Silvercrest Asset Management Group LLC Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 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)

v3.22.0.1

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2021

Commitments and Contingencies Disclosure [Abstract]

Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2021 and 2020 is as follows:


	Year ended December 31,		Year Ended December 31,
	2021		2020
Operating Lease Cost	$	6,133	$	6,123
Financing Lease Cost:
Amortization of ROU assets		119		118
Interest on lease liabilities		11		10
Total		130		128

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 which expire through 2028 are as follows:


	Minimum Lease Commitments		Non-cancellable Subleases			Minimum Net Rentals
2022	$	6,434	$	(155	)	$	6,279
2023		6,068		(6	)		6,062
2024		6,150		—			6,150
2025		6,078		—			6,078
2026		5,999		—			5,999
Thereafter		10,368		—			10,368
		41,097		(161	)		40,936
Weighted-average remaining lease term – operating leases (months)							77.2
Weighted-average discount rate							4.2	%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of December 31, 2021 and 2020 are as follows:


	December 31, 2021			December 31, 2020
Finance lease assets included in furniture and equipment	$	434		$	417
Less: Accumulated depreciation and amortization		(187	)		(163	)
	$	247		$	254

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
2022		108
2023		76
2024		43
2025		24
2026		2
Thereafter		—
Total	$	253
Weighted-average remaining lease term – finance leases (months)		33.1
Weighted-average discount rate		3.4	%

- 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=123408670&loc=SL77918701-209980

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- Definition

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=123408670&loc=SL77918686-209980

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