AerSale Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

LEASES (Tables)

Year Ended December 31,

Cash paid for amounts included in the measurement of lease liabilities

Operating lease liabilities arising from obtaining ROU assets

LEASES (Tables)

12 Months Ended

Dec. 31, 2023

The components of lease expense for the years ended December 31, 2023 and 2022 were as follows (in thousands):


	Year Ended December 31,
	2023		2022
Operating lease cost		7,001		5,005
Short-term lease cost		392		170
Variable lease cost		397		1,071
	$	7,790	$	6,246


	2023	2022
Remaining lease term (years)	7.13	7.80
Discount Rate	6.34%	6.40%

Supplemental cash flow information related to leases were as follows (in thousands):

Schedule of expense charged to operations under the operating lease agreements

Expense charged to operations under the operating lease agreements for prior years were as follows (in thousands):



	2021
Rent expense	$	6,040

Summary of future minimum lease payments under non-cancelable operating leases

Our operating leases expire at various dates through 2032. Maturities of our operating lease payments as of December 31, 2023 are as follows (in thousands):


	Operating
	Leases
Year ending December 31:
2024	$	6,272
2025		5,429
2026		5,102
2027		4,154
2028		3,931
Thereafter		11,516
Total undiscounted payments		36,404
Less: imputed interest		(7,434)
Present value of minimum lease payments		28,970
Less: Operating lease liabilities - current		(4,593)
Operating lease liabilities - non-current	$	24,377

Maturities of our operating lease payments as of December 31, 2022, are as follows (in thousands):


	Operating
	Leases
Year ending December 31:
2023	$	6,341
2024		5,965
2025		5,153
2026		4,970
2027		4,154
Thereafter		15,447
Total undiscounted payments		42,030
Less: imputed interest		(9,321)
Present value of minimum lease payments		32,709
Less: Operating lease liabilities - current		(4,426)
Operating lease liabilities - non-current	$	28,283