Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

v3.23.3
LEASES (Tables)
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Schedule of Lease Cost
Lease cost for the three and nine months ended September 30, 2023 and 2022 are as follow (in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2023 2022 2023 2022
Operating lease cost(1)
$ 1,082  $ 1,381  $ 3,353  $ 4,023 
Finance lease cost:
Amortization of right-of-use assets 217  —  335  — 
Interest on lease liabilities 106  —  181  — 
Total lease cost $ 1,405  $ 1,381  $ 3,869  $ 4,023 
Reported in:
Cost of goods sold $ 1,268  $ 1,246  $ 3,532  $ 3,679 
Selling, general and administrative 137  135  337  344 
Total lease cost $ 1,405  $ 1,381  $ 3,869  $ 4,023 
(1) Operating lease cost does not include short-term leases or variable costs, all of which are immaterial.
Supplemental cash flow information related to leases for the nine months ended September 30, 2023 and 2022 are as follows (in thousands):
Nine Months Ended September 30,
2023 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases $ 3,206  $ 3,797 
Operating cash flows for finance leases 172  — 
Financing cash flows for finance leases 251  — 
Right-of-use assets obtained in exchange for new lease obligations:
Operating leases $ 4,492  $ 4,326 
Finance leases 5,677  — 
Net change in operating lease right-of-use assets due to lease modifications resulting in reclassification of leases from operating to finance $ (1,514) — 
Schedule of Future Minimum Payment Obligations for Non-Cancelable Operating Leases
As of September 30, 2023, the estimated future minimum payment obligations for non-cancelable operating leases and finance leases are as follows (in thousands):
Operating Leases Finance Leases
Remainder of 2023 $ 976  $ 244 
2024 3,173  962 
2025 3,105  879 
2026 2,753  731 
2027 2,577  694 
Thereafter 10,880  4,693 
Total Lease payments 23,464  8,203 
Less: imputed interest 5,844  2,623 
Present value of lease liabilities $ 17,620  $ 5,580 
Schedule of Future Minimum Payment Obligations for Non-Cancelable Finance Leases
As of September 30, 2023, the estimated future minimum payment obligations for non-cancelable operating leases and finance leases are as follows (in thousands):
Operating Leases Finance Leases
Remainder of 2023 $ 976  $ 244 
2024 3,173  962 
2025 3,105  879 
2026 2,753  731 
2027 2,577  694 
Thereafter 10,880  4,693 
Total Lease payments 23,464  8,203 
Less: imputed interest 5,844  2,623 
Present value of lease liabilities $ 17,620  $ 5,580