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

Leases (Tables)

9 Months Ended

Sep. 30, 2021

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


	September 30,			September 30,
	2021			2020
Lease cost
Operating lease cost	$	10,099		$	9,950
Variable lease cost		4,275			(415)
Short-term lease cost		458			315
Sublease income		—			(404)
Total lease cost	$	14,832		$	9,446

Weighted average remaining lease term – operating leases		13 years			12 years
Weighted average discount rate – operating leases		8.49	%		8.10	%

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


	September 30,		September 30,
	2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	9,211	$	6,263
Right-of-use assets obtained in exchange for operating lease obligations	$	5,369	$	4,968

As of September 30, 2021, maturities of the Company’s operating lease liabilities are as follows (in thousands):


2021, three months remaining	$	3,323
2022		13,903
2023		14,350
2024		13,821
2025		12,844
Thereafter		126,988
Total lease payments		185,229
Less: imputed interest		(77,801)
Present value of operating lease liabilities	$	107,428