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Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases

16. Leases

Information related to our leases are presented below:

 

 

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

(Dollars In Thousands)

 

Components of lease expense:

 

 

 

 

 

 

 

 

 

Operating lease cost

 

$

10,692

 

 

$

9,998

 

 

$

7,611

 

Short-term lease cost

 

 

3,634

 

 

 

2,243

 

 

 

4,372

 

Other cost (1)

 

 

275

 

 

 

157

 

 

 

75

 

Total lease cost

 

$

14,601

 

 

$

12,398

 

 

$

12,058

 

Supplemental cash flow information related to leases:

 

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

10,552

 

 

$

10,290

 

 

$

7,782

 

Operating cash flows from finance leases

 

 

56

 

 

 

33

 

 

 

15

 

Financing cash flows from finance leases

 

 

168

 

 

 

92

 

 

 

45

 

Cash paid for amounts included in the measurement of lease liabilities

 

$

10,776

 

 

$

10,415

 

 

$

7,842

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

4,347

 

 

$

9,549

 

 

$

17,064

 

 

 

 

 

 

 

 

 

 

 

Right-of-use assets obtained in exchange for new finance lease liabilities

 

$

932

 

 

$

 

 

$

318

 

 

 

 

 

 

 

 

 

 

 

Other lease-related information:

 

 

 

 

 

 

 

 

 

Weighted-average remaining lease term - operating leases (in years)

 

 

3.3

 

 

 

4.0

 

 

 

4.3

 

Weighted-average remaining lease term - finance leases (in years)

 

 

4.9

 

 

 

3.2

 

 

 

4.1

 

Weighted-average discount rate - operating leases

 

 

8.25

%

 

 

8.44

%

 

 

8.26

%

Weighted-average discount rate - finance leases

 

 

7.54

%

 

 

8.69

%

 

 

8.65

%

 

(1) Includes variable and finance lease costs.

At December 31, 2022, future minimum lease payments due under ASC 842 are summarized by fiscal year in the table below:

 

 

 

Operating Leases

 

 

Finance Leases

 

 

 

(In thousands)

 

2023

 

$

8,771

 

 

$

299

 

2024

 

 

7,780

 

 

 

275

 

2025

 

 

4,192

 

 

 

318

 

2026

 

 

2,650

 

 

 

196

 

2027

 

 

1,692

 

 

 

137

 

Thereafter

 

 

353

 

 

 

132

 

Total lease payments

 

 

25,438

 

 

 

1,357

 

Less imputed interest

 

 

(3,283

)

 

 

(219

)

Present value of lease liabilities

 

$

22,155

 

 

$

1,138

 

 

As of December 31, 2022, we have executed operating leases with lease terms greater than one year, totaling approximately $0.9 million which have not yet commenced.