Assure Holdings Corp. General form of registration statement for all companies including face-amount certificate companies

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

LEASES (Tables)

LEASES (Tables)

9 Months Ended

12 Months Ended

Sep. 30, 2022

Dec. 31, 2021

LEASES

Schedule of right of use assets

The condensed consolidated balance sheets include the following amounts for right of use (“ROU”) assets as of September 30, 2022 and December 31, 2021 (in thousands):


	September 30,			December 31,
	2022		2021
Operating	$	725	$	956
Finance		469		743
Total	$	1,194	$	1,699

The consolidated balance sheets include the following amounts for ROU assets as of December 31, 2021 and 2020 (stated in thousands):


	December 31,
	2021		2020
Operating	$	956	$	124
Finance		743		608
Total	$	1,699	$	732

Schedule of components of lease cost

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


	Nine Months Ended September 30,
	2022		2021
Lease cost:
Operating leases:
Amortization of ROU assets	$	231	$	227
Interest on lease liabilities		68		—
Total operating lease cost		299		227
Finance leases:
Amortization of ROU assets		353		372
Interest on lease liabilities		64		69
Total finance lease cost		417		441
Total lease cost	$	716	$	668

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


	Year Ended December 31,
	2021		2020
Lease cost:
Operating leases:
Amortization of ROU assets	$	124	$	212
Interest on lease liabilities		—		15
Total operating lease cost		124		227
Finance leases:
Amortization of ROU assets		381		371
Interest on lease liabilities		67		64
Total finance lease cost		448		435
Total lease cost	$	572	$	662

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


	As of	As of
	September 30, 2022	September 30, 2021
Weighted average remaining lease term (years):
Operating leases	3.0	—
Finance leases	2.6	3.1
Weighted average discount rate (%):
Operating leases	10.0	—
Finance leases	7.8	8.1


	As of	As of
	December 31, 2021	December 31, 2020
Weighted average remaining lease term (years):
Operating leases	3.8	0.5
Finance leases	2.9	3.3
Weighted average discount rate:
Operating leases	10.0	6.9
Finance leases	8.0	7.9

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

Future minimum lease payments and related lease liabilities as of September 30, 2022 were as follows (in thousands):


					Total
	Operating		Finance		Lease
	Leases		Leases		Liabilities
Remainder of 2022	$	84	$	165	$	249
2023		303		360		663
2024		328		268		596
2025		279		152		431
2026		—		23		23
Total lease payments		994		968		1,962
Less: imputed interest		(145)		(93)		(238)
Present value of lease liabilities		849		875		1,724
Less: current portion of lease liabilities		231		391		622
Noncurrent lease liabilities	$	618	$	484	$	1,102

Future minimum lease payments and related lease liabilities as of December 31, 2021 were as follows (stated in thousands):


					Total
	Operating		Finance		Lease
	Leases		Leases		Liabilities
2022	$	295	$	623	$	918
2023		303		306		609
2024		328		239		567
2025		278		148		426
2026		—		23		23
Thereafter		—		—		—
Total lease payments		1,204		1,339		2,543
Less: imputed interest		(212)		(147)		(359)
Present value of lease liabilities		992		1,192		2,184
Less: current portion of lease liabilities		153		549		702
Noncurrent lease liabilities	$	839	$	643	$	1,482