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)

6 Months Ended

Jun. 30, 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	June 30, 2023		December 31, 2022
Right-of-use assets:
Operating	Other assets	$	12,473	$	12,736
Finance	Property, plant, and equipment, net		6,338		420
Total right-of-use assets		$	18,811	$	13,156

Lease liabilities
Operating	Accrued expenses and other current liabilities	$	1,090	$	971
Finance	Current portion of long-term debt		1,646		90
Operating	Other liabilities		18,698		19,426
Finance	Long-term debt		3,639		321
Total lease liabilities		$	25,073	$	20,808

Schedule of Lease Cost

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


	Three Months Ended June 30,				Six Months Ended June 30,
Lease cost (in thousands)	2023		2022		2023		2022
Operating lease cost	$	1,782	$	1,847	$	3,549	$	3,110
Finance lease cost
Amortization of right-of-use assets		235		3		266		7
Interest on lease liabilities		58		2		66		4
Variable lease costs		171		334		438		474
Total lease cost	$	2,246	$	2,186	$	4,319	$	3,595

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:


	Six Months Ended June 30,
Other information (in thousands)	2023		2022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,897	$	1,399
Operating cash flows from finance leases		66		4
Financing cash flows from finance leases		197		7
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		159		10,541
Finance leases		5,071		-