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Leases (Notes) | 12 Months Ended
--- | ---
Dec. 31, 2021
Leases [Abstract] |
Leases | Leases Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands):
|  |  |  | As of
|  | Classification |  | December 31, 2021 |  | December 31, 2020
Assets |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 25,431 |  |  | $ | 31,520 |
Finance lease assets |  | Property and equipment, net of accumulated depreciation |  | 1,727 |  |  | 2,464 |
Total lease assets |  |  |  | $ | 27,158 |  |  | $ | 33,984 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Accrued liabilities |  | $ | 10,956 |  |  | $ | 11,974 |
Finance |  | Current portion of long-term debt |  | 860 |  |  | 1,322 |
Noncurrent |  |  |  |  |  |
Operating |  | Operating lease liabilities |  | $ | 34,745 |  |  | 44,536 |
Finance |  | Long-term debt, net of current portion |  | 353 |  |  | $ | 950 |
Total lease liabilities |  |  |  | $ | 46,914 |  |  | $ | 58,782 |
The following table summarizes the components of lease expenses for the twelve months ended December 31, 2021 (in thousands):
|  |  |  | Twelve Months Ended December 31,
Lease Cost |  | Classification |  | 2021 |  | 2020
Operating lease cost |  | Cost of sales and Selling, general and administrative expenses |  | $ | 11,123 |  |  | $ | 8,439 |
Finance lease cost |  |  |  |  |  |
Amortization of leased assets |  | Selling, general and administrative expenses |  | 1,061 |  |  | 932 |
Interest on lease liabilities |  | Interest expense |  | 110 |  |  | 155 |
Sublease income |  | Cost of sales and Selling, general and administrative expenses |  | (2,184) |  |  | (2,001) |
Net lease cost |  |  |  | $ | 10,110 |  |  | $ | 7,525 |
The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2022 |  | $ | 13,199 |  |  | $ | 860 |  |  | $ | 14,059 |
2023 |  | 8,631 |  |  | 316 |  |  | 8,947 |
2024 |  | 7,053 |  |  | 97 |  |  | 7,150 |
2025 |  | 6,105 |  |  | 6 |  |  | 6,111 |
2026 |  | 5,053 |  |  | — |  |  | 5,053 |
Thereafter |  | 15,862 |  |  | — |  |  | 15,862 |
Total lease payments |  | 55,903 |  |  | 1,279 |  |  | 57,182 |
Less: present value discount |  | (10,202) |  |  | (66) |  |  | (10,268) |
Present value of lease liabilities |  | $ | 45,701 |  |  | $ | 1,213 |  |  | $ | 46,914 |
The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2021:
Lease Term and Discount Rate |  | December 31, 2021 |  | December 31, 2020
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 6.4 years |  | 6.6 years
Financing leases |  | 1.5 years |  | 1.8 years
Weighted-average discount rate |  |  |  |
Operating leases |  | 6.58 | % |  | 6.58 | %
Financing leases |  | 6.58 | % |  | 6.58 | %
The following table summarizes the supplemental cash flow information related to leases as of December 31, 2021:
|  | Twelve Months Ended December 31,
|  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 13,053 |  |  | $ | 11,038 |
Operating cash flows from finance leases |  | 92 |  |  | 80 |
Financing cash flows from finance leases |  | $ | 1,517 |  |  | $ | 1,179 |
Leases | Leases Our lease portfolio primarily consists of operating leases for certain manufacturing facilities, warehouses, service facilities, office spaces, equipment and vehicles. The following table summarizes the supplemental balance sheet information related to leases as of December 31, 2021 and 2020 (in thousands):
|  |  |  | As of
|  | Classification |  | December 31, 2021 |  | December 31, 2020
Assets |  |  |  |  |  |
Operating lease assets |  | Operating lease assets |  | $ | 25,431 |  |  | $ | 31,520 |
Finance lease assets |  | Property and equipment, net of accumulated depreciation |  | 1,727 |  |  | 2,464 |
Total lease assets |  |  |  | $ | 27,158 |  |  | $ | 33,984 |
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating |  | Accrued liabilities |  | $ | 10,956 |  |  | $ | 11,974 |
Finance |  | Current portion of long-term debt |  | 860 |  |  | 1,322 |
Noncurrent |  |  |  |  |  |
Operating |  | Operating lease liabilities |  | $ | 34,745 |  |  | 44,536 |
Finance |  | Long-term debt, net of current portion |  | 353 |  |  | $ | 950 |
Total lease liabilities |  |  |  | $ | 46,914 |  |  | $ | 58,782 |
The following table summarizes the components of lease expenses for the twelve months ended December 31, 2021 (in thousands):
|  |  |  | Twelve Months Ended December 31,
Lease Cost |  | Classification |  | 2021 |  | 2020
Operating lease cost |  | Cost of sales and Selling, general and administrative expenses |  | $ | 11,123 |  |  | $ | 8,439 |
Finance lease cost |  |  |  |  |  |
Amortization of leased assets |  | Selling, general and administrative expenses |  | 1,061 |  |  | 932 |
Interest on lease liabilities |  | Interest expense |  | 110 |  |  | 155 |
Sublease income |  | Cost of sales and Selling, general and administrative expenses |  | (2,184) |  |  | (2,001) |
Net lease cost |  |  |  | $ | 10,110 |  |  | $ | 7,525 |
The maturities of lease liabilities as of December 31, 2021 are as follows (in thousands):
|  | Operating Leases |  | Finance Leases |  | Total
2022 |  | $ | 13,199 |  |  | $ | 860 |  |  | $ | 14,059 |
2023 |  | 8,631 |  |  | 316 |  |  | 8,947 |
2024 |  | 7,053 |  |  | 97 |  |  | 7,150 |
2025 |  | 6,105 |  |  | 6 |  |  | 6,111 |
2026 |  | 5,053 |  |  | — |  |  | 5,053 |
Thereafter |  | 15,862 |  |  | — |  |  | 15,862 |
Total lease payments |  | 55,903 |  |  | 1,279 |  |  | 57,182 |
Less: present value discount |  | (10,202) |  |  | (66) |  |  | (10,268) |
Present value of lease liabilities |  | $ | 45,701 |  |  | $ | 1,213 |  |  | $ | 46,914 |
The following table summarizes the weighted-average remaining lease term and weighted average discount rates related to leases as of December 31, 2021:
Lease Term and Discount Rate |  | December 31, 2021 |  | December 31, 2020
Weighted-average remaining lease term (years) |  |  |  |
Operating leases |  | 6.4 years |  | 6.6 years
Financing leases |  | 1.5 years |  | 1.8 years
Weighted-average discount rate |  |  |  |
Operating leases |  | 6.58 | % |  | 6.58 | %
Financing leases |  | 6.58 | % |  | 6.58 | %
The following table summarizes the supplemental cash flow information related to leases as of December 31, 2021:
|  | Twelve Months Ended December 31,
|  | 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from operating leases |  | $ | 13,053 |  |  | $ | 11,038 |
Operating cash flows from finance leases |  | 92 |  |  | 80 |
Financing cash flows from finance leases |  | $ | 1,517 |  |  | $ | 1,179 |

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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 http://asc.fasb.org/subtopic&trid=77888251 + Details
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