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Operating Leases | 9 Months Ended
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Sep. 30, 2022
Operating Leases |
Operating Leases | 6. Operating Leases The Company has various lease agreements for its offices and service delivery centers. These lease agreements are for terms ranging from two to eleven years and, in most cases, provide for rental escalations ranging from 1.75% to 10%, The Company has determined that the risks and benefits related to these leased properties are retained by the lessors. Accordingly, these are accounted for as operating leases. Lease Agreements with a term of less than one year are treated as short-term leases and accounted for separately as shown in table below. Most of these lease agreements are renewable at the mutual consent of the parties to the agreement. The table below summarizes the amounts recognized in the condensed consolidated financial statements related to operating leases and short-term leases for the periods presented (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the Three Months Ended | ​ | For the Nine Months Ended
​ | ​ | September 30, | ​ | September 30,
​ |  | 2022 |  | 2021 |  | 2022 |  | 2021
Rent expense for long-term operating leases | ​ | $ | 314 | ​ | $ | 393 | ​ | $ | 1,027 | ​ | $ | 1,169
Rent expense for short-term leases | ​ |  | 136 | ​ |  | 59 | ​ | ​ | 398 | ​ | ​ | 143
Total rent expense | ​ | $ | 450 | ​ | $ | 452 | ​ | $ | 1,425 | ​ | $ | 1,312
​ The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of these amounts to the remaining net present value of the operating lease liability reported in the condensed consolidated balance sheet as of September 30, 2022 (in thousands): ​
​ | ​ | ​ | ​
Year |  | Amount
2022 | ​ | $ | 283
2023 | ​ |  | 1,030
2024 | ​ |  | 825
2025 | ​ |  | 837
2026 | ​ |  | 847
2027 and thereafter | ​ |  | 2,384
Total lease payments | ​ |  | 6,206
Less: Interest | ​ |  | (1,534)
Net present value of lease liabilities | ​ | $ | 4,672
​ | ​ |  | ​
Current portion | ​ | $ | 742
Long-term portion | ​ |  | 3,930
Total | ​ | $ | 4,672
​ The weighted average remaining lease terms and discount rates for all the Company’s operating leases as of September 30, 2022 were as follows: ​
​ | ​ | ​ | ​
Weighted-average lease term remaining |  | 55 months | ​
Weighted-average discount rate |  | 8.55 | %
​

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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI https://asc.fasb.org/subtopic&trid=77888251 + Details
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- References No definition available. + Details
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