Tailwind Two Acquisition Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

Leases (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Condensed Consolidated Balance Sheets Related to Operating and Finance Leases

The following table presents the amounts reported in the Company’s condensed consolidated balance sheets related to operating and finance leases as of the dates presented:


(in thousands)	Classification	March 31, 2023		December 31, 2022
Right-of-use assets:
Operating	Other assets	$	12,481	$	12,736
Finance	Property, plant, and equipment, net		992		420
Total right-of-use assets		$	13,473	$	13,156

Lease liabilities
Operating	Accrued expenses and other current liabilities	$	997	$	971
Finance	Current portion of long-term debt		288		90
Operating	Other liabilities		19,063		19,426
Finance	Long-term debt		604		321
Total lease liabilities		$	20,952	$	20,808

Schedule of Lease Cost

The following is a summary of the Company’s lease cost for the periods presented:


	Three Months Ended March 31,
Lease cost (in thousands)	2023		2022
Operating lease cost	$	1,767	$	1,263
Finance lease cost
Amortization of right-of-use assets		31		4
Interest on lease liabilities		8		2
Variable lease costs		267		140
Total lease cost	$	2,073	$	1,409

Schedule of Cash Flows and Supplemental Information

The following is a summary of the cash flows and supplemental information associated with the Company’s leases for the periods presented:


	Three Months Ended March 31,
Other information (in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,849	$	486
Operating cash flows from finance leases		8		2
Financing cash flows from finance leases		22		3
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		17		7,384
Finance leases		503		-