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)

v3.21.1

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Summary of Components of Lease Expenses

The components of lease expense for the three months ended March 31, 2021 and 2020 were as follows:

	Three Months Ended March 31, 2021		Three Months Ended March 31, 2020
Operating Lease Cost	$	1,542	$	1,523
Finance Lease Cost:
Amortization of ROU assets		30		31
Interest on lease liabilities		3		2
Total	$	33	$	33

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 2021	$	4,877	$	(145	)	$	4,732
2022		6,377		(35	)		6,342
2023		5,928		(6	)		5,922
2024		6,008		—			6,008
2025		5,933		—			5,933
Thereafter		16,134		—			16,134
Total	$	45,257	$	(186	)	$	45,071
Weighted-average remaining lease term – operating leases (months)							86.8
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 March 31, 2021 and December 31, 2020 are as follows:

	March 31, 2021			December 31, 2020
Finance lease assets included in furniture and equipment	$	422		$	417
Less: Accumulated depreciation and amortization		(129	)		(163	)
	$	293		$	254

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 2021	$	87
2022		91
2023		59
2024		34
2025		24
Thereafter		2
Total	$	297
Weighted-average remaining lease term – finance leases (months)		38.7
Weighted-average discount rate		3.9	%

- 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=121609121&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=121609121&loc=SL77918686-209980

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- Definition

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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