Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.21.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Reconciliation of Maturity Analysis of Annual Undiscounted Cash Flows

The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating and financing lease liabilities as of September 30, 2021 (in thousands):

 

 

 

Operating

 

 

Financing

 

Three months ending December 31, 2021

 

$

970

 

 

$

78

 

Year ending December 31, 2022

 

 

3,935

 

 

 

313

 

Year ending December 31, 2023

 

 

4,049

 

 

 

66

 

Year ending December 31, 2024

 

 

4,166

 

 

 

 

Year ending December 31, 2025 and beyond

 

 

23,543

 

 

 

 

Total minimum lease payments

 

 

36,663

 

 

 

457

 

Less imputed interest

 

 

(11,693

)

 

 

(32

)

Total lease liability

 

$

24,970

 

 

$

425

 

Schedule of Total Lease Cost for Operating and Financing Leases as well as Weighted Average Information for Leases

The following table outlines the total lease cost for the Company’s operating and financing leases as well as weighted average information for these leases as of September 30, 2021 (in thousands):

 

 

 

Three Months Ended September 30, 2021

 

 

Nine Months Ended September 30, 2021

 

Lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

772

 

 

$

2,316

 

Financing lease cost:

 

 

 

 

 

 

 

 

Amortization of right-of-use asset

 

$

67

 

 

$

195

 

Interest on lease liabilities

 

 

11

 

 

 

38

 

Total financing lease cost

 

$

78

 

 

$

233

 

Cash paid for amounts included in the measurement of liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating lease

 

$

951

 

 

$

2,853

 

Operating cash flows from financing lease

 

$

78

 

 

$

234

 

 

 

 

 

 

 

 

 

 

Other information:

 

 

 

 

 

Nine Months Ended September 30, 2021

 

Weighted-average remaining lease term (in years) - operating lease

 

 

 

 

 

 

8.42

 

Weighted-average discount rate - operating lease

 

 

 

 

 

 

9.30

%

Weighted-average remaining lease term (in years) - financing lease

 

 

 

 

 

 

1.56

 

Weighted-average discount rate - financing lease

 

 

 

 

 

 

9.47

%