Axogen, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

3 Months Ended

Mar. 31, 2022

Supplemental balance sheet information related to the operating and financing leases is as follows:


(In thousands, except lease term and discount rate )	March 31, 2022			December 31, 2021
Operating Leases
Right-of-use operating assets	$	15,406		$	15,193
Current maturities of long-term lease obligations	$	2,065		$	1,825
Long-term lease obligations	$	20,875		$	20,794
Financing Leases
Right-of-use financing leases (1)	$	36		$	42
Current maturities of long-term lease obligations	$	8		$	9
Long-term lease obligations	$	3		$	4

Weighted average operating lease term (in years):	11.2			12.1
Weighted average operating financing term (in years):	1.4			2.2

Weighted average discount rate operating lease	10.26		%	10.32%
Weighted average discount rate financing lease	7.09%			7.23%

(1) Financing leases are included within property and equipment, net on the condensed consolidated balance sheets.

Future minimum lease payments under operating and financing leases at March 31, 2022 were as follows:


(In thousands)
2022 (excluding the three months ended March 31, 2022)	$	3,213
2023	3,415
2024	3,186
2025	3,268
2026	3,276
Thereafter	24,056
Total	$	40,414
Less: Imputed interest	(17,463)
Total lease liability	$	22,951
Less: Current lease liability	$	(2,073)
Long-term lease liability	$	20,878

Future minimum lease payments under operating and financing leases at March 31, 2022 were as follows:


(In thousands)
2022 (excluding the three months ended March 31, 2022)	$	3,213
2023	3,415
2024	3,186
2025	3,268
2026	3,276
Thereafter	24,056
Total	$	40,414
Less: Imputed interest	(17,463)
Total lease liability	$	22,951
Less: Current lease liability	$	(2,073)
Long-term lease liability	$	20,878