Annual report pursuant to Section 13 and 15(d)

Leases

v3.22.4
Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases NOTE 17. LEASES

The Company has entered into leases for certain facilities, vehicles and other equipment. Our leases have remaining contractual terms of up to eight years, some of which include options to extend the leases for up to five years. Our lease costs are primarily related to facility leases for inventory warehousing, administration offices and vehicles. The Company’s finance leases are immaterial.

Lease ROU assets and liabilities as of December 31, 2022 and 2021, were as follows:

Balance Sheet Classification

December 31, 2022

December 31, 2021

Assets

Lease ROU assets

Other long-term assets

$

15,189

$

17,637

Liabilities

Current lease liabilities

Accrued liabilities

$

2,836

$

2,824

Noncurrent lease liabilities

Other long-term liabilities

$

12,825

$

15,111

Lease costs were as follows:

Affected line item in the Consolidated

Year Ended

Statements of Comprehensive (Loss) Income

December 31, 2022

December 31, 2021

Lease costs

Cost of goods sold, Selling, general and administrative

$

2,532

$

2,611

Variable lease costs

Cost of goods sold, Selling, general and administrative

527

642

Short-term lease costs

Cost of goods sold, Selling, general and administrative

1,249

183

$

4,308

$

3,436

The maturity of lease liabilities as of December 31, 2022 are as follows:

Years Ending December 31,

Lease Payments

2023

$

3,222

2024

3,164

2025

3,234

2026

2,442

2027

1,494

Thereafter

3,604

Total future lease payments

17,160

Less: amount representing interest

(1,499)

Present value of future lease payments

15,661

Less: current lease obligations

(2,836)

Long-term lease obligations

$

12,825

As of December 31, 2022, our leases have a weighted-average remaining lease term of 5.8 years and a weighted-average discount rate of 2.8%.