Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.22.0.1
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2021 and 2020 is as follows:

 

 

Year ended December 31,

 

 

Year Ended December 31,

 

 

 

2021

 

 

2020

 

Operating Lease Cost

 

$

6,133

 

 

$

6,123

 

Financing Lease Cost:

 

 

 

 

 

 

 

 

     Amortization of ROU assets

 

 

119

 

 

 

118

 

     Interest on lease liabilities

 

 

11

 

 

 

10

 

     Total

 

 

130

 

 

 

128

 

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 2028 are as follows:

 

 

 

Minimum Lease

Commitments

 

 

Non-cancellable

Subleases

 

 

Minimum Net

Rentals

 

2022

 

$

6,434

 

 

$

(155

)

 

$

6,279

 

2023

 

 

6,068

 

 

 

(6

)

 

 

6,062

 

2024

 

 

6,150

 

 

 

 

 

 

6,150

 

2025

 

 

6,078

 

 

 

 

 

 

6,078

 

2026

 

 

5,999

 

 

 

 

 

 

5,999

 

Thereafter

 

 

10,368

 

 

 

 

 

 

10,368

 

 

 

 

41,097

 

 

 

(161

)

 

 

40,936

 

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

 

 

 

 

 

 

 

 

 

 

77.2

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

 

 

4.2

%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of December 31, 2021 and 2020 are as follows:

 

 

 

December 31,

2021

 

 

December 31,

2020

 

Finance lease assets included in furniture and equipment

 

$

434

 

 

$

417

 

Less: Accumulated depreciation and amortization

 

 

(187

)

 

 

(163

)

 

 

$

247

 

 

$

254

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

 

Future Minimum Lease
Commitments

 

2022

 

 

108

 

2023

 

 

76

 

2024

 

 

43

 

2025

 

 

24

 

2026

 

 

2

 

Thereafter

 

 

 

Total

 

$

253

 

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

 

 

33.1

 

Weighted-average discount rate

 

 

3.4

%