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

Leases (Tables)

6 Months Ended

Jun. 30, 2022

The components of lease expense for the six months ended June 30, 2022 and 2021 are as follows (in thousands):


	June 30,			June 30,
	2022			2021
Lease cost
Operating lease cost	$	7,317		$	6,621
Variable lease cost		5,597			2,622
Short-term lease cost		521			322
Total lease cost	$	13,435		$	9,565

Weighted average remaining lease term – operating leases		13 years			13 years
Weighted average discount rate – operating leases		8.40	%		8.49	%

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


	June 30,		June 30,
	2022		2021
Cash paid for amounts included in the measurement of operating lease liabilities	$	6,531	$	5,682
Right-of-use assets obtained in exchange for operating lease obligations	$	3,709	$	34

As of June 30, 2022, maturities of the Company’s operating lease liabilities are as follows (in thousands):


2022, six months remaining	$	3,164
2023		15,164
2024		14,663
2025		13,705
2026		13,636
Thereafter		131,925
Total lease payments		192,257
Less: imputed interest		(81,879)
Present value of operating lease liabilities	$	110,378