Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.23.2
Leases (Tables)
6 Months Ended
Jun. 30, 2023
Leases  
Schedule of components of lease expense

The components of lease expense for the six months ended June 30, 2023 and 2022 are as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

June 30, 

 

June 30, 

 

​

​

2023

 

2022

 

Lease cost

​

​

​

​

​

​

​

Operating lease cost

 

$

7,943

 

$

7,317

​

Finance lease cost

​

​

​

​

​

​

​

Amortization of ROU assets

​

​

102

​

​

—

​

Interest on lease liabilities

​

​

41

​

​

—

​

Total finance lease cost

​

​

143

​

​

—

​

Variable lease cost (1)

​

​

5,781

​

​

5,597

​

Short-term lease cost

​

​

488

​

​

521

​

Total lease cost

 

$

14,355

 

$

13,435

​

​

​

​

​

​

​

​

​

Weighted average remaining lease term

​

​

​

​

​

​

​

Operating leases

​

​

13 years

​

​

13 years

​

Finance leases

​

​

4.3 years

​

​

—

​

Weighted average discount rate

​

​

​

​

​

​

​

Operating leases

​

​

8.53

%

​

8.40

%

Finance leases

​

​

9.00

%

​

—

%

(1) Variable lease cost is comprised of percentage rent and common area maintenance.
Summary of components of finance lease assets and liabilities on the consolidated balance sheet

Supplemental cash flow information related to leases for the period was as follows (in thousands):

​

​

​

​

    

June 30, 

    

December 31,

​

​

2023

​

2022

Finance lease right-of-use assets (1)

​

$

884

​

$

942

Current portion of finance lease liabilities (1)

​

 

191

​

 

177

Long-term portion of finance lease liabilities (1)

​

​

700

​

​

754

(1) Finance lease assets and liabilities are included in other assets, other current liabilities, and other long-term liabilities on the consolidated balance sheet.
Schedule of supplemental cash flow information related to leases

​

​

​

​

​

​

​

​

​

​

June 30, 

​

June 30, 

​

​

2023

​

2022

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

 

​

​

​

​

​

Operating cash flows from operating leases

​

$

7,090

​

$

6,531

Operating cash flows from finance leases

​

$

102

​

$

—

Financing cash flows from finance leases

​

$

185

​

$

—

Right-of-use assets obtained in exchange for lease obligations:

​

​

​

​

​

​

Operating leases

​

$

8,034

​

$

3,709

Finance leases

 

$

43

​

$

—

Schedule of maturities of operating lease liabilities

As of June 30, 2023, maturities of the Company’s operating lease liabilities are as follows (in thousands):

​

​

​

​

​

2023

​

$

1,382

2024

​

​

15,944

2025

​

​

15,490

2026

​

​

15,561

2027

​

​

15,950

Thereafter

​

​

140,918

Total lease payments

​

​

205,245

Less: imputed interest

​

​

(88,550)

Present value of operating lease liabilities

 

$

116,695

Schedule of maturities of finance lease liabilities

As of June 30, 2023, maturities of the Company’s finance lease liabilities are as follows (in thousands):

​

​

​

​

​

2023

​

$

141

2024

​

​

244

2025

​

​

244

2026

​

​

244

2027

​

​

203

Total lease payments

​

​

1,076

Less: imputed interest

​

​

(185)

Present value of finance lease liabilities

 

$

891