Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.1
Operating and Finance Lease Right-of-Use Assets (Tables)
3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Supplemental Balance Sheet Information Related to Leases
Supplemental balance sheet information related to leases is as follows:
                         
    
March 31, 2022
 
    
(Dollars in thousands)
 
Operating Leases
   Related Party      Other      Total  
Operating leases ROU assets
   $ 7,142      $ 38,741      $ 45,883  
Operating lease liabilities (current)
   $ 976      $ 7,839      $ 8,815  
Operating lease liabilities
(non-current)
     6,266        38,449        44,715  
    
 
 
    
 
 
    
 
 
 
Total operating lease liabilities
   $ 7,242      $ 46,288      $ 53,530  
    
 
 
    
 
 
    
 
 
 
         
Weighted Average Remaining Lease Term
        
Operating leases
     7.7 years  
Finance leases
     2.8 years  
Weighted Average Discount Rate
        
Operating leases
     8.09
Finance leases
     6.11
Components of Lease Expense
The components of lease expense were as follows:
         
    
Three Months Ended
March 31, 2022
 
    
(Dollars in thousands)
 
Amortization of finance lease ROU Assets
   $ 15  
Interest on finance lease liabilities
     2  
    
 
 
 
Finance lease expense
     17  
Operating lease expense
     3,224  
Variable lease expense
     268  
Short-term lease expense
     158  
    
 
 
 
Total lease expense
   $ 3,667  
    
 
 
 
Schedule of other information related to leases
Supplemental cash flow information related to leases was as follows:
         
    
Three Months Ended
March 31, 2022
 
    
(Dollars in thousands)
 
Cash paid for amounts included in the measurement of lease liabilities:
        
Operating cash flows from operating leases
   $ 2,849  
Operating cash flows from finance leases
     1  
Financing cash flows from finance leases
     16  
Leased assets obtained in exchange for new operating lease liabilities
   $ 5,011  
Leased assets obtained in exchange for new finance lease liabilities
     14  
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 March 31, 2022, are as follows:
                                         
Future minimum lease    Operating Leases              
     Related Party     Other     Total     Finance Leases     Total  
    
(Dollars in thousands)
 
2023
(Apr-Dec)
   $ 1,565     $ 11,378     $ 12,943     $ 64     $ 13,007  
2024
     1,305       10,658       11,963       36       11,999  
2025
     1,307       8,719       10,026       17       10,043  
2026
     1,341       7,526       8,867       10       8,877  
2027
     1,063       5,394       6,457       5       6,462  
Thereafter
     3,955       22,635       26,590       1       26,591  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Undiscounted Cash Flows
   $ 10,536     $ 66,310     $ 76,846     $ 133     $ 76,979  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Less: imputed interest
     (3,294     (20,022     (23,316     (12     (23,328
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total
  
$
7,242
 
 
$
46,288
 
 
$
53,530
 
 
$
121
 
 
$
53,651
 
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Reconciliation to lease liabilities:
                                        
Lease liabilities—current
   $ 976     $ 7,839     $ 8,815     $ 59     $ 8,874  
Lease liabilities—long-term
     6,266       38,449       44,715       62       44,777  
    
 
 
   
 
 
   
 
 
   
 
 
   
 
 
 
Total Lease Liabilities
  
$
7,242
 
 
$
46,288
 
 
$
53,530
 
 
$
121
 
 
$
53,651