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Leases (Tables)
 12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Lease Cost Recognized in Consolidated Statement of Operations and Other Information

Lease cost recognized in the Company’s Consolidated Statements of Operations and other information is summarized as follows:

 

 

 

Years Ended December 31,

 

(In Thousands)

 

2020

 

 

2021

 

Operating lease cost

 

$

1,700

 

 

$

1,862

 

Short-term operating lease cost

 

 

46

 

 

 

8

 

Total operating lease cost

 

 

1,746

 

 

 

1,870

 

Other information:

 

 

 

 

 

 

 

 

Weighted-average remaining lease term -

   operating leases

 

2.8 years

 

 

1.9 years

 

Weighted-average discount rate -

   operating leases (1)

 

 

4.8

%

 

 

4.8

%

 

(1)

The discount rate used to compute the present value of the total lease liabilities as of December 31, 2020 and 2021 was based on the Company’s estimated incremental borrowing rate of similar secured borrowings availabe to the Company as of the commencement date of lease.

 
Schedule of Operating Lease Liabilities

As of December 31, 2021, the Company’s operating lease liabilities were as follows:

(In Thousands)

 

Total

 

Gross future operating lease payments

 

$

3,415

 

Less: imputed interest

 

 

(155

)

Present value of total operating lease liabilities

 

 

3,260

 

Less: current portion of operating lease liabilities

 

 

(1,794

)

Total long-term operating lease liabilities

 

$

1,466