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v3.23.1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2023
LEASES |
Leases | 10. LEASES The Company’s leases primarily consist of administrative real estate leases in Colombia, Germany and the United States, and the Company’s cultivation property in Santander, Colombia. Management has determined all the Company’s leases are operating leases through March 31, 2023. Information regarding the Company’s leases is as follows:
|  | Three months ended March 31, 2023 |  |  | Three months ended March 31, 2022 |
Components of lease expense |  |  |  |  |  |
Operating lease expense |  | $ | 366 |  |  | $ | 207 |
Short-term lease expense |  |  | 73 |  |  |  | 206 |
Total lease expense |  | $ | 439 |  |  | $ | 413 |
Other Information |  |  |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 364 |  |  | $ | 273 |
ROU assets obtained in exchange for new operating lease liabilities |  |  | 97 |  |  |  | 728 |
Weighted-average remaining lease term in years for operating leases |  |  | 3.4 |  |  |  | 3.8 |
Weighted-average discount rate for operating leases |  |  | 7.7 | % |  |  | 8.5 | %
Maturities of operating lease liabilities as of March 31, 2023 are as follows:
Thousands of United States dollars |  | Operating Leases |
2023 |  | $ | 1,411 |
2024 |  |  | 661 |
2025 |  |  | 448 |
2026 |  |  | 394 |
2027 |  |  | 167 |
Thereafter |  |  | 186 |
Total future lease payments |  |  | 3,267 |
Less: imputed interest |  |  | (412 | )
Total lease liabilities |  |  | 2,855 |
Less: current lease liabilities |  |  | (1,241 | )
Total non-current lease liabilities |  | $ | 1,614 |
Most of the Company’s leases contain renewal options to continue the leases for another term equivalent to the original term, which are generally up to two years. The lease liabilities above include renewal terms that management has executed or is reasonably certain of renewing, which only included leases that would have expired in 2023.

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI https://asc.fasb.org/topic&trid=2208923 + Details
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