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, |
| Leases |
Consolidated Balance Sheets Classification |
2021 |
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2020 |
| Right of use asset |
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| Operating |
Other Non-Current Assets |
$ |
10,166 |
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$ |
11,884 |
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| Finance |
Property, plant and equipment, net |
57,883 |
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|
20,018 |
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| Total Leased Assets |
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$ |
68,049 |
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$ |
31,902 |
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| Liabilities |
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| Current |
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| Operating |
Accrued and other liabilities |
$ |
2,147 |
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$ |
1,947 |
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| Finance |
Accrued and other liabilities |
132 |
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3 |
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| Non-Current |
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| Operating |
Other non-current liabilities |
9,563 |
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|
11,709 |
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| Finance |
Other non-current liabilities |
50,103 |
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|
13,506 |
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| Total leased liabilities |
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$ |
61,945 |
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$ |
27,165 |
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Lease costs recognized in our Consolidated Statements of Operations is summarized as follows (in thousands):
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December 31, |
| Lease term and discount rate |
2021 |
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2020 |
| Weighted average remaining lease term (years) |
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| Operating lease |
4.7 |
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5.7 |
| Finance lease |
49.4 |
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50.2 |
| Weighted average discount rate |
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| Operating lease |
8.0 |
% |
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8.0 |
% |
| Finance lease |
9.4 |
% |
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13.5 |
% |
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| Schedule of Lease, Cost |
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Year Ended December 31, |
| Lease Costs |
2021 |
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2020 |
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2019 |
| Operating lease cost |
$ |
2,519 |
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$ |
2,741 |
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$ |
3,616 |
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| Finance lease cost |
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| Amortization of lease assets |
788 |
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|
367 |
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44 |
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| Interest on lease liabilities |
2,904 |
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|
1,694 |
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|
197 |
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| Finance lease cost |
$ |
3,692 |
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$ |
2,061 |
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$ |
241 |
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| Total lease cost |
$ |
6,211 |
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$ |
4,802 |
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$ |
3,857 |
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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 |
$ |
2,953 |
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$ |
2,847 |
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$ |
3,173 |
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| Operating cash flows from finance leases |
$ |
1,813 |
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$ |
1,056 |
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$ |
— |
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| Financing cash flows from finance leases |
$ |
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 |
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| 2023 |
3,044 |
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|
4,111 |
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| 2024 |
3,081 |
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4,111 |
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| 2025 |
3,119 |
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4,111 |
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| 2026 |
1,261 |
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|
4,111 |
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| After 2026 |
600 |
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|
182,222 |
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| Total lease payments |
$ |
14,111 |
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$ |
202,777 |
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| Less: discount |
2,401 |
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|
152,542 |
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| Present value of lease liability |
$ |
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 |
$ |
3,006 |
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$ |
4,111 |
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| 2023 |
3,044 |
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|
4,111 |
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| 2024 |
3,081 |
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|
4,111 |
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| 2025 |
3,119 |
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|
4,111 |
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| 2026 |
1,261 |
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4,111 |
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| After 2026 |
600 |
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182,222 |
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| Total lease payments |
$ |
14,111 |
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$ |
202,777 |
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| Less: discount |
2,401 |
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|
152,542 |
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| Present value of lease liability |
$ |
11,710 |
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$ |
50,235 |
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