Leasing Arrangements

9 Months Ended

Sep. 30, 2022

Note 4 – Leasing arrangements

The Company leases office space and certain equipment under operating and capital lease agreements, expiring in various years through 2029. Certain leases contain annual rent escalation clauses.

Rent expense totaled $2.5 million and $2.7 million for the three months ended September 30, 2022 and 2021, respectively. Rent expense totaled $7.9 million and $8.5 million for the nine months ended September 30, 2022 and 2021, respectively.

For periods subsequent to September 30, 2022, future minimum payments for all operating and capital lease obligations that have initial non-cancelable lease terms exceeding one year, net of rental income from subleases are as follows (in thousands):


	Capital Leases		Operating Leases
2022 (3 months)	$	365	$	1,787
2023		1,057		6,830
2024		—		5,656
2025		—		3,271
2026		—		1,816
Thereafter		—		692
Total	$	1,422	$	20,052
Less interest on lease obligations		62
		1,360
Less current portion		1,189
Non-current portion	$	171