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, 2024

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, 2024		December 31, 2023
Right-of-use assets:
Operating	Other assets	$	11,713	$	12,098
Finance	Property, plant, and equipment, net		8,425		5,873
Total right-of-use assets		$	20,138	$	17,971

Lease liabilities
Operating	Accrued expenses and other current liabilities	$	1,674	$	1,505
Finance	Current portion of long-term debt		3,017		1,929
Operating	Other liabilities		17,449		17,964
Finance	Long-term debt		3,856		3,059
Total lease liabilities		$	25,996	$	24,457

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)	2024		2023
Operating lease cost	$	1,806	$	1,767
Finance lease cost
Amortization of right-of-use assets		632		31
Interest on lease liabilities		133		8
Variable lease costs		407		267
Total lease cost	$	2,978	$	2,073

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)	2024		2023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	1,766	$	1,849
Operating cash flows from finance leases		133		8
Financing cash flows from finance leases		490		22
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases		-		17
Finance leases		2,230		503