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

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

The components of lease expense for the three months ended March 31, 2020 and 2019 were as follows:

	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Operating Lease Cost	$	1,523	$	1,467
Finance Lease Cost:
Amortization of ROU assets		31		32
Interest on lease liabilities		2		2
Total	$	33	$	34

Future minimum lease payments and rentals under lease agreements for office space are as follows:

	Operating Leases		Non-cancellable Subleases			Operating Lease Liabilities
Remainder of 2020	$	4,824	$	(115	)	$	4,709
2021		6,370		(35	)		6,335
2022		6,244		(35	)		6,209
2023		5,928		(6	)		5,922
2024		6,008		—			6,008
Thereafter		22,067		—			22,067
Total	$	51,441	$	(191	)	$	51,250
Weighted-average remaining lease term – operating leases (months)							97.3
Weighted-average discount rate							4.3	%

The assets relating to finance leases that are included in equipment as of March 31, 2020 and December 31, 2019 are as follows:

	March 31, 2020			December 31, 2019
Finance lease assets included in furniture and equipment	$	679		$	679
Finance lease assets included in software		—			—
Less: Accumulated depreciation and amortization		(517	)		(481	)
	$	162		$	198

Future minimum lease payments under finance leases are as follows:

	Future Minimum Lease Commitments
Remainder of 2020	$	80
2021		65
2022		15
2023		—
Total	$	160
Weighted-average remaining lease term – finance leases (months)		21.0
Weighted-average discount rate		4.6	%