Quarterly report pursuant to Section 13 or 15(d)

Operating and Finance Lease Right-of-Use Assets (Tables)

v3.22.2
Operating and Finance Lease Right-of-Use Assets (Tables)
 6 Months Ended
Jun. 30, 2022
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases is as follows:
 
    
June 30, 2022
  
    
(Dollars in thousands)
  
Operating Leases
    Related Party      Other      Total  
Operating leases ROU assets
    $ 6,717      $ 37,303      $ 44,020  
Operating lease liabilities (current)
    $ 877      $ 7,918      $ 8,795  
Operating lease liabilities
(non-current)
      5,944        36,655        42,599  
    
 
 
     
 
 
     
 
 
  
Total operating lease liabilities
    $ 6,821      $ 44,573      $ 51,394  
    
 
 
     
 
 
     
 
 
  
 
Weighted Average Remaining Lease Term
         
Operating leases
      7.6 years  
Finance leases
      2.6 years  
Weighted Average Discount Rate
         
Operating leases
      8.11 % 
Finance leases
      6.18 % 
Components of Lease Expense
The components of lease expense were as follows:
 
    
Six Months Ended
June 30, 2022
  
    
(Dollars in thousands)
  
Amortization of finance lease ROU Assets
    $ 30  
Interest on finance lease liabilities
      4  
    
 
 
  
Finance lease expense
      34  
Operating lease expense
      6,479  
Variable lease expense
      290  
Short-term lease expense
      623  
    
 
 
  
Total lease expense
    $ 7,426  
    
 
 
  
Schedule of other information related to leases
Supplemental cash flow information related to leases was as follows:
 
    
Six Months Ended
June 30, 2022
  
    
(Dollars in thousands)
  
Cash paid for amounts included in the measurement of lease liabilities:
         
Operating cash flows from operating leases
    $ 7,519  
Operating cash flows from finance leases
      2  
Financing cash flows from finance leases
      31  
Leased assets obtained in exchange for new operating lease liabilities
    $ 5,569  
Leased assets obtained in exchange for new finance lease liabilities
      17  
Schedule of Future Minimum Lease Payments Based on Former Accounting Guidance
Future minimum lease payments under leases that had initial or remaining
non-cancelable
lease terms in excess of one year as of June 30, 2022, are as follows:
 
     Operating Leases              
     Related Party     Other     Total     Finance Leases     Total  
                                
    
(Dollars in thousands)
  
2023
(July-Dec)
    $ 1,308     $ 10,620     $ 11,928     $ 60     $ 11,988  
2024
      1,250       10,022       11,272       26       11,298  
2025
      1,274       8,547       9,821       21       9,842  
2026
      1,280       7,475       8,755       8       8,763  
2027
      865       4,355       5,220       4       5,224  
Thereafter
      3,955       22,801       26,756       1       26,757  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Undiscounted Cash Flows
    $ 9,932     $ 63,820     $ 73,752     $ 120     $ 73,872  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Less: imputed interest
      (3,111 )      (19,247 )      (22,358 )      (10 )      (22,368 ) 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total
   
$
6,821
 
  
$
44,573
 
  
$
51,394
 
  
$
110
 
  
$
51,504
 
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Reconciliation to lease liabilities:
                                         
Lease liabilities – current
    $ 877     $ 7,918     $ 8,795     $ 57     $ 8,852  
Lease liabilities – long-term
      5,944       36,655       42,599       53       42,652  
    
 
 
    
 
 
    
 
 
    
 
 
    
 
 
  
Total Lease Liabilities
   
$
6,821
 
  
$
44,573
 
  
$
51,394
 
  
$
110
 
  
$
51,504