Quarterly report pursuant to Section 13 or 15(d)

Right-of-Use Assets and Lease Liabilities (Tables)

v3.22.2
Right-of-Use Assets and Lease Liabilities (Tables)
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Assets And Liabilities, Lessee
The Company’s operating leases were as follows:
June 30, 2022
(in thousands)
Right-of-use assets, net $ 9,794 
Current operating lease liabilities (1)
$ 5,358 
Operating lease liabilities, long-term 12,572 
Total operating lease liabilities $ 17,930 
(1) Current lease liabilities are recorded in other current liabilities on the Company’s condensed consolidated balance sheets.
Lease, Cost The components of lease cost are recorded in selling, general, and administrative expenses for the three and six months ended June 30, 2022 and were as follows:
Three Months Ended June 30, 2022 Six Months Ended June 30, 2022
(in thousands)
Operating lease cost $ 884  $ 1,783 
Short-term lease cost 165  333 
Variable lease cost 12  24 
Total lease cost $ 1,061  $ 2,140 
Supplemental cash flow information related to leases was as follows:
Six Months Ended June 30, 2022
(in thousands)
Cash paid for amounts included in measurement of operating lease liabilities $ 2,697 
ROU assets obtained in exchange for operating lease liabilities $ 11,150 
The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating leases were as follows:
June 30, 2022
Weighted-average remaining lease term (in years) 4.34
Weighted-average discount rate 4.6  %
Lessee, Operating Lease, Liability, Maturity Maturities of the Company’s operating lease liabilities were as follows:
June 30, 2022
(in thousands)
2022 (excluding the six months ended June 30, 2022) $ 2,999 
2023 6,091 
2024 3,758 
2025 2,274 
2026 1,388 
Thereafter 3,392 
Total lease payments 19,902 
     Less amount representing interest (1,972)
          Total present value of lease liabilities $ 17,930 
Cease-use Liability The following table summarizes the activity for the liability for cease-use costs for the periods presented:
Cease-use Liability
(in thousands)
Balance at December 31, 2021
 $ 11,588 
Cease-use costs 160 
Reclassified as a reduction to the beginning ROU asset upon adoption of ASC 842 (9,001)
Accretion of liability (101)
Payments (653)
Foreign currency translation (214)
Balance at June 30, 2022
 $ 1,779