Leases

9 Months Ended

Sep. 30, 2021

LEASES

We have operating lease arrangements for corporate offices, cellular towers, storage units and small building space. The building space is used to house infrastructure, such as transmitters, antennae and other various types of equipment for the Company’s wireless paging services. For leases with a term of 12 months or less, renewal terms are generally of an evergreen nature (either month-to-month or year-to-year). For leases with a term greater than 12 months, renewal terms are generally explicit and provide for one to five optional renewals consistent with the initial term. Many of our leases, with the exception of those for our corporate offices, include options to terminate the lease within one year. Variable lease payments, residual value guarantees or purchase options are not generally present in these leases.

Lease costs are included in technology operations and general and administrative expenses in the Condensed Consolidated Statements of Operations. The following table presents lease costs disaggregated by type:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
(Dollars in thousands)	2021		2020		2021		2020

Operating lease cost	$	1,651	$	1,423	$	4,612	$	4,197
Short-term lease cost	2,563		2,108		7,946		6,122
Short-term lease cost - related party(1)	—		892		—		2,681
Total lease cost	$	4,214	$	4,423	$	12,558	$	13,000

(1) A former member of our Board of Directors, who departed the Board during the third quarter of 2020, concurrently served as a director for an entity that leases transmission tower sites to the Company.

The following table presents supplemental cash flow information:


	For the Nine Months Ended September 30,
(Dollars in thousands)		2021		2020


Cash paid for amounts included in the measurement of lease liabilities - operating leases		$	4,125	$	4,127

The following table presents the weighted average remaining lease term and discount rate:

(Dollars in thousands)

September 30, 2021

Weighted-average remaining lease term - operating leases (in years)

4.82

Weighted-average discount rate - operating leases

4.53%

In March 2021, we relocated our corporate headquarters to office space located in Alexandria, Virginia, consisting of approximately 26,000 square feet of space under a lease that will expire on September 30, 2026. At that time, we recorded a $4.4 million right-of-use asset and corresponding operating lease liability for this lease. Over the life of this lease, cash payments are expected to total approximately $4.9 million.

Maturities of lease liabilities as of September 30, 2021, were as follows:


For the Year Ended December 31,	(Dollars in thousands)

2021 (remaining three months)	$	1,637
2022	5,138
2023	3,954
2024	3,007
2025	2,197
Thereafter	3,685
Total future lease payments	19,618
Imputed interest	(2,024)
Total	$	17,594