Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.22.0.1
Leases (Tables)
12 Months Ended
Dec. 31, 2021
Leases [Abstract]  
Schedule of Lease Expense

The following summarizes quantitative information about the Company’s operating leases (dollars in thousands):

Years Ended December 31,

Lease cost

2021

2020

2019

Operating lease cost

$

678

$

1,240

$

2,378

Variable lease cost(1)

51

1,040

3,200

Operating lease expense

729

2,280

5,578

Short-term lease rent expense

19

20

17

Total rent expense

$

748

$

2,300

$

5,595

(1)

Amounts primarily include common area maintenance and utility charges not included in the measurement of right of use assets and operating lease liabilities.

Schedule of Other Information

Other information

Operating cash flows from operating leases

$

435

$

1,207

$

2,377

Right of use assets exchanged for new operating lease liabilities

$

13,622

$

-

$

2,664

Weighted-average remaining lease term – operating leases

8.6

-

0.5

Weighted-average discount rate – operating leases

5.8

%

-

10

%

Schedule of Future Minimum Operating Lease Payments

The following table represents our future minimum operating lease payments as of, and subsequent to, December 31, 2021 under ASC 842 (in thousands):

Ground lease

Office and other leases

Total

2022

$

942

$

990

$

1,932

2023

970

1,012

1,982

2024

999

1,001

2,000

2025

1,029

908

1,937

2026

1,060

823

1,883

Thereafter

3,374

4,060

7,434

Total undiscounted lease payments

8,374

8,794

17,168

Less present value discount

(2,164

)

(1,565

)

(3,729

)

Present value of lease liabilities

$

6,210

$

7,229

$

13,439