InfuSystem Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

9 Months Ended

Sep. 30, 2023

The components of lease costs for the three and nine months ended September 30, 2023 and 2022 are as follows (in thousands):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Operating lease cost	$	378	$	342	$	1,099	$	1,006
Variable lease cost	97		77		260		231
Total lease cost	$	475	$	419	$	1,359	$	1,237

Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):


	Nine Months Ended September 30,
	2023		2022
Cash paid for amounts included in the measurement of lease liabilities and right of use assets:
Operating cash flow from operating leases	$	1,111	$	946

Right of use assets obtained in exchange for lease obligations:
Operating leases	$	586	$	18

Increases to right of use assets resulting from lease modifications:
Operating leases	$	552	$	1,050

Weighted average remaining lease terms and discount rates for the Company’s operating leases are as follows:


	As of September 30,
	2023	2022

	Years	Years
Weighted average remaining lease term:	5.7	6.9

	Rate	Rate
Weighted average discount rate:	6.8%	7.1%

Future maturities of lease liabilities as of September 30, 2023 are as follows (in thousands):


	Operating Leases (a)
2023	$	347
2024	1,396
2025	1,310
2026	1,115
2027	929
2028 and thereafter	2,037
Total undiscounted lease payments	7,134
Less: Imputed interest	(2,316)
Total lease liabilities	$	4,818

(a) Excludes $1.8 million of legally binding minimum lease payments for an office lease signed but not yet commenced. This lease has an expected term of 7 years and is expected to commence in the first quarter of 2024.