LEASES

3 Months Ended

Mar. 31, 2022

LEASES

LEASES

6. LEASES

The Company’s lease portfolio consists of office leases with lease terms ranging from less than one year to seven years, with the weighted average lease term being three years.

Certain leases provide for increases in future lease payments once the term of the lease has expired, as defined in the lease agreements. These leases generally also include real estate taxes.

Short term leases, having a lease term at commencement of 12 months or less, are not capitalized and the expenses are recognized in the period incurred.

Included below is other information regarding leases for the periods presented:

	Three Months Ended March 31,
	2022	2021
Other information
Operating lease expense	$ 109	$ 96
Short-term lease expense	22	96
Cash paid for operating leases	71	16
Weighted-average remaining lease term (years) – operating leases (1)	7.1	3.8
Weighted-average discount rate – operating leases	5.048%	4.481%

(1) The Company’s lease terms include options to extend the lease when it is reasonably certain the Company will exercise its option. Additionally, the Company considered any historical and economic factors in determining if a lease renewal or termination option would be exercised.

As of March 31, 2022, expirations of lease obligations by fiscal year were as follows:

Period Ending December 31,
Remaining 2022	$ 201
2023	163
2024	90
2025	90
2026	90
2027 and thereafter	405
Total lease payments	1,039
Less: interest	(22)
Total operating lease liabilities	$ 1,017