Leasing Arrangements

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leasing Arrangements

Note 6 – 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 $11.2 million and $14.1 million for the years ended December 31, 2021 and 2020, respectively. As part of the Company’s efforts to optimize its real estate footprint, the Company terminated leases in four locations and reduced the footprint of two locations in 2021.

The depreciation expense recorded for capital leases totaled $1.8 million and $1.6 million, respectively, for the years ended December 31, 2021 and 2020.

For years subsequent to December 31, 2021, 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):

December 31,	Capital Leases			Operating Leases
2022	$	1,880		$	8,817
2023		1,057			8,251
2024		—			7,133
2025		—			3,798
2026		—			1,860
Thereafter		—			692
Total	$	2,937		$	30,551
Less: interest on lease obligations		(191	)
Net amount		2,746
Less: current portion		(1,621	)
Non-current	$	1,125