General form of registration statement for all companies including face-amount certificate companies

LEASES (Tables)

v3.23.1
LEASES (Tables)
12 Months Ended
Dec. 31, 2022
LEASES  
Schedule of right of use assets

The consolidated balance sheets include the following amounts for ROU assets as of December 31, 2022 and 2021 (stated in thousands):

    

December 31, 

December 31, 

2022

    

2021

Operating

 

$

672

 

$

956

Finance

 

382

 

743

Total

 

$

1,054

 

$

1,699

Schedule of components of lease cost

The following are the components of lease cost for operating and finance leases (stated in thousands):

Year Ended December 31, 

2022

    

2021

Lease cost:

Operating leases:

Amortization of ROU assets

$

309

$

124

Interest on lease liabilities

89

Total operating lease cost

398

124

Finance leases:

Amortization of ROU assets

449

381

Interest on lease liabilities

81

67

Total finance lease cost

530

448

Total lease cost

$

928

$

572

Schedule of weighted average lease terms and discount rates for operating and finance leases

As of

As of

    

December 31, 2022

December 31, 2021

Weighted average remaining lease term (years):

Operating leases

 

1.0

3.8

Finance leases

 

1.4

2.9

Weighted average discount rate (%):

Operating leases

 

10.0

10.0

Finance leases

 

7.6

8.0

Schedule of future minimum lease payments and related lease liabilities of operating leases

Future minimum lease payments and related lease liabilities as of December 31, 2022 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2023

$

303

$

360

$

663

2024

 

328

 

268

 

596

2025

 

279

 

153

 

432

2026

23

23

Total lease payments

 

910

 

804

 

1,714

Less: imputed interest

 

(123)

 

(77)

 

(200)

Present value of lease liabilities

787

727

1,514

Less: current portion of lease liabilities

 

234

 

316

 

550

Noncurrent lease liabilities

$

553

$

411

$

964

Schedule of future minimum lease payments and related lease liabilities of financing leases

Future minimum lease payments and related lease liabilities as of December 31, 2022 were as follows (stated in thousands):

    

    

    

Total

Operating

Finance

Lease

Leases

Leases

Liabilities

2023

$

303

$

360

$

663

2024

 

328

 

268

 

596

2025

 

279

 

153

 

432

2026

23

23

Total lease payments

 

910

 

804

 

1,714

Less: imputed interest

 

(123)

 

(77)

 

(200)

Present value of lease liabilities

787

727

1,514

Less: current portion of lease liabilities

 

234

 

316

 

550

Noncurrent lease liabilities

$

553

$

411

$

964