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

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

The components of lease expense for the three months ended March 31, 2022 and 2021 were as follows:


	Three Months Ended March 31,
	2022		2021
Operating Lease Cost	$	1,531	$	1,542
Financing Lease Cost:
Amortization of ROU assets		29		30
Interest on lease liabilities		2		3
Total		31		33

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 2022	$	4,805	$	(155	)	$	4,650
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
Total	$	39,468	$	(161	)	$	39,307
Weighted-average remaining lease term – operating leases (months)							74.5
Weighted-average discount rate							4.2	%

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


	March 31, 2022			December 31, 2021
Finance lease assets included in furniture and equipment	$	434		$	434
Less: Accumulated depreciation and amortization		(217	)		(187	)
	$	217		$	247

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
Remainder of 2022	$	78
2023		76
2024		43
2025		24
2026		2
Thereafter		—
Total	$	223
Weighted-average remaining lease term – finance leases (months)		31.2
Weighted-average discount rate		3.4	%