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

Leases (Tables)

6 Months Ended

Jun. 30, 2021

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


	June 30,			June 30,
	2021			2020
Lease cost
Operating lease cost	$	6,621		$	6,605
Variable lease cost		2,622			(536)
Short-term lease cost		322			173
Sublease income		—			(269)
Total lease cost	$	9,565		$	5,973

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

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


	June 30,		June 30,
	2021		2020
Cash paid for amounts included in the measurement of operating lease liabilities	$	5,682	$	4,081
Right-of-use assets obtained in exchange for operating lease obligations	$	34	$	288

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


2021, six months remaining	$	6,683
2022		13,241
2023		13,540
2024		12,936
2025		11,901
Thereafter		112,865
Total lease payments		171,166
Less: imputed interest		(70,123)
Present value of operating lease liabilities	$	101,043