XML 46 R23.htm IDEA: XBRL DOCUMENT
v3.22.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2022
Lessee Disclosure [Abstract] |
Leases | 14. Leases The Company has entered into operating leases for its corporate headquarters office facilities, financial data terminals and equipment. The Company has no finance leases. The following table provides additional information regarding the Company’s leases:
|  | Years Ended December 31, |
|  | 2022 |  |  | 2021 |
Lease cost: |  |  |  |  |  |  |  |
Operating lease cost |  | $ | 963 |  |  | $ | 1,950 |
Short-term lease cost |  |  | 223 |  |  |  | 205 |
Total lease cost |  | $ | 1,186 |  |  | $ | 2,155 |
Other information: |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of operating liabilities (operating leases) |  | $ | 965 |  |  | $ | 15,560 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | n/a |  |  |  | n/a |
Weighted-average remaining lease term (in years)—operating leases |  |  | 1.2 |  |  |  | 1.5 |
Weighted-average discount rate—operating leases |  |  | 6.4% |  |  |  | 4.4% |
None of the Company’s leases include variable payments, residual value guarantees or any restrictions or covenants relating to the Company’s ability to pay dividends or incur additional financing obligations. On September 9, 2021, the Company entered into a Surrender Agreement to terminate the lease for its principal executive office at 245 Park Avenue, New York, New York effective immediately. In consideration for the landlord’s agreement to enter into the Surrender Agreement and accelerate the expiration date of the term of the lease from August 31, 2029, the Company paid a termination fee of $12,725. As a result, the Company recognized a loss on the termination of a lease of $9,277 during the year ended December 31, 2021, which was inclusive of the write-off of the right-of-use asset, broker fees and a reduction in operating lease liabilities. This loss is included in impairments in the Company’s Consolidated Statements of Operations (Note 26 ). Additionally, the Company recognized an impairment loss of $303 resulting from the derecognition of a right-of-use asset upon exiting its London office in February 2021, as well as costs incurred to restore the office space to its original condition. The Company’s leases also included extension, automatic renewal and termination provisions. These provisions were also not reasonably certain of being exercised and were therefore not recognized as part of the right-of-use asset and lease liability. The following table discloses future minimum lease payments at December 31, 2022 with respect to the Company’s operating lease liabilities:
2023 |  | $ | 1,125 |
2024 |  |  | 398 |
2025 |  |  | — |
2026 |  |  | — |
2027 |  |  | — |
2028 and thereafter |  |  | — |
Total future minimum lease payments (undiscounted) |  | $ | 1,523 |
The following table reconciles the future minimum lease payments (disclosed above) at December 31, 2022 to the operating lease liabilities recognized in the Company’s Consolidated Balance Sheets:
Amounts recognized in the Company’s Consolidated Balance Sheets |  |  |  |
Lease liability—short term |  | $ | 1,125 |
Lease liability—long term |  |  | 339 |
Subtotal |  |  | 1,464 |
Difference between undiscounted and discounted cash flows |  |  | 59 |
Total future minimum lease payments (undiscounted) |  | $ | 1,523 |

X
- References No definition available. + Details
Name: | us-gaap_LesseeDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration