Tailwind Two Acquisition Corp. General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Leases (Tables)

Leases (Tables)

3 Months Ended

Mar. 31, 2022

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 presented dates:


(in thousands)	Classification	March 31, 2022		January 1, 2022
Right-of-Use Assets:
Operating	Other assets	$	14,119	$	6,550
Finance	Property, plant and equipment, net		44		48

Total right-of-use assets		$	14,163	$	6,598

Lease Liabilities
Operating	Accrued expenses and other current liabilities	$	834	$	166
Finance	Current portion of long-term debt		15		14
Operating	Other liabilities		15,640		7,962
Finance	Long-term debt		34		39

Total lease liabilities		$	16,523	$	8,181

Schedule of Lease Cost

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


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

Total lease cost	$	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 presented period:


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

Schedule of Weighted-average Lease Term and Discount Rate for Operating and Finance Leases

The following is a summary of the weighted-average lease term and discount rate for operating and finance leases as of the presented date:


Lease Term and Discount Rate	March 31, 2022
Weighted-average remaining lease term (years)
Operating leases		7.7
Finance leases		3.4
Weighted-average discount rate
Operating leases		29.69	%
Finance leases		14.96	%

Schedule of Maturity Analysis Related to Operating and Finance Leases

The following is a maturity analysis related to the Company’s operating and finance leases as of March 31, 2022:


Maturity of Lease Liabilities ( in thousands )	Operating Leases		Finance Leases
2022	$	3,053	$	16
2023		5,666		21
2024		5,771		11
2025		5,709		8
2026		5,705		7
Thereafter		21,522		—

Total lease payments		47,426		63
Less interest		30,952		14

Total lease liabilities	$	16,474	$	49

The following is a maturity analysis related to the Company’s operating and finance leases as of December 31, 202

which is presented in accordance with ASC 840,

Leases


(in thousands)	Operating Leases		Finance Leases
2022	$	3,484	$	21
2023		4,865		21
2024		4,970		11
2025		4,928		8
2026		4,896		7
Thereafter		5,167		—

Total lease payments		28,310		68
Less interest on finance leases		—		15

Total	$	28,310	$	53