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Leases
3 Months Ended
Mar. 31, 2022
Leases  
Leases

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.

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

Three Months Ended March 31,

    

2022

    

2021

Operating lease cost

$

1,244

$

922

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

Supplemental Cash Flows Information

Three Months Ended March 31, 

 

    

2022

    

2021

Cash paid for amounts included in the measurement of lease liabilities:

 

 

Operating cash flows from operating leases

 

$

1,210

 

$

851

Right-of-use assets obtained in exchange for lease liabilities (in thousands):

 

 

Operating leases

$

766

$

2,781

March 31, 

December 31,

 

    

2022

    

2021

 

Weighted-Average Remaining Lease Term

 

 

Operating leases

 

5.9 years

5.6 years

Weighted-Average Discount Rate

 

  

 

  

Operating leases

 

5.1%

5.1%

Future minimum lease payments under non-cancellable leases that have commenced as of March 31, 2022 were as follows (in thousands):

Years Ending December 31, 

Operating Leases

2022 (excluding the three months ended March 31, 2022)

$

3,464

2023

 

4,147

2024

 

3,623

2025

 

2,982

2026

 

2,833

Thereafter

5,626

Total future minimum lease payments

 

22,675

Less imputed interest

 

(3,715)

Total

$

18,960

Operating

Reported as of March 31, 2022

    

 Leases

Current lease liabilities

$

3,466

Noncurrent lease liabilities

 

15,494

Total

$

18,960