LEASES (Tables)
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12 Months Ended |
Dec. 31, 2021 |
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| Leases [Abstract] |
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| Assets And Liabilities, Lessee |
The following table shows the classification and location of our right-of-use assets and lease liabilities on our Consolidated Balance Sheets (in thousands):
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December 31, |
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Consolidated Balance Sheets |
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2021 |
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2020 |
Leases |
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Classification |
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Right of use asset |
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Operating |
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Other Non-Current Assets |
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$ |
10,166 |
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$ |
11,884 |
Finance |
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Property, plant and equipment, net |
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|
57,883 |
|
|
20,018 |
Total Leased Assets |
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$ |
68,049 |
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$ |
31,902 |
Liabilities |
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Current |
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Operating |
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Accrued and other liabilities |
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$ |
2,147 |
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$ |
1,947 |
Finance |
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Accrued and other liabilities |
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|
132 |
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|
3 |
Non-Current |
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Operating |
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Other non-current liabilities |
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9,563 |
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|
11,709 |
Finance |
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Other non-current liabilities |
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|
50,103 |
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|
13,506 |
Total leased liabilities |
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|
$ |
61,945 |
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$ |
27,165 |
Other information about lease amounts recognized in our Consolidated Financial Statements is as follows:
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December 31, |
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2021 |
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2020 |
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Lease term and discount rate |
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Weighted average remaining lease term (years) |
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Operating lease |
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4.7 |
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5.7 |
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Finance lease |
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49.4 |
|
50.2 |
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Weighted average discount rate |
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Operating lease |
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8.0 |
% |
8.0 |
% |
Finance lease |
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9.4 |
% |
13.5 |
% |
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| Schedule of Lease, Cost |
Lease costs recognized in our Consolidated Statements of Operations is summarized as follows (in thousands):
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Year Ended December 31, |
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2021 |
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2020 |
|
2019 |
Lease Costs |
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Operating lease cost |
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$ |
2,519 |
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$ |
2,741 |
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$ |
3,616 |
Finance lease cost |
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|
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Amortization of lease assets |
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|
788 |
|
|
367 |
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|
44 |
Interest on lease liabilities |
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|
2,904 |
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|
1,694 |
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|
197 |
Finance lease cost |
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$ |
3,692 |
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$ |
2,061 |
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$ |
241 |
Total lease cost |
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$ |
6,211 |
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$ |
4,802 |
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$ |
3,857 |
The following table includes other quantitative information for our operating and finance leases (in thousands):
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Year Ended December 31, |
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2021 |
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2020 |
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2019 |
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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$ |
2,953 |
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$ |
2,847 |
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$ |
3,173 |
Operating cash flows from finance leases |
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$ |
1,813 |
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$ |
1,056 |
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$ |
— |
Financing cash flows from finance leases |
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$ |
1,926 |
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$ |
1,777 |
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$ |
2,224 |
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| Schedule of Finance Lease, Liability, Maturity |
The table below presents a maturity analysis of our lease liability on an undiscounted basis and reconciles those amounts to the present value of the lease liability as of December 31, 2021 (in thousands):
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Operating |
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Finance |
2022 |
|
$ |
3,006 |
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$ |
4,111 |
2023 |
|
|
3,044 |
|
|
4,111 |
2024 |
|
|
3,081 |
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|
4,111 |
2025 |
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|
3,119 |
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|
4,111 |
2026 |
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|
1,261 |
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|
4,111 |
After 2026 |
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|
600 |
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|
182,222 |
Total lease payments |
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$ |
14,111 |
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$ |
202,777 |
Less: discount |
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|
2,401 |
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|
152,542 |
Present value of lease liability |
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$ |
11,710 |
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$ |
50,235 |
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| Schedule of Operating Lease Maturity |
The table below presents a maturity analysis of our lease liability on an undiscounted basis and reconciles those amounts to the present value of the lease liability as of December 31, 2021 (in thousands):
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Operating |
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Finance |
2022 |
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$ |
3,006 |
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$ |
4,111 |
2023 |
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|
3,044 |
|
|
4,111 |
2024 |
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|
3,081 |
|
|
4,111 |
2025 |
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|
3,119 |
|
|
4,111 |
2026 |
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|
1,261 |
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|
4,111 |
After 2026 |
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|
600 |
|
|
182,222 |
Total lease payments |
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$ |
14,111 |
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$ |
202,777 |
Less: discount |
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|
2,401 |
|
|
152,542 |
Present value of lease liability |
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$ |
11,710 |
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$ |
50,235 |
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