:
| Years Ended December 31,
| 2022 |  | 2021 |  | 2020
(In thousands) |
Supplemental cash flow and other information related to leases: |  |  |  |  |
Operating cash payments from operating leases | $ | 3,346 |  |  | $ | 3,630 |  |  | $ | 3,835 |
ROU assets obtained in exchange for new operating lease liabilities | $ | 1,172 |  |  | $ | 589 |  |  | $ | 3,549 |
Maturities of the Company's operating leases as of December 31, 2022 are as follows:
(In thousands) |
2023 | $ | 2,743 |
2024 | 2,082 |
2025 | 1,778 |
2026 | 1,698 |
2027 | 1,530 |
Later years | 2,713 |
Less imputed interest | (1,844) |
Total lease liabilities | $ | 10,700 |

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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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