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

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Document and Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Commitments and Contingencies (Tables)

v3.20.2

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2020

Commitments And Contingencies Disclosure [Abstract]

Summary of Components of Lease Expenses

The components of lease expense for the three and six months ended June 30, 2020 and 2019 were as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Operating Lease Cost	$	1,532	$	1,469	$	3,055	$	2,936
Financing Lease Cost:
Amortization of ROU assets		31		17		62		48
Interest on lease liabilities		2		1		4		3
Total		33		18		66		51

Summary of Future Minimum Lease Payments and Rentals under Lease Agreements For Office Space

Future minimum lease payments and rentals under lease agreements for office space are as follows:

	Operating Leases		Non-cancellable Subleases			Operating Lease Liabilities
Remainder of 2020	$	3,237	$	(77	)	$	3,160
2021		6,370		(35	)		6,335
2022		6,244		(35	)		6,209
2023		5,928		(6	)		5,922
2024		6,008		—			6,008
Thereafter		22,067		—			22,067
Total	$	49,854	$	(153	)	$	49,701
Weighted-average remaining lease term – operating leases (months)							94.5
Weighted-average discount rate							4.3	%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of June 30, 2020 and December 31, 2019 are as follows:

	June 30, 2020			December 31, 2019
Finance lease assets included in furniture and equipment	$	679		$	679
Finance lease assets included in software		—			—
Less: Accumulated depreciation and amortization		(446	)		(481	)
	$	233		$	198

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

	Future Minimum Lease Commitments
Remainder of 2020	$	56
2021		99
2022		53
2023		25
2024		16
Thereafter		5
Total	$	254
Weighted-average remaining lease term – finance leases (months)		36.0
Weighted-average discount rate		4.2	%

- Definition

Schedule of finance lease right of use asset.

+ References

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- Definition

Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
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