Annual report pursuant to Section 13 and 15(d)

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

v3.22.4
Right-of-Use Assets and Lease Liabilities (Tables)
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Assets And Liabilities, Lessee
The Company’s operating leases were as follows:
Year Ended
December 31, 2022
(in thousands)
Right-of-use assets, net $ 8,423 
Current operating lease liabilities (1)
$ 5,509 
Operating lease liabilities, long-term 10,055 
Total operating lease liabilities $ 15,564 
(1) Current lease liabilities are recorded in other current liabilities on the Company’s consolidated balance sheets.
Lease, Cost
The components of lease cost are recorded in selling, general, and administrative expenses for the year ended December 31, 2022 and were as follows:
Year Ended
December 31, 2022
(in thousands)
Operating lease cost $ 3,745 
Short-term lease cost 435 
Variable lease cost 47 
Sublease income (483)
Total lease cost $ 3,744 
Supplemental cash flow information related to leases was as follows:
Year Ended
December 31, 2022
(in thousands)
Cash paid for amounts included in measurement of operating lease liabilities $ 5,687 
ROU assets obtained in exchange for operating lease liabilities $ 11,396 
The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating leases were as follows:
December 31, 2022
Weighted-average remaining lease term (in years) 4.07
Weighted-average discount rate 4.7  %
Lessee, Operating Lease, Liability, Maturity
Maturities of the Company’s operating lease liabilities as of December 31, 2022 were as follows:
Year Ended December 31,
(in thousands)
2023 $ 6,251 
2024 3,821 
2025 2,327 
2026 1,393 
2027 1,065 
Thereafter 2,327 
Total lease payments 17,184 
Less amount representing interest (1,620)
Total $ 15,564 
As of December 31, 2021, future minimum lease payments for operating leases under ASC Topic 840, Leases, were as follows:
Year Ended December 31,
(in thousands)
2022 $ 6,757 
2023 6,782 
2024 4,030 
2025 2,934 
2026 2,190 
Thereafter 4,117 
Total $ 26,810 
Schedule of Restructuring Reserve by Type of Cost 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, 2020 $ — 
Cease-use costs 10,673 
Adjustments to deferred rent 1,168 
Cash payments (253)
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)
Change in estimate (723)
Accretion of liability (194)
Payments (908)
Foreign currency translation (238)
Balance at December 31, 2022 $ 684