Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.22.4
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Summary of Components of Lease Expenses

The components of lease expense for the years ended December 31, 2022 and 2021 is as follows:

 

 

 

Year ended December 31,

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Operating Lease Cost

 

$

6,108

 

 

$

6,133

 

Financing Lease Cost:

 

 

 

 

 

 

Amortization of ROU assets

 

 

116

 

 

 

119

 

Interest on lease liabilities

 

 

9

 

 

 

11

 

Total

 

 

125

 

 

 

130

 

 

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

 

2023

 

$

6,171

 

 

$

(36

)

 

$

6,135

 

2024

 

 

6,150

 

 

 

 

 

 

6,150

 

2025

 

 

6,209

 

 

 

 

 

 

6,209

 

2026

 

 

6,266

 

 

 

 

 

 

6,266

 

2027

 

 

6,219

 

 

 

 

 

 

6,219

 

Thereafter

 

 

6,423

 

 

 

 

 

 

6,423

 

 

 

 

37,438

 

 

 

(36

)

 

 

37,402

 

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

 

 

 

 

 

 

 

 

71.7

 

Weighted-average discount rate

 

 

 

 

 

 

 

 

4.4

%

Assets Relating to Finance Leases Included in Equipment

The assets relating to finance leases that are included in equipment as of December 31, 2022 and 2021 are as follows:

 

 

 

December 31,
2022

 

 

December 31,
2021

 

Finance lease assets included in furniture and equipment

 

$

503

 

 

$

434

 

Less: Accumulated depreciation and amortization

 

 

(161

)

 

 

(187

)

 

 

$

342

 

 

$

247

 

 

Summary of Future Minimum Lease Payments under Finance Leases

Future minimum lease payments under finance leases are as follows:

 

 

 

Future Minimum Lease
Commitments

 

2023

 

 

109

 

2024

 

 

85

 

2025

 

 

75

 

2026

 

 

45

 

2027

 

 

31

 

Thereafter

 

 

 

Total

 

$

345

 

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

 

 

44.7

 

Weighted-average discount rate

 

 

3.0

%