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

Quarterly report pursuant to Section 13 or 15(d)

Furniture, Equipment and Leasehold Improvements, Net

Furniture, Equipment and Leasehold Improvements, Net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Furniture, Equipment and Leasehold Improvements, Net

6. FURNITURE, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

The following is a summary of furniture, equipment and leasehold improvements, net as of September 30, 2023 and December 31, 2022:


	September 30, 2023			December 31, 2022
Leasehold improvements	$	9,439		$	7,859
Furniture and equipment		10,878			9,213
Artwork		615			505
Total cost		20,932			17,577
Accumulated depreciation and amortization		(13,661	)		(12,556	)
Furniture, equipment and leasehold improvements, net	$	7,271		$	5,021

Depreciation expense for the three months ended September 30, 2023 and 2022 was $373 and $306, respectively. Depreciation expense for the nine months ended September 30, 2023 and 2022 was $1,104 and $886, respectively.

During the three and nine months ended September 30, 2023, the Company did not write off any leased assets. During the three and nine months ended September 30, 2022, the Company wrote off leased assets of $170 and $194, respectively, with accumulated depreciation of $119 and $143, respectively.