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

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2022

The components of lease expense for the three and six months ended June 30, 2022 and 2021 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Operating Lease Cost	$	1,531	$	1,530	$	3,062	$	3,073
Financing Lease Cost:
Amortization of ROU assets		30		30		60		60
Interest on lease liabilities		2		2		4		5
Total		32		32		64		65

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	$	3,228	$	(155	)	$	3,073
2023		6,099		(6	)		6,093
2024		6,150		—			6,150
2025		6,078		—			6,078
2026		5,999		—			5,999
Thereafter		10,368		—			10,368
Total	$	37,922	$	(161	)	$	37,761
Weighted-average remaining lease term – operating leases (months)							71.8
Weighted-average discount rate							4.2	%

The assets relating to finance leases that are included in equipment as of June 30, 2022 and December 31, 2021 are as follows:


	June 30, 2022			December 31, 2021
Finance lease assets included in furniture and equipment	$	440		$	434
Less: Accumulated depreciation and amortization		(223	)		(187	)
	$	217		$	247

Future minimum lease payments under finance leases are as follows:


	Future Minimum Lease Commitments
Remainder of 2022	$	53
2023		84
2024		50
2025		31
2026		4
Thereafter		—
Total	$	222
Weighted-average remaining lease term – finance leases (months)		31.6
Weighted-average discount rate		3.3	%