Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.24.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2023 and 2022 is as follows:

 

 

Year ended December 31,

 

 

Year Ended December 31,

 

 

2023

 

 

2022

 

Operating Lease Cost

 

$

6,076

 

 

$

6,108

 

Financing Lease Cost:

 

 

 

 

 

 

Amortization of ROU assets

 

 

121

 

 

 

116

 

Interest on lease liabilities

 

 

11

 

 

 

9

 

Total

 

 

132

 

 

 

125

 

 

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 2034 are as follows:

 

 

Minimum Lease
Commitments

 

 

Non-cancellable
Subleases

 

 

Minimum Net
Rentals

 

 2024

 

$

6,588

 

 

$

(30

)

 

$

6,558

 

 2025

 

 

6,571

 

 

 

(120

)

 

 

6,451

 

 2026

 

 

6,562

 

 

 

(40

)

 

 

6,522

 

 2027

 

 

6,523

 

 

 

 

 

 

6,523

 

 2028

 

 

4,913

 

 

 

 

 

 

4,913

 

Thereafter

 

 

1,692

 

 

 

 

 

 

1,692

 

 

 

32,849

 

 

 

(190

)

 

 

32,659

 

Weighted-average remaining lease term – operating leases (months)

 

 

 

 

 

 

 

 

61.6

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

4.5

%

Assets Relating to Finance Leases Included in Equipment

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

 

 

December 31,
2023

 

 

December 31,
2022

 

Finance lease assets included in furniture and equipment

 

$

509

 

 

$

503

 

Less: Accumulated depreciation and amortization

 

 

(179

)

 

 

(161

)

 

$

330

 

 

$

342

 

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

Future Minimum Lease
Commitments

 

 2024

 

 

120

 

 2025

 

 

113

 

 2026

 

 

72

 

 2027

 

 

31

 

 2028

 

 

 

Thereafter

 

 

 

Total

 

$

336

 

Weighted-average remaining lease term – finance leases
   (months)

 

 

35.9

 

Weighted-average discount rate

 

 

4.6

%