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

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2023

The components of lease expense for the three and six months ended June 30, 2023 and 2022 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Operating Lease Cost	$	1,514	$	1,531	$	3,033	$	3,062
Financing Lease Cost:
Amortization of ROU assets		30		30		59		60
Interest on lease liabilities		2		2		5		4
Total		32		32		64		64

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	$	3,171	$	(60	)	$	3,111
2024		6,557		(120	)		6,437
2025		6,571		(40	)		6,531
2026		6,562		—			6,562
2027		6,523		—			6,523
Thereafter		6,604		—			6,604
Total	$	35,988	$	(220	)	$	35,768
Weighted-average remaining lease term – operating leases (months)							67.1
Weighted-average discount rate							4.5	%

The assets relating to finance leases that are included in equipment as of June 30, 2023 and December 31, 2022 are as follows:


	June 30, 2023			December 31, 2022
Finance lease assets included in furniture and equipment	$	503		$	503
Less: Accumulated depreciation and amortization		(220	)		(161	)
	$	283		$	342

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
Remainder of 2023	$	50
2024		85
2025		75
2026		45
2027		31
Thereafter		—
Total	$	286
Weighted-average remaining lease term – finance leases (months)		40.9
Weighted-average discount rate		3.0	%