Commitments and Contingencies (Tables)
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9 Months Ended |
Sep. 30, 2022 |
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| Commitments and Contingencies Disclosure [Abstract] |
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| Schedule of Lease, Cost |
The table below summarizes the components of lease expense and income statement location for the three and nine months ended September 30, 2022 and 2021:
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Line Item in the
Company’s Condensed Consolidated
Income Statements |
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Three Months Ended
September 30, 2022 |
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Three Months Ended
September 30, 2021 |
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Nine Months Ended
September 30, 2022 |
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Nine Months Ended
September 30, 2021 |
| Finance lease costs: |
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| Amortization of assets |
Depreciation and amortization |
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$ |
7,570 |
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$ |
21,797 |
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$ |
48,001 |
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$ |
63,506 |
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| Interest on lease liabilities |
Other expense, net |
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1,015 |
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2,132 |
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3,564 |
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7,225 |
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| Total finance lease costs |
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8,585 |
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23,929 |
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51,565 |
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70,731 |
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| Operating lease costs |
General and administrative expenses |
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1,426,010 |
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$ |
1,201,547 |
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4,138,801 |
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$ |
3,221,145 |
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| Total lease costs |
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$ |
1,434,595 |
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$ |
1,225,476 |
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$ |
4,190,366 |
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$ |
3,291,876 |
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| Schedule of Assets And Liabilities, Lessee |
Supplemental information and balance sheet location related to leases (excluding amounts related to leases classified as held for sale) is as follows:
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September 30, 2022 |
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December 31, 2021 |
| Operating Leases: |
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| Operating lease right-of -use asset |
$19,046,081 |
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$18,425,914 |
| Operating lease liability - current portion |
$4,969,470 |
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$4,613,843 |
| Operating lease liability - net of current portion |
17,427,096 |
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16,872,093 |
| Total operating lease liability |
$22,396,566 |
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$21,485,936 |
| Finance Leases: |
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| Property and equipment, at cost |
$151,396 |
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$267,252 |
| Less accumulated amortization |
(80,083) |
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(147,937) |
| Property and equipment, net |
$71,313 |
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$119,315 |
| Finance lease liability - current portion |
24,175 |
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49,855 |
| Finance lease liability - net of current portion |
69,713 |
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87,939 |
| Total finance lease liabilities |
$93,888 |
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$137,794 |
| Weighted average remaining lease term (in years): |
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| Operating leases |
5.4 |
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5.4 |
| Finance lease |
3.6 |
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3.6 |
| Weighted average discount rate: |
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| Operating leases |
4.5 |
% |
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4.6 |
% |
| Finance leases |
4.3 |
% |
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4.8 |
% |
Supplemental cash flow information related to leases is as follows:
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Nine Months Ended
September 30, 2022 |
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Nine Months Ended
September 30, 2021 |
| Cash paid for amounts included in measurement of liabilities: |
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| Operating cash flows from operating leases |
$ |
4,309,229 |
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$ |
3,069,797 |
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| Operating cash flows from finance leases |
3,564 |
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7,225 |
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| Financing cash flows from finance leases |
43,907 |
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59,285 |
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| Non-cash transactions: ROU assets obtained in exchange for lease liabilities |
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| Operating lease |
$ |
4,402,229 |
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$ |
6,232,875 |
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| Finance lease |
— |
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15,140 |
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`
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| Schedule of Lessee, Operating Lease, Liability, Maturity |
Maturities of lease liabilities as of September 30, 2022 were as follows:
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Operating Leases |
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Finance Lease |
| 2022 (remainder) |
$ |
1,520,692 |
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$ |
6,900 |
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| 2023 |
5,661,042 |
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27,600 |
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| 2024 |
5,051,926 |
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27,600 |
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| 2025 |
4,589,077 |
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27,600 |
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| 2026 |
2,768,973 |
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11,500 |
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| Thereafter |
5,537,408 |
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— |
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| Total lease payments |
$ |
25,129,118 |
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$ |
101,200 |
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| Less: Imputed interest |
(2,732,552) |
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(7,312) |
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| Total lease obligations |
22,396,566 |
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93,888 |
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| Less: Current obligations |
(4,969,470) |
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(24,175) |
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| Long-term lease obligation |
$ |
17,427,096 |
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$ |
69,713 |
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| Schedule of Finance Lease, Liability, Maturity |
Maturities of lease liabilities as of September 30, 2022 were as follows:
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Operating Leases |
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Finance Lease |
| 2022 (remainder) |
$ |
1,520,692 |
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$ |
6,900 |
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| 2023 |
5,661,042 |
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27,600 |
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| 2024 |
5,051,926 |
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27,600 |
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| 2025 |
4,589,077 |
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27,600 |
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| 2026 |
2,768,973 |
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11,500 |
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| Thereafter |
5,537,408 |
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— |
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| Total lease payments |
$ |
25,129,118 |
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$ |
101,200 |
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| Less: Imputed interest |
(2,732,552) |
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(7,312) |
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| Total lease obligations |
22,396,566 |
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93,888 |
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| Less: Current obligations |
(4,969,470) |
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(24,175) |
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| Long-term lease obligation |
$ |
17,427,096 |
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$ |
69,713 |
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