Assure Holdings Corp. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES (Tables)

LEASES (Tables)

3 Months Ended

Mar. 31, 2023

The condensed consolidated balance sheets include the following amounts for right of use (“ROU”) assets as of March 31, 2023 and December 31, 2022 (in thousands):


	March 31,			December 31,
	2023		2022
Operating	$	617	$	672
Finance		305		382
Total	$	922	$	1,054

Schedule of components of lease cost

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


	Three Months Ended March 31,
	2023		2022
Lease cost:
Operating leases:
Amortization of ROU assets	$	77	$	77
Interest on lease liabilities		19		23
Total operating lease cost		96		100
Finance leases:
Amortization of ROU assets		77		169
Interest on lease liabilities		14		24
Total finance lease cost		91		193
Total lease cost	$	187	$	293

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


	As of	As of
	March 31, 2023	March 31, 2022
Weighted average remaining lease term (years):
Operating leases	2.5	3.5
Finance leases	1.9	2.9
Weighted average discount rate (%):
Operating leases	5.6	10.0
Finance leases	9.2	7.8

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

Future minimum lease payments and related lease liabilities as of March 31, 2023 were as follows (in thousands):


					Total
	Operating		Finance		Lease
	Leases		Leases		Liabilities
Remainder of 2023	$	219	$	247	$	466
2024		328		268		596
2025		279		153		432
2026		—		23		23
Total lease payments		826		691		1,517
Less: imputed interest		(104)		(63)		(167)
Present value of lease liabilities		722		628		1,350

Less: current portion of lease liabilities			243			281			524
Noncurrent lease liabilities		$	479		$	347		$	826