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

Leases (Tables)

9 Months Ended

Sep. 30, 2020

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


	September 30,			September 30,
	2020			2019
Lease cost
Operating lease cost	$	9,950		$	5,040
Variable lease cost		(415)			1,811
Short-term lease cost		315			273
Sublease income		(404)			(582)
Total lease cost	$	9,446		$	6,542

Weighted average remaining lease term – operating leases		12 years			14 years
Weighted average discount rate – operating leases		8.10	%		8.22	%

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


	September 30,		September 30,
	2020		2019
Cash paid for amounts included in the measurement of operating lease liabilities	$	6,263	$	5,212
Right-of-use assets obtained in exchange for operating lease obligations	$	4,968	$	1,076

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


2020, three months remaining	$	3,315
2021		13,220
2022		13,228
2023		13,524
2024		12,927
Thereafter		124,760
Total lease payments		180,974
Less: imputed interest		(76,529)
Present value of operating lease liabilities	$	104,445