Leases

3 Months Ended

Mar. 31, 2022

Note 17. Leases

The Company has operating leases for offices, vehicles and equipment. Leases with a term of 12 months or less are not recorded on the consolidated balance sheets, and are expensed on a straight-line basis over the lease term.

Right-of-use assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. The Company’s lease payments are typically fixed or contain fixed escalators. The Company’s leases typically include certain lock-in periods and renewal options to extend the lease, but does not consider options to extend the lease it is not reasonably certain to exercise. The Company elected the practical expedient to not separate the lease and non-lease components of its leases and currently has no leases with options to purchase the leased property.

The components of lease expense were as follows and are included in general and administrative expense (unaudited and in thousands):


	Three Months Ended March 31,
	2021		2022
Operating lease cost	$	664	$	609
Short-term lease cost		72		134
Variable lease costs		123		143
Total lease expense	$	859	$	886

Supplemental balance sheet information related to leases were as follows (in thousands, except lease term and discount rate):


	Balance Sheet Caption	December 31, 2021			March 31, 2022
					(unaudited)
Operating leases:
Operating lease assets	Operating lease assets	$	5,899		$	5,399
Current lease liabilities	Other current liabilities	$	2,116		$	2,119
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	4,112		$	3,574
Weighted average remaining lease term (years):
Operating leases			3.35			3.17
Weighted average discount rate:
Operating leases			6.15	%		6.12	%

Supplemental cash flow information related to leases were as follows (unaudited and in thousands):


	Three Months Ended March 31,
	2021		2022
Supplemental cash flow information:
Cash paid for amounts included in the measurement of lease liabilities	$	698	$	674

The Company’s current lease terms range from one to five years and may include options to extend the lease by one to four years.

Remaining maturities on lease liabilities as of March 31, 2022 is as follows (unaudited and in thousands):


	Operating leases
2022 (April - December)	$	1,836
2023		2,096
2024		1,079
2025		836
2026		410
Thereafter		—
Total lease payments		6,257
Less: interest		564
Present value of lease liabilities	$	5,693

As of March 31, 2022, the Company does not have any leases that have not yet commenced.