Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.24.1
Leases (Tables)
12 Months Ended
Dec. 31, 2023
Leases [Abstract]  
Changes in the Carrying Amounts of Company's AROs

Changes in the carrying amounts of the Company’s AROs for the years ended December 31, 2023 and 2022 are shown below (in thousands):

    

2023

    

2022

Balance at beginning of year

$

1,295

$

1,625

Revisions in estimated cash flows

(454)

Accretion expense

111

124

Balance at end of year

$

1,406

$

1,295

Components of Lease Expense

The components of lease expense for the years ended December 31, 2023 and 2022 were as follows (in thousands):

    

2023

    

2022

Operating leases

Operating lease expense

$

2,909

$

2,611

Variable lease expense

553

524

Total operating lease expense

$

3,462

$

3,135

Schedule of Balance Sheets Classification of Leases

The following table summarizes the balance sheet classification of leases as of December 31, 2023 (in thousands):

Operating leases

    

Operating lease right-of-use assets

$

9,161

Operating lease liabilities, current1

$

2,488

Operating lease liabilities, non-current

9,742

Total operating lease liabilities

$

12,230

1. Included in other current liabilities.
Schedule of Leases Information

The following table presents other information on leases as of December 31, 2023 and 2022 (in thousands):

    

2023

    

2022

Weighted average remaining lease term, operating leases

4.65

years

5.54

years

Weighted average discount rate, operating leases

8.21

%  

8.21

%

Schedule of Maturities of Operating Lease Liabilities

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, 2023 (in thousands):

    

Operating Leases

2024

$

3,369

2025

3,299

2026

2,564

2027

2,636

2028

2,148

Thereafter

724

Total lease payments

14,740

Less:

Imputed interest

(2,510)

Total lease liabilities

$

12,230

Supplemental Cash Flow Information

Supplemental cash flow information related to the Company’s leases were as follows for the years ended December 31, 2023 and 2022 (in thousands):

    

2023

    

2022

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

Operating cash flows operating leases

$

3,288

$

3,252