Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2.2
Right-of-Use Assets and Lease Liabilities (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Assets And Liabilities, Lessee The Company’s operating leases were as follows:
September 30, 2022
(in thousands)
Right-of-use assets, net $ 8,802 
Current operating lease liabilities (1)
$ 5,207 
Operating lease liabilities, long-term 11,051 
Total operating lease liabilities $ 16,258 
(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 nine months ended September 30, 2022 and were as follows:
Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022
(in thousands)
Operating lease cost $ 981  $ 2,764 
Short-term lease cost 137  470 
Variable lease cost 12  36 
Total lease cost $ 1,130  $ 3,270 
Supplemental cash flow information related to leases was as follows:
Nine Months Ended September 30, 2022
(in thousands)
Cash paid for amounts included in measurement of operating lease liabilities $ 4,193 
ROU assets obtained in exchange for operating lease liabilities $ 10,896 
The weighted-average remaining lease term and weighted-average discount rate for the Company’s operating leases were as follows:
September 30, 2022
Weighted-average remaining lease term (in years) 4.22
Weighted-average discount rate 4.6  %
Lessee, Operating Lease, Liability, Maturity Maturities of the Company’s operating lease liabilities were as follows:
September 30, 2022
(in thousands)
2022 (excluding the nine months ended September 30, 2022) $ 1,499 
2023 5,958 
2024 3,636 
2025 2,166 
2026 1,357 
Thereafter 3,392 
Total lease payments 18,008 
     Less amount representing interest (1,750)
          Total present value of lease liabilities $ 16,258 
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, 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 (146)
Payments (874)
Foreign currency translation (390)
Balance at September 30, 2022
 $ 1,337