Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.23.1
Leases (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Changes in Carrying Amount of Company's AROs

Changes in the carrying amounts of the Company’s AROs for the years ended December 31, 2022 and 2021 are shown below (in thousands):

 

 

2022

 

 

2021

 

Balance at beginning of year

 

$

1,625

 

 

$

1,490

 

Revisions in estimated cash flows

 

 

(454

)

 

 

 

Accretion expense

 

 

124

 

 

 

135

 

Balance at end of year

 

$

1,295

 

 

$

1,625

 

 

Components of Lease Expense

The components of lease expense for the years ended December 31, 2022 and 2021 were as follows (in thousands):

 

 

2022

 

 

2021

 

Operating leases

 

 

 

 

 

 

 

 

Operating lease expense

 

$

2,611

 

 

$

2,778

 

Variable lease expense

 

 

524

 

 

 

476

 

Total operating lease expense

 

$

3,135

 

 

$

3,254

 

 

Schedule of Balance Sheets Classification of Leases

The following table summarizes the balance sheet classification of leases at December 31, 2022 (in thousands):

Operating leases

 

 

 

 

Operating lease right-of-use assets

 

$

11,132

 

 

 

 

 

 

Operating lease liabilities, current1

 

$

2,182

 

Operating lease liabilities, non-current

 

 

12,231

 

Total operating lease liabilities

 

$

14,413

 

 

 

 

 

 

 

1.

Included in other current liabilities.

Schedule of Leases Information

The following table presents other information on leases as of December 31, 2022 and December 31, 2021 (in thousands):

 

 

2022

 

 

2021

 

Weighted average remaining lease term, operating leases

 

5.54 years

 

 

5.65 years

 

Weighted average discount rate, operating leases

 

 

8.21

%

 

 

7.02

%

 

Schedule of Future Minimum Payments Under Operating Leases

 

Future minimum payments required under operating leases that have initial or remaining non-cancelable lease terms in excess of one year as of December 31, 2022 (in thousands):

 

 

Operating Leases

 

 

 

 

 

 

2023

 

 

3,255

 

2024

 

 

3,369

 

2025

 

 

3,299

 

2026

 

 

2,564

 

Thereafter

 

 

5,509

 

Total lease payments

 

 

17,996

 

Less:

 

 

 

 

Imputed interest

 

 

(3,583

)

Total lease liabilities

 

$

14,413

 

 

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company’s leases were as follows for the years ended December 31, 2022 and 2021 (in thousands):

 

 

2022

 

 

2021

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows operating leases

 

$

3,252

 

 

$

3,204

 

Financing cash flows finance leases

 

$

 

 

$

1