Leases

12 Months Ended

Dec. 31, 2021

LEASES

The Company leases its showrooms and headquarters office space under operating leases. The fixed, non-cancelable terms of our real estate leases are generally 5-10 years and typically include renewal options. Most of the real estate leases require payment of real estate taxes, insurance and certain common area maintenance costs in addition to future minimum lease payments.

As of December 31, 2021, no renewal option periods were included in the estimated minimum lease terms as the options were not deemed to be reasonably certain to be exercised. The depreciable life of assets under lease and leasehold improvements are limited by the expected lease term.

During the year ended December 31, 2021, the Company entered into new lease agreements and amended certain existing leases to extend their terms.

Total operating lease expense recorded in selling, general and administrative expenses in the consolidated statements of operations were $3.3 million, $2.5 million and $1.9 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The aggregate future minimum lease payments under long-term non-cancelable operating leases, where the Company has taken physical possession of or has control of the physical use of these leased properties, as of December 31, 2021 are as follows (in thousands):


	Amount
Years ending December 31,
2022	$	3,507
2023	3,680
2024	3,530
2025	3,449
2026	3,103
Thereafter	7,897
Total minimum lease payments	$	25,166