Quarterly report pursuant to Section 13 or 15(d)

Leases

v3.22.1
Leases
 9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases Leases
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