XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.23.1

Commitments and Contingencies | 3 Months Ended
--- | ---
Mar. 31, 2023
Commitments And Contingencies Disclosure [Abstract] |
Commitments and Contingencies | 10. Commitments and Contingencies Legal Matters The Company is a party to various claims and lawsuits incidental to its business. In the Company’s opinion, the liabilities, if any, which may ultimately result from the outcome of such matters, individually or in the aggregate, are not expected to have a material adverse effect on its financial position, liquidity, results of operations or cash flows. Leases The Company has commitments under operating leases for real estate leased from third parties under non-cancelable operating leases. The Company’s leases typically have lease terms between three years and ten years, with the longest lease term having an expiration date in 2029. Most of these leases include one or more renewal options for six years or less, and certain leases also include lessee termination options. At lease commencement, the Company assesses whether it is reasonably certain to exercise a renewal option, or reasonably certain not to exercise a termination option, by considering various economic factors. Options that are reasonably certain of being exercised are factored into the determination of the lease term, and related payments are included in the calculation of the right-of-use (“ROU”) asset and lease liability. The components of lease cost are presented in the following table:
|  | Three Months Ended March 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Components of total lease costs: |  |  |  |  |  |
Operating lease cost |  | $ | 659 |  |  | $ | 690 |
Short-term lease cost |  |  | 5 |  |  |  | 12 |
Variable lease cost |  |  | — |  |  |  | — |
Total lease cost |  | $ | 664 |  |  | $ | 702 |
Amounts reported in the Condensed Consolidated Balance Sheets were as follows:
($ in thousands) |  | March 31, 2023 |  |  | December 31, 2022 |
Operating leases: |  |  |  |  |  |
ROU assets |  | $ | 9,302 |  |  | $ | 9,847 |
Lease liability, current |  |  | 2,264 |  |  |  | 2,263 |
Lease liability, long-term |  |  | 7,737 |  |  |  | 8,295 |
Total lease liabilities |  | $ | 10,001 |  |  | $ | 10,558 |
Weighted-average remaining lease term (in years) |  |  | 3.7 |  |  | 4.7 |
Weighted-average discount rate (annualized) |  |  | 4.5 | % |  |  | 4.5 | %
Other information related to leases are as follows:
|  | Three Months Ended March 31, |
($ in thousands) |  | 2023 |  |  | 2022 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 675 |  |  | $ | 645 |
ROU assets obtained in exchange for lease liabilities: |  |  |  |  |  |
Operating leases |  |  | — |  |  |  | 1,532 |
The following table presents a maturity analysis of the Company’s operating leases liabilities as of March 31, 2023:
($ in thousands) |  |  |
2023 |  | $ | 2,011 |
2024 |  |  | 2,499 |
2025 |  |  | 2,328 |
2026 |  |  | 2,232 |
2027 |  |  | 1,410 |
Thereafter |  |  | 561 |
Total undiscounted lease payments |  |  | 11,041 |
Less: Imputed interest |  |  | 1,040 |
Total lease liabilities |  | $ | 10,001 |

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

X
- Definition The entire disclosure for commitments and contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -URI https://asc.fasb.org/topic&trid=2144648 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 954 -SubTopic 440 -Section 50 -Paragraph 1 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6491277&loc=d3e6429-115629 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI https://asc.fasb.org/topic&trid=2127136 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 440 -SubTopic 10 -Section 50 -Paragraph 4 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=123406679&loc=d3e25336-109308 + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration