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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