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Leases | 12 Months Ended
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Dec. 31, 2022
Leases |
Leases | (15)Leases We have four property leases in effect as of December 31, 2022, which we account for as operating leases:
| ● | A lease for our principal administrative and production facility at West 91st Avenue, Westminster, Colorado, which expires in December 2026. This lease includes two options to extend the lease by five years each at the end of the current term.
| ● | A lease for office space at 2275 Half Day Road, Bannockburn, Illinois, which expires in November 2024. This lease includes an option to extend the lease by three years at the end of the current term.
| ● | A lease for office space at 1000 Chapel View Blvd, Cranston, Rhode Island, which expires in October 2024. This lease includes an option to extend the lease by two years at the end of the current term.
| ● | A lease for laboratory and research space at 1 Hoppin Street, Providence, Rhode Island, which expires on February 1, 2024.
We also have four finance leases, three for copier equipment in our Westminster, Bannockburn and Cranston facilities, and one for laboratory equipment in our research space in Providence. The components of right-of-use assets, short-term lease liabilities and long-term lease liabilities at December 31, 2022, is as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating |  | Finance |
​ | ​ | Leases | ​ | Leases |
Right-of-use assets | ​ | $ | 1,381 | ​ | $ | 349 | (1)
Short-term lease liabilities | ​ | $ | 300 | ​ | $ | 70 | ​
Long-term lease liabilities | ​ | $ | 1,429 | ​ | $ | 164 | ​
(1)Net of accumulated depreciation, included in fixed assets The components of lease expense for the year ended December 31, 2022, were as follows:
​ | ​ | ​ | ​
Operating lease expense |  | $ | 443
Finance lease expense: | ​ |  |
Amortization of ROU assets | ​ |  | 16
Interest on lease liabilities | ​ |  | 4
Total finance lease expense | ​ |  | 20
Total lease expense | ​ | $ | 463
​ Maturities of lease liabilities under noncancellable leases as of December 31, 2022, are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Operating |  | Finance
​ | ​ | Leases | ​ | Leases
2023 | ​ | $ | 429 | ​ | $ | 87
2024 | ​ |  | 378 | ​ |  | 87
2025 | ​ |  | 205 | ​ |  | 77
2026 | ​ |  | 213 | ​ |  | 9
2027 | ​ |  | 219 | ​ |  | 7
Thereafter | ​ |  | 884 | ​ |  | —
Total undiscounted lease payments | ​ |  | 2,328 | ​ |  | 267
Less imputed interest | ​ |  | (600) | ​ |  | (33)
Total lease liabilities | ​ | $ | 1,728 | ​ | $ | 234
​ In October 2022, we recorded $38 in fixed assets for a finance lease for a copier in our Westminster facility, and $6 and $32 in current liabilities and long-term liabilities, respectively, for the related lease liabilities. In December 2022, we recorded $310 in fixed assets for a finance lease for analytical equipment in our laboratory facility in Providence, and $178 and $132 in current liabilities and long-term liabilities, respectively, for the related lease liabilities. As of December 31, 2022, the weighted average life of our operating and finance leases is eight and three years, respectively. The weighted average discount rate for both operating and finance leases is 8.1%, which is based on interest rates we paid for our most recent term loan and convertible notes. Total lease expense for the years ended December 31, 2021, was $385. We record rent expense on a straight-line basis — the terms of all leases provide for increases in rental payments over time. Future minimum lease payments for each of the five years ending December 31, 2021, were as follows:
​ | ​ | ​ | ​
2022 |  | $ | 188
2023 | ​ |  | 194
2024 | ​ |  | 199
2025 | ​ |  | 205
2026 | ​ |  | 213
Thereafter | ​ |  | 1,102
​ | ​ | $ | 2,101
​

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 840 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//840/tableOfContent + Details
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