v3.23.1
LEASES
3 Months Ended
Mar. 31, 2023
LEASES  
LEASES

13.    LEASES

The Company has operating leases for office space, manufacturing equipment, computer equipment and automobiles. Many leases include one or more options to renew, some of which include options to extend the leases for a long-term period, and some leases include options to terminate the leases within 30 days. In certain of the Company’s lease agreements, the rental payments are adjusted periodically to reflect actual charges incurred for capital area maintenance, utilities, inflation and/or changes in other indexes.

Supplemental cash flow information related to the Company’s operating and finance leases for the three months ended March 31, 2023 and 2022 was as follows:

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March 31, 

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2023

​

2022

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Cash paid for operating leases

    

$

1,407

    

$

1,185

  

Cash paid for interest on finance lease obligations

    

$

108

    

$

73

  

Assets acquired under operating leases

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$

1,591

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$

875

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Assets acquired under finance leases

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$

—

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$

9,471

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The Company’s finance lease obligations relate to a manufacturing facility. As of March 31, 2023, finance lease assets of $8,681 are included in property, plant and equipment, net, finance lease obligations of $386 are included in accrued liabilities, and $8,918 are included in long-term debt on the condensed consolidated balance sheet.

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The following table presents the maturity of the Company’s operating and finance lease liabilities as of March 31, 2023:

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Operating Leases

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Finance Leases

Remainder of 2023

    

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4,048

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​

599

2024

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5,008

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815

2025

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4,105

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831

2026

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3,561

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​

848

2027

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3,022

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​

867

Thereafter

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6,830

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8,771

Total undiscounted cash flows

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$

26,574

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$

12,731

Less: present value discount

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(2,863)

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(3,427)

Total lease liabilities

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$

23,711

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$

9,304

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The Company has operating leases certain facilities from companies for which a member of management is a part owner. In connection with such leases, the Company made fixed minimum lease payments to the lessor of $385 during the three months ended March 31, 2023 and is obligated to make payments of $1,161 during the remainder of 2023. Future fixed minimum lease payments under these leases as of March 31, 2023 are $14,489.