Guild Holdings Company Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Lease-related Assets and Liabilities

All leases recognized in our Consolidated Balance Sheet as of December 31, 2020 are classified as operating leases, which include leases related to the asset classes reflected in the table below. ROU assets are included in Other assets in our Consolidated Balance Sheet:

	Right-of-Use Assets		Lease Liability
Office leases	$	87,063	$	94,410
Equipment		445		481
Total	$	87,508	$	94,891

Summary of Components of Gross Operating Lease Costs

The following table summarizes the components of our gross operating lease costs incurred during the year ended December 31, 2020:

(in thousands)	Amount
Operating lease cost	$	25,806
Short-term lease cost		1,974
Variable lease cost		3,105
Total lease cost	$	30,885

Summary of Weighted-average Lease Term and Discount Rate Used

Our weighted-average lease term and discount rate used are as follows:

December 31,

2020

Weighted-average lease term (years)

6.7

Weighted-average discount rate

3.8

Summary of Supplemental Cash Flow Information Related to Operating Leases

The following table summarizes supplemental cash flow information related to operating leases:

	2020
Cash paid for operating leases	$	24,565
Right-of-use assets obtained in exchange for new operating lease obligations	$	33,401

Schedule of Minimum Future Commitments or Rental Payments Under Operating Leases

Minimum future commitments by year for our long-term operating leases as of December 31, 2020 are presented in the table below. Such commitments are reflected at undiscounted values and are reconciled to the discounted present value recognized in the balance sheet as follows:

	Amount
2021	$	20,194
2022		19,484
2023		15,088
2024		11,002
2025		7,857
Thereafter		35,195
Total future minimum lease payments	$	108,820
Less: imputed interest		(13,929	)
Total lease liabilities	$	94,891

Schedule of Future Minimum Rental Payments Under Noncancelable Operating Leases

Future minimum rental payments under the noncancelable operating leases are as follows at December 31, 2019:

2020	$	26,620
2021		22,282
2022		17,541
2023		13,360
2024		9,625
Thereafter		34,467
	$	123,895