Leases

12 Months Ended

Dec. 31, 2022

We have operating lease arrangements for corporate offices, cellular towers, storage units and small building spaces. The building space is used to house infrastructure, such as transmitters, antennae and other various 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.

In May 2022, we extended 23 site leases on a Master License Agreement which included a term of 10 years with an option to terminate within 45 days of notification of termination. At that time, we recorded a $2.9 million right-of-use asset and a corresponding operating lease liability for these leases.

In December 2022, we modified an office lease to reduce the leased space and optimize costs, which resulted in a reduction of $1.8 million in right-of-use assets and corresponding operating lease liabilities.

Lease costs are included in Technology Operations and General and Administrative expenses on the Consolidated Statements of Operations. The following table presents lease costs disaggregated by type:


	For the Year Ended December 31,
(Dollars in thousands)	2022		2021		2020

Operating lease cost	$	6,063	$	6,221	$	5,797
Short-term lease cost	9,916		10,529		7,991
Short-term lease cost - related party(1)	—		—		3,518
Total lease cost	$	15,979	$	16,750	$	17,306

(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. Refer to Note 13, "Related Parties," for additional details.

The following table presents supplemental cash flow information:


	For the Year Ended December 31,
(Dollars in thousands)		2022		2021		2020


Cash paid for amounts included in the measurement of lease liabilities - operating leases		$	5,708	$	5,625	$	5,685

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


	December 31,
(Dollars in thousands)	2022	2021	2020


Weighted-average remaining lease term - operating leases (in years)	5.00	4.73	5.06
Weighted-average discount rate - operating leases	4.39%	4.44%	5.17%

We relocated our corporate headquarters in March of 2021 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 $4.4 million in a right-of-use asset and corresponding operating lease liability for this lease.

Maturities of lease liabilities as of December 31, 2022, were as follows:


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

2023	$	5,096
2024	3,843
2025	2,820
2026	2,252
2027	1,100
Thereafter	2,470
Total future lease payments	17,581
Imputed interest	(1,881)
Total	$	15,700