Leases

12 Months Ended

Dec. 31, 2022

Leases [Abstract]

Leases

Leases

The Company and its subsidiaries lease their facilities under various operating lease agreements. The Company's headquarters in New York operates under a lease agreement that expires in November 2025. The Company's Israel based operations occupy offices with lease expiration dates that extend through July 2026. The Company also entered into a lease agreement to lease an office space in Scottsdale, Arizona that expires in November 2024. The Company also occupies an office space in Amsterdam, Netherlands with lease that expires in February 2027. As part of the Metromile Acquisition (Note 5), the Company acquired two lease agreements for an office space in San Francisco, California that expires in 2030 and an office space in Tempe, Arizona that expires in 2024.

Operating lease expense under ASC 842 for leased facilities is presented below:

	December 31,
	2022		2021
Operating lease expense	$	7.0	$	4.2
Short term lease expense	0.2		0.6
Variable lease cost	0.2		0.5
	$	7.4	$	5.3

Operating lease expense is included within continuing operations in the consolidated statements of operations and comprehensive loss.

Supplemental cash flow information related to operating leases is as follows ($ in millions):

	December 31,
	2022		2021
Operating cash outflow from operating leases	$	6.5	$	4.1
ROU assets obtained in exchange for lease liabilities for operating leases	$	11.0	$	19.5

Weighted-average remaining lease term and discount rate are as follows:

	December 31,
	2022		2021
Weighted-average remaining lease term (in years)	4.7		4.1
Weighted-average discount rate	4.62	%	4.62	%

Maturities of operating lease liabilities as of December 31, 2022 is as follows ($ in millions):

2023	$	8.8
2024	10.1
2025	9.0
2026	4.6
2027	2.6
Thereafter	6.1
Total	$	41.2

Operating lease expense under ASC 840 for leased facilities was $3.8 million for the year ended December 31, 2020.