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Note 8 - Leases

3 Months Ended

Mar. 31, 2022

8.	Leases

We have operating leases primarily associated with our corporate offices and regional service centers as well as for certain equipment. Our leases have remaining lease terms of 1 to 6 years, some of which include options, at our discretion, to extend the leases for additional periods generally on one-year revolving periods. Other leases allow for us to terminate the lease based on appropriate notification periods. For certain of our leased offices, we sublease a portion of the unoccupied space. The terms of the sublease arrangement generally coincide with the underlying lease. The components of lease expense associated with our lease liabilities and supplemental cash flow information related to those leases were as follows (dollar amounts in thousands):

	*For the Three Months Ended March 31,*
	*2022*			*2021*
Operating lease cost, gross	$	1,724		$	1,726
Sublease income		(1,302	)		(1,293	)
Net Operating lease cost	$	422		$	433
Cash paid under operating leases, gross	$	2,635		$	2,584

Weighted average remaining lease term - months		20
Weighted average discount rate		5.2	%

As of March 31, 2022, maturities of lease liabilities were as follows (in thousands):

	*Gross Lease Payment*			*Payments received from Sublease*			*Net Lease Payment*
2022 (excluding the three months ended March 31, 2022)	$	2,151		$	(1,245	)	$	906
2023		549			—			549
2024		347			—			347
2025		204			—			204
2026		95			—			95
Thereafter		25			—			25
Total lease payments		3,371			(1,245	)		2,126
Less imputed interest		(914	)
Total	$	2,457

In August 2021, we entered into an operating lease agreement for our corporate headquarters in Atlanta, Georgia with an unaffiliated third party. The new lease covers approximately 73,000 square feet and commences in June 2022 for a 146 month term. The total commitment under the new lease is approximately $27.8 million and is not included in the table above. A right-of-use asset and liability will be recorded at the commencement date of the lease.

In addition, we occasionally lease certain equipment under cancelable and non-cancelable leases, which are accounted for as capital leases in our consolidated financial statements. As of March 31, 2022, we had no material non-cancelable capital leases with initial or remaining terms of more than one year.