The ONE Group Hospitality, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

6 Months Ended

Jun. 30, 2020

The components of lease expense for the period were as follows (in thousands):


	June 30,			June 30,
	2020			2019
Lease cost
Operating lease cost	$	6,605		$	3,372
Variable lease cost		(536)			1,297
Short-term lease cost		173			214
Sublease income		(269)			(474)
Total lease cost	$	5,973		$	4,409

Weighted average remaining lease term – operating leases		13 years			14 years
Weighted average discount rate – operating leases		8.49	%		8.25	%

Supplemental cash flow information related to leases for the period was as follows (in thousands):


	June 30,		June 30,
	2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	4,081	$	3,456
Right-of-use assets obtained in exchange for operating lease obligations	$	288	$	281

As of June 30, 2020, maturities of the Company’s operating lease liabilities are as follows (in thousands):


2020, six months remaining	$	6,535
2021		12,843
2022		12,801
2023		13,091
2024		12,486
Thereafter		115,863
Total lease payments		173,619
Less: imputed interest		(72,767)
Present value of operating lease liabilities	$	100,852