; ForgeRock, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.21.2
Leases (Tables)
9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Summary of Lease Expense and Supplemental Information
The following table summarizes the components of lease expense, which are included in operating expenses in the Company’s condensed statements of operations and comprehensive loss (in thousands):
Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021
Operating lease cost $ 584  $ 1,724 
Variable lease cost 162  543 
Total lease cost $ 746  $ 2,267 
The following table summarizes supplemental information related to leases (in thousands):
Nine Months Ended September 30, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases $ 2,009
Weighted-average remaining lease term (years)
Operating leases 4.6
Weighted-average discount rate
Operating leases 4.4  %
Summary of Lease Liability Maturities
The following table summarizes the maturities of lease liabilities as of September 30, 2021 (in thousands):
2021 (3 months remaining)
$ 627 
2022 1,544 
2023 886 
2024 726 
2025 461 
Thereafter 902 
Total future minimum lease payments 5,146 
Less: imputed interest (504)
Present value of future minimum lease payments 4,642 
Less: Current portion of operating lease liability (1,766)
Long-term operating lease liability $ 2,876 
Summary of Lease Liability Maturities
As previously disclosed in the Company’s annual consolidated financial statements for the year ended December 31, 2020, and under previous lease accounting standard ASC 840, Leases, the aggregate future noncancelable minimum rental payments on its operating leases as of December 31, 2020 are as follows (in thousands):
Year Ending December 31:
2021 $ 2,455 
2022 1,444 
2023 887 
2024 762 
2025 and years thereafter
1,355 
Total minimum future rentals $ 6,903