Leases

3 Months Ended

Mar. 31, 2022

The Company has operating leases for office space leased in various buildings for its own use. The Company's leases have remaining terms ranging from 5 to 10 years. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Lease costs related to the Company's operating leases are primarily reflected in "cost of revenue" in the consolidated statements of operations, as they are a reimbursable cost under the 2019 Asset Management Agreement ("2019 AMA", see Note 13 for further information).

The following table summarizes operating lease costs, by type (in thousands):


	Three Months Ended March 31,
		2022		2021
Operating lease costs
Fixed lease costs		$	240	$	223
Variable lease costs		86		75
Total operating lease costs		$	326	$	298

The following table presents supplemental cash flow information related to the Company's operating leases (in thousands):


	Three Months Ended March 31,
		2022		2021
Cash paid for amounts included in measurement of lease liabilities:
Operating cash flows from operating lease liabilities		$	160	$	139

As of March 31, 2022, the Company's operating leases had a weighted-average remaining lease term of 6.67 years and a weighted-average discount rate of 4.25%.

The following table summarizes future lease payments (in thousands):


Year Ending December 31,	Operating Leases
2022	$	723
2023	985
2024	1,008
2025	1,031
2026	1,054
Thereafter	4,091
Total future lease payments	8,892
Imputed interest	(1,481)
Total lease liabilities	$	7,411

The Company does not have any leases which have not yet commenced as of March 31, 2022.