Annual report [Section 13 and 15(d), not S-K Item 405]

Commitments and Contingencies (Tables)

v3.25.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2024 and 2023 is as follows:

 

 

Year ended December 31,

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

Operating Lease Cost

 

$

6,122

 

 

$

6,076

 

Financing Lease Cost:

 

 

 

 

 

 

Amortization of ROU assets

 

 

122

 

 

 

121

 

Interest on lease liabilities

 

 

13

 

 

 

11

 

Total

 

 

135

 

 

 

132

 

 

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

 

 2025

 

$

6,619

 

 

$

(40

)

 

$

6,579

 

 2026

 

 

6,748

 

 

 

 

 

 

6,748

 

 2027

 

 

6,715

 

 

 

 

 

 

6,715

 

 2028

 

 

5,112

 

 

 

 

 

 

5,112

 

 2029

 

 

498

 

 

 

 

 

 

498

 

Thereafter

 

 

1,594

 

 

 

 

 

 

1,594

 

 

 

27,286

 

 

 

(40

)

 

 

27,246

 

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

 

 

 

 

 

 

 

 

49.4

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

4.6

%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of December 31, 2024 and 2023 are as follows:

 

 

December 31,
2024

 

 

December 31,
2023

 

Finance lease assets included in furniture and equipment

 

$

555

 

 

$

509

 

Less: Accumulated depreciation and amortization

 

 

(301

)

 

 

(179

)

 

$

254

 

 

$

330

 

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

Future Minimum Lease
Commitments

 

 2025

 

$

126

 

 2026

 

 

87

 

 2027

 

 

47

 

 2028

 

 

 

 2029

 

 

 

Thereafter

 

 

 

Total

 

$

260

 

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

 

 

27.7

 

Weighted-average discount rate

 

 

5.2

%