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Leases | 3 Months Ended
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Mar. 31, 2022
Leases |
Leases | 11. Leases The Company has various lease agreements in place for facilities and equipment. Terms of these leases include, in some instances, scheduled rent increases, renewals, purchase options and maintenance costs, and vary by lease. These lease obligations expire at various dates through 2027. The Company determines if an arrangement is a lease at inception. As the rate implicit in each lease is not readily determinable, the Company uses its incremental borrowing rate based on information available at commencement to determine the present value of the lease payments. Right-of-use assets and lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Leases with an initial term of 12 months or less (“short-term leases”) are not recorded on the balance sheet and are recognized on a straight-line basis over the lease term. As of March 31, 2022, the amount of right-of-use assets and lease liabilities were $3.3 million and $3.5 million, respectively. Aggregate lease expense for the year ended March 31, 2022 was $0.3 million, consisting of $0.3 million in operating lease expense for lease liabilities and $25,597 in short-term lease cost. Maturities of lease liabilities as of March 31, 2022 were as follows: Schedule of Maturities of Operating Lease Liabilities
(Dollars in thousands) |  | Operating Leases |  |  | Weighted-Average Remaining Term in Years |
2022 |  | $ | 872 |  |  |  |  |
2023 |  |  | 1,049 |  |  |  |  |
2024 |  |  | 690 |  |  |  |  |
2025 |  |  | 685 |  |  |  |  |
2026 |  |  | 577 |  |  |  |  |
Thereafter |  |  | 139 |  |  |  |  |
Total lease payments |  |  | 4,012 |  |  |  |  |
Less imputed interest (based on 6.7% weighted-average discount rate) |  |  | (524 | ) |  |  |  |
Present value of lease liability |  | $ | 3,488 |  |  |  | 3.93 |
Eastside Distilling, Inc. and Subsidiaries Notes to Consolidated Financial Statements March 31, 2022 (Unaudited)

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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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