Annual report pursuant to Section 13 and 15(d)

LEASES

v3.22.4
LEASES
 12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
LEASES LEASES
The Company has the following operating ROU assets and lease liabilities:
December 31, 2022
ROU assets Lease liabilities
Real Estate $ 2,886  $ 3,801 
Cars 24  21 
Total operating leases $ 2,910  $ 3,822 
December 31, 2022
Lease liabilities
Current lease liabilities $ 2,186 
Non-current lease liabilities 1,636 
Total lease liabilities $ 3,822 
The following table summarizes the lease costs recognized in the consolidated statement of operations:
Year ended
December 31, 2022
Operating lease cost $ 1,889 
Short term lease cost 973 
Variable lease cost 48 
Total lease cost $ 2,910 
As of December 31, 2022, the weighted-average remaining lease term and weighted-average discount rate for operating leases are 2.2 years and 3.6%, respectively.
The following table presents supplementary cash flow information regarding the company's operating leases:
Year ended
December 31, 2022
Cash paid for amounts included in the measurement of lease liabilities $ 2,162 
Right of use assets obtained in exchange for operating lease liabilities upon lease modification $ 610 

The following table summarizes the future payments of Innovid for its operating lease liabilities:
December 31, 2022
2023 $ 2,219 
2024 1,018 
2025 669 
Total undiscounted lease payments $ 3,906 
Less: Interest (84)
Total lease liabilities - operating $ 3,822 
Lease Disclosures Related to Periods Prior to the Adoption of ASU 2016-02 are as follows:
Operating lease expenses for the years ended December 31, 2021 and 2020 were $2,072 and, $2,215, respectively.
Future minimum lease commitments under non-cancelable operating leases as of December 31, 2021, are as follows:
Year ended December 31, 2021
 Rental of premises Lease of motor vehicles
2022 $ 2,486  $ 8 
2023 1,844  — 
2024 826  — 
2025 770  — 
Total
$ 5,926  $ 8