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Leases | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
Leases | (5) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one to sixteen years. We determine if an arrangement contains a lease at inception. Some leases include the options to purchase, terminate or extend for one or more years. These options are included in the right-of-use (“ROU”) asset, lease liability and lease term when it is reasonably certain an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on the information available at the lease commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, incremental lease payments that are indexed to a change in rate or index are considered variable costs. Because the ROU asset and lease liability recorded on the balance sheet were determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated result in variable expenses being incurred when actual payments differ from estimated payments. On February 25, 2021, the Company entered into an agreement to amend its lease for its corporate office and extended the term. As part of this agreement, the Company sold land owned adjacent to our corporate office for $389, and entered into a lease with the buyer of the land for a new building, containing approximately 100,000 rentable square feet, to be constructed and funded by the lessor up to a certain amount. The lease terms, as amended, extend through March 31, 2038 for both the existing building and the expansion site. The lease for the new building will not commence until construction is substantially complete, and the total estimated base rent lease payments as of September 30, 2022 are $19,236, which are not included in the lease information below as the lease has not commenced. Additionally, we entered into a lease for a new building in Littleton, CO containing approximately 50,000 rentable square feet to be constructed and funded by the lessor up to a certain amount. The lease term is for ten years upon commencement, which is when construction is substantially complete. The total estimated base rent lease payments at September 30, 2022 are $14,233, which are not included in the lease information below as the lease has not yet commenced. Balance sheet classifications at September 30, 2022 and December 31, 2021 are summarized below:
|  | September 30, 2022 |  | December 31, 2021
(in thousands) |  | Right-of-use assets |  | Current lease liabilities |  | Long-term lease liabilities |  | Right-of-use assets |  | Current lease liabilities |  | Long-term lease liabilities
Operating leases |  | $ | 38,736 |  |  | $ | 7,562 |  |  | $ | 38,858 |  |  | $ | 42,502 |  |  | $ | 7,711 |  |  | $ | 43,359 |
Finance leases |  | 3,074 |  |  | 643 |  |  | 3,153 |  |  | 3,854 |  |  | 633 |  |  | 4,061 |
Total |  | $ | 41,810 |  |  | $ | 8,205 |  |  | $ | 42,011 |  |  | $ | 46,356 |  |  | $ | 8,344 |  |  | $ | 47,420 |
Supplemental cash flow information related to our leases for the nine months ending September 30, 2022 and September 30, 2021 is as follows:
(in thousands) |  | September 30, 2022 |  | September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflow for operating leases |  | $ | 7,677 |  |  | $ | 6,938 |
Operating cash outflow for finance leases |  | $ | 148 |  |  | $ | 176 |
Financing cash outflow for finance leases |  | $ | 486 |  |  | $ | 484 |
Leases | (5) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one to sixteen years. We determine if an arrangement contains a lease at inception. Some leases include the options to purchase, terminate or extend for one or more years. These options are included in the right-of-use (“ROU”) asset, lease liability and lease term when it is reasonably certain an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate; therefore, we use our incremental borrowing rate based on the information available at the lease commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, incremental lease payments that are indexed to a change in rate or index are considered variable costs. Because the ROU asset and lease liability recorded on the balance sheet were determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated result in variable expenses being incurred when actual payments differ from estimated payments. On February 25, 2021, the Company entered into an agreement to amend its lease for its corporate office and extended the term. As part of this agreement, the Company sold land owned adjacent to our corporate office for $389, and entered into a lease with the buyer of the land for a new building, containing approximately 100,000 rentable square feet, to be constructed and funded by the lessor up to a certain amount. The lease terms, as amended, extend through March 31, 2038 for both the existing building and the expansion site. The lease for the new building will not commence until construction is substantially complete, and the total estimated base rent lease payments as of September 30, 2022 are $19,236, which are not included in the lease information below as the lease has not commenced. Additionally, we entered into a lease for a new building in Littleton, CO containing approximately 50,000 rentable square feet to be constructed and funded by the lessor up to a certain amount. The lease term is for ten years upon commencement, which is when construction is substantially complete. The total estimated base rent lease payments at September 30, 2022 are $14,233, which are not included in the lease information below as the lease has not yet commenced. Balance sheet classifications at September 30, 2022 and December 31, 2021 are summarized below:
|  | September 30, 2022 |  | December 31, 2021
(in thousands) |  | Right-of-use assets |  | Current lease liabilities |  | Long-term lease liabilities |  | Right-of-use assets |  | Current lease liabilities |  | Long-term lease liabilities
Operating leases |  | $ | 38,736 |  |  | $ | 7,562 |  |  | $ | 38,858 |  |  | $ | 42,502 |  |  | $ | 7,711 |  |  | $ | 43,359 |
Finance leases |  | 3,074 |  |  | 643 |  |  | 3,153 |  |  | 3,854 |  |  | 633 |  |  | 4,061 |
Total |  | $ | 41,810 |  |  | $ | 8,205 |  |  | $ | 42,011 |  |  | $ | 46,356 |  |  | $ | 8,344 |  |  | $ | 47,420 |
Supplemental cash flow information related to our leases for the nine months ending September 30, 2022 and September 30, 2021 is as follows:
(in thousands) |  | September 30, 2022 |  | September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflow for operating leases |  | $ | 7,677 |  |  | $ | 6,938 |
Operating cash outflow for finance leases |  | $ | 148 |  |  | $ | 176 |
Financing cash outflow for finance leases |  | $ | 486 |  |  | $ | 484 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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