Leases

12 Months Ended

Dec. 31, 2022

NOTE 15—Leases

The Company maintains leased offices in the United States of America, United Kingdom, India, Belgium and France.

The following table presents operating lease commitments as reflected under ASC 840 as of December 31, 2021. Deferred rent for these leases as of December 31, 2021 was $2,508 and was included in other current liabilities and noncurrent liabilities on the consolidated balance sheets.


Year ended December 31,
2022	$	3,023
2023		2,231
2024		2,015
2025		1,787
2026		1,599
2027 and thereafter		3,463
Total	$	14,118

Post Adoption of ASC 842, as discussed in Note 2 above, right-to-use asset and lease liabilities balances as of January 1, 2022 are as follows:


Operating Leases	As on January 1, 2022
Right-to-use asset, net	$	8,534
Current liabilities	$	1,611
Non-Current liabilities	$	9,415

Right-to-use asset and lease liabilities balances as of December 31, 2022 are as follows:


Operating Leases	As on December 31, 2022
Right-to-use asset, net	$	7,388
Current liabilities	$	2,137
Non-Current liabilities	$	7,877

Supplemental information related to operating leases is as follows:


Particulars	During the year ended December 31, 2022
Long term Operating lease cost	$	2,785
Other Short-term lease cost	$	487
Cash paid for amounts included in the measurement of lease liabilities	$	2,741
Right-to-use assets obtained in exchange for new operating lease liabilities	$	1,025
Weighted-average remaining lease term (years) — operating leases		3.2
Weighted-average discount rate — operating leases		6.5	%

Minimum lease obligations - Future minimum payments under all operating leases (including leases with a duration of one year or less) as of December 31, 2022 are as follows:


2023	$	2,723
2024		2,128
2025		1,863
2026		1,676
2027 and thereafter		3,483
Total undiscounted lease commitments	$	11,873
Less: Short term leases and interest component		(1,859	)
Total discounted operating lease liabilities	$	10,014