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Leases

9 Months Ended

Sep. 30, 2021

Note 11. Leases

The Company has operating and finance leases for corporate offices and certain equipment. These leases have remaining lease terms of one year to approximately nine years, some of which include options to extend the leases for multiple renewal periods of five years each. Under the terms of the facilities leases, the Company is required to pay its proportionate share of property taxes, insurance and normal maintenance costs. As of September 30, 2021 and December 31, 2020, assets recorded under finance leases were $0.3 million and $0.3 million, respectively, and accumulated depreciation associated with finance leases was $0.1 million and $0.08 million, respectively.

The components of lease cost were as follows (in thousands):


	September 30,
	2021		2020
Operating lease cost	$	3,162	$	971
Finance lease cost:
Amortization of right-of-use assets		46		30
Interest on finance lease liabilities		6		8
		52		38
Total lease cost	$	3,214	$	1,009

Other information related to leases was as follows (in thousands):


	Nine Months Ended
Supplemental Cash Flows Information	September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	2,862
Operating cash flows from finance leases	$	52
Financing cash flows from finance leases	$	46

Right-of-use assets obtained in exchange for lease liabilities (in thousands):
Operating leases	$	6,810
Finance leases	$	—

Weighted-Average Remaining Lease Term
Operating leases		6.0 years
Finance leases		2.3 years

Weighted-Average Discount Rate
Operating leases		5.3	%
Finance leases		5.3	%

Future minimum lease payments under non-cancellable leases that have commenced as of September 30, 2021 were as follows (in thousands):


Years Ending December 31	Operating Leases		Finance Leases
2021 (excluding the nine months ended September 30, 2021)	$	259	$	14
2022		3,137		58
2023		2,739		61
2024		2,480		—
2025		2,213		—
Thereafter		12,379		—
Total future minimum lease payments		23,207		133
Less imputed interest		(4,032)		(8)
Total	$	19,175	$	125


	Operating		Finance
Reported as of September 30, 2021	Leases		Leases
Current lease liabilities	$	2,820	$	61
Noncurrent lease liabilities		16,355		64
Total	$	19,175	$	125