Annual report pursuant to Section 13 and 15(d)

Leases

v3.22.4
Leases
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Leases

10. LEASES

 

The Company is party to operating leases for all of our offices. Many leases contain options to renew and extend lease terms and options to terminate leases early. Reflected in the right-of-use asset and lease liability on the consolidated balance sheets are the periods provided by renewal and extension options that we are reasonably certain to exercise, as well as the periods provided by termination options that we are reasonably certain not to exercise. All long-term leases identified by the Company are classified as operating leases. Lease expenses related to long-term leases were $2,936 for the twelve months ended December 31, 2022. Short-term lease expense, variable lease expense and sublease income were not material for the twelve months ended December 31, 2022.

 

Maturities of the Company’s long-term operating lease liabilities, which are included in other liabilities on the consolidated balance sheet, were as follows:

 

 

 

December 31, 2022

 

2023

 

$

3,301

 

2024

 

 

3,117

 

2025

 

 

2,670

 

2026

 

 

1,268

 

2027

 

 

904

 

Thereafter

 

 

768

 

Total lease payments

 

 

12,028

 

Less: imputed interest

 

 

2,410

 

Lease liabilities

 

$

9,618

 

Weighted-average remaining lease term (years)

 

 

4.2

 

Weighted-average discount rate

 

 

11.8

%