Redwire Corporation Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

12 Months Ended

Dec. 31, 2023

The following table summarizes total lease costs for the period:



	Year Ended
		December 31, 2023		December 31, 2022
Finance lease cost:
Amortization of ROU assets		$	434	$	54
Interest on lease liabilities		98		6
Operating lease costs		4,251		3,339
Variable lease costs		29		—
Short-term lease costs		230		251
Total lease costs		$	5,042	$	3,650

The following table presents other supplemental information related to the Company’s leases:


	Year Ended
	December 31, 2023						December 31, 2022
	Operating Leases			Finance Leases			Operating Leases			Finance Leases
Cash paid for lease liabilities	$	4,273		$	492		$	3,076		$	61
Right-of-use assets obtained in exchange for new lease liabilities	3,418			1,167			8,615			944

Weighted average remaining lease term (in years)	4.4			3.8			4.8			3.1
Weighted average discount rate	6.3		%	8.4		%	5.6		%	9.3		%

The following table presents supplemental balance sheet information related to the Company’s operating and finance leases:


	December 31, 2023				December 31, 2022
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Right-of-use assets, net reflected in the following balance sheet line items:
Property, plant and equipment, net	$	—	$	1,551	$	—	$	899
Right-of-use assets	13,181		—		13,103		—
Total right-of-use assets	$	13,181	$	1,551	$	13,103	$	899

Current lease balance reflected in the following balance sheet line items:
Short-term operating lease liabilities	$	3,737	$	—	$	3,214	$	—
Short-term finance lease liabilities	—		439		—		299

Non-current lease balance reflected in the following balance sheet line items:
Long-term operating lease liabilities	12,302		—		12,670		—
Long-term finance lease liabilities	—		1,137		—		579
Total lease liabilities	$	16,039	$	1,576	$	15,884	$	878

As of December 31, 2023, the future annual minimum lease payments for lease liabilities are as follows:


Year	Operating Leases		Finance Leases
2024	$	4,582	$	564
2025	4,098		479
2026	3,509		363
2027	3,371		289
2028	1,852		136
Thereafter	1,572		—
Total lease payments	18,984		1,831
Less: imputed interest	2,945		255
Present value of lease liabilities	$	16,039	$	1,576