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Leases
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases Leases
Total Lease Cost
Individual components of the total lease cost incurred by the Company are as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2021202020212020
Operating lease cost$1,023 $1,035 $2,046 $2,069 
Finance lease cost:
Amortization of right-of-use assets11 26 20 75 
Interest on finance lease liabilities1 7 1 24 
Total lease cost$1,035 $1,068 $2,067 $2,168 
Reduction in carrying amounts of right-of-use assets held under finance leases is included in depreciation expense. Minimum rental payments under operating leases are recognized on a straight-line method over the term of the lease including any periods of free rent and are included in selling, general, and administrative expense on the unaudited condensed consolidated statement of operations.
Maturity of Leases
The amounts of undiscounted future minimum lease payments under leases as of June 30, 2021 are as follows:
(in thousands)OperatingFinance
Remainder of 2021$1,812 $23 
20223,665 37 
20233,699 28 
20243,549 14 
20253,619 — 
Thereafter43,540 — 
Total undiscounted minimum future lease payments59,884 102 
Imputed interest26,676 4 
Present value of lease liabilities$33,208 $98 
Lease Term and Discount Rate
Weighted-average remaining lease termJune 30, 2021December 31, 2020
Operating leases15.01 years15.47 years
Finance leases2.44 years2.91 years
Weighted-average discount rate
Operating leases8.34 %8.33 %
Finance leases2.65 %2.44 %
During the three and six months ended June 30, 2021, no right-of-use assets were recognized in exchange for new operating lease liabilities.
Leases Leases
Total Lease Cost
Individual components of the total lease cost incurred by the Company are as follows:
Three Months Ended June 30,Six Months Ended June 30,
(in thousands)2021202020212020
Operating lease cost$1,023 $1,035 $2,046 $2,069 
Finance lease cost:
Amortization of right-of-use assets11 26 20 75 
Interest on finance lease liabilities1 7 1 24 
Total lease cost$1,035 $1,068 $2,067 $2,168 
Reduction in carrying amounts of right-of-use assets held under finance leases is included in depreciation expense. Minimum rental payments under operating leases are recognized on a straight-line method over the term of the lease including any periods of free rent and are included in selling, general, and administrative expense on the unaudited condensed consolidated statement of operations.
Maturity of Leases
The amounts of undiscounted future minimum lease payments under leases as of June 30, 2021 are as follows:
(in thousands)OperatingFinance
Remainder of 2021$1,812 $23 
20223,665 37 
20233,699 28 
20243,549 14 
20253,619 — 
Thereafter43,540 — 
Total undiscounted minimum future lease payments59,884 102 
Imputed interest26,676 4 
Present value of lease liabilities$33,208 $98 
Lease Term and Discount Rate
Weighted-average remaining lease termJune 30, 2021December 31, 2020
Operating leases15.01 years15.47 years
Finance leases2.44 years2.91 years
Weighted-average discount rate
Operating leases8.34 %8.33 %
Finance leases2.65 %2.44 %
During the three and six months ended June 30, 2021, no right-of-use assets were recognized in exchange for new operating lease liabilities.