Leases

9 Months Ended

Sep. 30, 2021

The Company is obligated under certain operating leases for its facilities and office equipment. Certain facility leases contain predetermined fixed escalation of minimum rents at rates ranging from 1.50% to 4.17% per annum and renewal options that could extend certain leases up to an additional five years; the office equipment lease contains a renewal option that could extend the lease to consecutive 60-day terms and a purchase option.

As of September 30, 2021, the future annual minimum lease payments for operating leases are as follows:


Fiscal Year	Total
Remainder of 2021	$	645
2022	2,924
2023	3,201
2024	3,232
2025	2,579
Thereafter	5,075
Total future annual minimum lease payments	$	17,656

The Company records rent expense on a straight-line basis over the life of the lease.

The table below presents the rent expense under all leases for the following periods:


	Successor								Predecessor
	Three Months Ended September 30, 2021		Three Months Ended September 30, 2020		Nine Months Ended September 30, 2021		Period from February 10, 2020 to September 30, 2020		Period from January 1, 2020 to June 21, 2020
Rent expense on leases	$	867	$	400	$	2,452	$	518	$	228