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LEASES | 9 Months Ended
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Sep. 30, 2022
Leases |
LEASES | 13. LEASES The Company leases certain offices, facilities and equipment under operating and financing leases. Our leases have remaining terms ranging from less than 1 year to 5 years some of which contain options to extend up to 5 years. As of September 30, 2022 and December 31, 2021, assets recorded under finance leases were $1.2 million and $1.6 million, respectively, and accumulated amortization associated with finance leases were $474 and $1.1 million, respectively. As of September 30, 2022 and December 31, 2021, assets recorded under operating leases were $2.5 million and $3.9 million, respectively, and accumulated amortization associated with operating leases were $1.2 million and $2.3 million, respectively. The Company did not execute any new lease agreements during the three months ended September 30, 2022. The components of the lease expense were as follows:
|  | Three Months Ended |  |  | Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Operating lease cost |  | $ | 188 |  |  | $ | 173 |  |  | $ | 563 |  |  | $ | 456 |
Finance lease cost |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use asset |  | $ | 53 |  |  | $ | 62 |  |  | $ | 177 |  |  | $ | 219 |
Interest on lease liabilities |  |  | 10 |  |  |  | 9 |  |  |  | 31 |  |  |  | 30 |
Total finance lease cost |  | $ | 63 |  |  | $ | 71 |  |  | $ | 208 |  |  | $ | 249 |
Other information related to leases was as follows: Supplemental Cash Flows Information
|  | September 30, |
|  | 2022 |  |  | 2021 |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |  |  |
Operating cash flow payments for operating leases |  | $ | 559 |  |  | $ | 449 |
Operating cash flow payments for finance leases |  |  | 31 |  |  |  | 30 |
Financing cash flow payments for finance leases |  |  | 178 |  |  |  | 226 |
Right-of-use assets obtained in exchange for lease obligations |  |  |  |  |  |  |  |
Operating lease liabilities arising from obtaining right of use assets |  |  | 551 |  |  |  | 1,418 |
Weighted Average Remaining Lease Term
|  |  | September 30, |
|  |  | 2022 |  |  |  | 2021 |
Operating leases |  |  | 2 years |  |  |  | 3 years |
Finance leases |  |  | 3 years |  |  |  | 2 years |
Weighted Average Discount Rate
|  | September 30, |
|  | 2022 |  |  | 2021 |
Operating leases |  |  | 5.50 | % |  |  | 5.50 | %
Finance leases |  |  | 6.61 | % |  |  | 6.76 | %
Future minimum lease payments under non-cancellable leases as of September 30, 2022 were as follows:
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
2022 |  | $ | 182 |  |  | $ | 74 |
2023 |  |  | 670 |  |  |  | 389 |
2024 |  |  | 508 |  |  |  | 158 |
2025 |  |  | 95 |  |  |  | 174 |
Thereafter |  |  | 24 |  |  |  | 128 |
Total future minmum lease payments |  |  | 1,479 |  |  |  | 923 |
Less imputed interest |  |  | (92 | ) |  |  | (102 | )
Total future minmum lease payments |  | $ | 1,387 |  |  | $ | 821 |
Reported as of September 30, 2022:
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
Right-of-use assets |  | $ | 1,343 |  |  | $ | 773 |
|  | Operating |  |  | Finance |
|  | Leases |  |  | Leases |
Accounts payable and accrued liabilities |  | $ | 621 |  |  | $ | 351 |
Other long-term liabilities |  |  | 766 |  |  |  | 470 |
Total |  | $ | 1,387 |  |  | $ | 821 |

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- Definition The entire disclosure of leases. + References No definition available. + Details
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