v3.22.2.2
Leases (Tables)
 9 Months Ended
Sep. 30, 2022
Leases [Abstract]  
Schedule of Supplemental Balance Sheet Information
Supplemental balance sheet information related to leases was as follows (in thousands, except for lease term and discount rate):
September 30,
2022		December 31, 2021
Operating leases:
   Operating lease right-of-use assets, net$2,457 $2,275 
   Current operating lease liabilities 966 620 
   Noncurrent operating lease liabilities1,949 2,030 
      Total operating lease liabilities$2,915 $2,650 
Finance leases:
   Properties and equipment$7,312 $6,031 
   Accumulated amortization(4,189)(3,632)
      Properties and equipment, net$3,123 $2,399 
   Current finance lease liabilities $4,177 $3,786 
   Noncurrent finance lease liabilities62,790 64,649 
      Total finance lease liabilities$66,967 $68,435 
Weighted average remaining lease term (in years):
   Operating leases4.75.8
   Finance leases14.215.0
Weighted average discount rate:
   Operating leases4.6%4.8%
   Finance leases5.6%5.6%
Schedule of Supplemental Cash Flow Information and Components of Lease Expense
Supplemental cash flow and other information related to leases were as follows:
Nine Months Ended
September 30,
20222021
(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows on operating leases$766 $855 
Operating cash flows on finance leases$3,094 $3,110 
Financing cash flows on finance leases$2,700 $2,666 
The components of lease expense were as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
(In thousands)
Operating lease costs$248 $260 $752 $807 
Finance lease costs
   Amortization of assets213 195 594 607 
   Interest on lease liabilities938 983 2,843 2,983 
Variable lease cost206 43 265 175 
Total net lease cost$1,605 $1,481 $4,454 $4,572 
Schedule of Operating and Finance Lease Maturities
Maturities of lease liabilities were as follows:
September 30, 2022
OperatingFinance
(In thousands)
2022$280 $1,925 
2023976 7,691 
2024565 7,247 
2025485 6,787 
2026330 6,823 
2027 and thereafter525 67,463 
   Total lease payments3,161 97,936 
Less: Imputed interest(246)(30,969)
   Total lease obligations2,915 66,967 
Less: Current lease liabilities(966)(4,177)
   Noncurrent lease liabilities$1,949 $62,790 
Sales-Type Lease, Gain Recognized Because we recorded these assets at fair values under purchase price accounting, there was no gain or loss on these sales-type leases during the nine months ended September 30, 2022. The balance sheet impacts were composed of the following:
Nine Months Ended September 30, 2022
(In thousands)
Net investment in leases$233,456 
Properties and equipment, net(233,456)
Gain on sales-type leases$— 
Therefore, we recognized a gain on sales-type leases during the nine months ended September 30, 2021 composed of the following:
Nine Months Ended September 30, 2021
(In thousands)
Net investment in leases$143,720 
Properties and equipment, net(125,602)
Deferred revenue6,559 
Gain on sales-type leases$24,677 
Schedule of Lease Income
Lease income recognized was as follows:
Three Months Ended
September 30,		Nine Months Ended
September 30,
2022202120222021
(In thousands)
Operating lease revenues$84,684 $80,907 $230,279 $251,605 
Direct financing lease interest income538 521 1,578 1,568 
Gain on sales-type leases— — — 24,677 
Sales-type lease interest income23,695 6,313 59,633 18,429 
Lease revenues relating to variable lease payments not included in measurement of the sales-type lease receivable 8,013 3,167 16,859 7,272 
Schedule of Minimum Undiscounted Lease Payments
Annual minimum undiscounted lease payments under our leases were as follows as of September 30, 2022:
OperatingFinanceSales-type
Years Ending December 31,(In thousands)
Remainder of 2022$75,674 $542 $25,072 
2023272,169 2,175 96,383 
2024242,476 2,192 93,154 
2025166,290 2,209 89,727 
2026151,745 2,227 89,727 
2027 and thereafter473,243 36,610 841,406 
Total lease receipt payments$1,381,597 $45,955 $1,235,469 
Less: Imputed interest(29,661)(1,108,517)
16,294 126,952 
Unguaranteed residual assets at end of leases— 402,092 
Net investment in leases$16,294 $529,044 
Schedule of Net Investment in Leases
Net investments in leases recorded on our balance sheet were composed of the following:
September 30, 2022December 31, 2021
Sales-type LeasesDirect Financing LeasesSales-type LeasesDirect Financing Leases
(In thousands)(In thousands)
Lease receivables (1)
$420,407 $16,294 $207,768 $16,371 
Unguaranteed residual assets108,637 — 90,097 — 
Net investment in leases$529,044 $16,294 $297,865 $16,371 

(1)    Current portion of lease receivables included in prepaid and other current assets on the balance sheet.