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

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2023

The components of lease expense for the three months ended March 31, 2023 and 2022 were as follows:


	Three Months Ended March 31,
	2023		2022
Operating Lease Cost	$	1,519	$	1,531
Financing Lease Cost:
Amortization of ROU assets		29		29
Interest on lease liabilities		3		2
Total		32		31

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 2023	$	4,649	$	(90	)	$	4,559
2024		6,431		(120	)		6,311
2025		6,366		(40	)		6,326
2026		6,295		—			6,295
2027		6,247		—			6,247
Thereafter		4,629		—			4,629
Total	$	34,617	$	(250	)	$	34,367
Weighted-average remaining lease term – operating leases (months)							61.2
Weighted-average discount rate							4.5	%

The assets relating to finance leases that are included in equipment as of March 31, 2023 and December 31, 2022 are as follows:


	March 31, 2023			December 31, 2022
Finance lease assets included in furniture and equipment	$	503		$	503
Less: Accumulated depreciation and amortization		(190	)		(161	)
	$	313		$	342

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
Remainder of 2023	$	80
2024		85
2025		75
2026		45
2027		31
Thereafter		—
Total	$	316
Weighted-average remaining lease term – finance leases (months)		42.7
Weighted-average discount rate		3.0	%