| Leases |
The Company has operating and finance leases for buildings and other assets such as vehicles and office equipment. The Company’s leases have remaining lease terms ranging from 1 year to 4 years. The tables below present financial information related to the Company’s leases. Supplemental balance sheets information related to leases as of June 30, 2022 and December 31, 2021 are as follows (in thousands):
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Operating lease |
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Operating lease right-of-use assets |
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$ |
3,322 |
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$ |
4,275 |
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Finance lease |
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Property, plant and equipment, net |
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87 |
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126 |
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$ |
3,409 |
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$ |
4,401 |
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Current |
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Operating |
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Operating lease liabilities |
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$ |
1,838 |
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$ |
2,323 |
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Finance |
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Other current liabilities |
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64 |
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68 |
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Operating |
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Non-current operating lease liabilities |
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1,485 |
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1,952 |
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Finance |
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Other non-current liabilities |
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34 |
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73 |
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$ |
3,421 |
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$ |
4,416 |
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| The following table presents the weighted average remaining lease term and discount rate:
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Weighted average remaining lease term |
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Operating leases |
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2.2 years |
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2.4 years |
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Finance leases |
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1.5 years |
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2.0 years |
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Weighted average discount rate |
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Operating leases |
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3.99 |
% |
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4.20 |
% |
Finance leases |
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7.75 |
% |
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7.75 |
% | The components of lease cost included in the Company’s consolidated statements of operations, are as follows (in thousands):
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Operating lease cost |
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$ |
612 |
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$ |
727 |
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$ |
1,181 |
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$ |
1,407 |
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Finance lease cost |
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14 |
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16 |
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30 |
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33 |
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Interest on lease liabilities |
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3 |
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3 |
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5 |
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7 |
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Total lease cost |
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$ |
629 |
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$ |
746 |
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$ |
1,216 |
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$ |
1,447 |
| The above table does not include an immaterial cost of short-term leases for the six months ended June 30, 2022 and 2021 . Other lease information is as follows (in thousands):
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Cash paid for amounts included in the measurement of lease liabilities |
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| Operating cash flows from operating leases |
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$ |
612 |
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$ |
727 |
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$ |
1,181 |
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$ |
1,407 |
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| Operating cash flows from finance leases |
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3 |
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3 |
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5 |
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7 |
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| Financing cash flows from finance leases |
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16 |
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17 |
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32 |
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33 |
| The aggregate future lease payments for operating and finance leases as of June 30, 2022 are as follows (in thousands):
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| Remainder of 2022 |
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$ |
1,210 |
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$ |
35 |
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| 2023 |
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1,142 |
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69 |
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| 2024 |
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706 |
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— |
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| 2025 |
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423 |
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— |
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| 2026 |
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6 |
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— |
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| Total future lease payments |
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3,487 |
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104 |
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| Less: Imputed interest |
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(164 |
) |
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(6 |
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| Present value of future payments |
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$ |
3,323 |
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$ |
98 |
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