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LEASES | 9 Months Ended
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Sep. 30, 2022
Leases [Abstract] |
LEASES | LEASES Operating Leases The Company has operating leases for office and warehouse space and certain equipment. In certain of the Company’s lease agreements, the rental payments are adjusted periodically based on defined terms within the lease. The Company did not have any finance leases as of September 30, 2022 and 2021, respectively, or for the nine-month periods then ended, respectively. Our leases relating to office and warehouse space have lease terms of 18 months to 126 months. Our leases relating to equipment have lease terms of 24 months to 203 months, with certain of them having automatic renewal clauses. The Company’s warehouse agreements also contain non-lease components, in the form of payments towards variable logistics services and labor charges, which the Company is obligated to pay based on the services consumed by it. Such amounts are not included in the measurement of the lease liability but are. recognized as expenses when they are incurred. The operating lease expense was $1.7 million and $1.4 million for the three months ended September 30, 2022 and 2021, respectively, and $5.2 million and $3.8 million for the nine months ended September 30, 2022 and 2021, respectively. Supplemental cash flow information related to the Company’s operating leases was as follows (in thousands):
| Nine months ended September 30,
| 2022 |  | 2021
Cash paid for amounts included in the measurements of lease liabilities |  |  |
Operating cash flow used in operating leases | $ | 5,413 |  |  | $ | 3,175 |
Right-of-use assets obtained in exchange for lease obligations |  |  |
Operating leases | $ | 103 |  |  | $ | 9,745 |
As of September 30, 2022, the weighted average remaining lease term was 60 months and the weighted average discount rate was 2.1%. The following table presents the maturity of the Company’s operating lease liabilities as of September 30, 2022 (in thousands):
2022 (excluding the nine months ended September 30, 2022) | $ | 1,787 |
2023 | 6,241 |
2024 | 5,693 |
2025 | 5,825 |
2026 | 4,160 |
Thereafter | 5,412 |
Total lease payments | $ | 29,118 |
Less: imputed interest | (1,418) |
Total | $ | 27,700 |

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