220. Leases  

Right-of-use assets are included in the other assets line item and lease liabilities are included in the other liabilities line item of the consolidated balance sheet. We determine if a contract contains a lease at inception and recognize operating lease right-of-use assets and operating lease liabilities based on the present value of the future minimum lease payments at the commencement date. Since our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. Lease agreements have lease and non-lease components, which are accounted for as a single lease component. Lease expense is recognized on a straight-line basis over the lease term.

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The Company’s operating lease obligations predominately pertain to office leases utilized in the operation of our business. Our leases have remaining terms of one to 12 years, some of which include options to extend the leases. The components of lease expense and other lease information as of and during the nine month periods ended September 30, 2022 and 2021 were as follows (in thousands):

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Other lease information as of September 30, 2022 and December 31, 2021 are as follows (in thousands):

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We incurred $18 thousand in short-term lease payments not included in our lease liability during the nine months ended September 30, 2022.

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Future minimum lease payments under non-cancellable leases as of September 30, 2022 and December 31, 2021 were as follows (in thousands):

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