Silvercrest Asset Management Group LLC Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2019

The components of lease expense for the three and six months ended June 30, 2019 were as follows:

	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating Lease Cost	$	1,469	$	2,936
Finance Lease Cost:
Amortization of ROU assets		17		48
Interest on lease liabilities		1		3
Total	$	18	$	51

The following table summarizes the maturities of lease liabilities at June 30, 2019:

	Operating Leases		Non-cancellable Subleases			Operating Lease Liabilities
Remainder of 2019	$	2,975	$	(17	)	$	2,958
2020		5,754		(34	)		5,720
2021		5,746		(35	)		5,711
2022		5,726		(35	)		5,691
2023		5,331		(6	)		5,325
Thereafter		24,656		—			24,656
Total	$	50,188	$	(127	)		50,061
Less imputed interest							(8,293	)
Total remaining liabilities						$	41,768
Weighted-average remaining lease term – operating leases (months)							108.3
Weighted-average discount rate							4.3	%

The assets relating to finance leases that are included in equipment as of June 30, 2019 and December 31, 2018 are as follows:

	June 30, 2019			December 31, 2018
Finance lease assets included in furniture and equipment	$	588		$	605
Finance lease assets included in software		—			58
Less: Accumulated depreciation and amortization		(431	)		(462	)
	$	157		$	201

Future minimum lease payments under finance leases are as follows:

	Future Minimum Lease Commitments
Remainder of 2019	$	45
2020		75
2021		37
2022		3
2023		—
Total	$	160
Weighted-average remaining lease term – finance leases (months)		23.9
Weighted-average discount rate		3.9	%