Perimeter Solutions, SA Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

LEASES

LEASES

3 Months Ended

Mar. 31, 2023

Lease cost for the three months ended March 31, 2023 and 2022 are as follows (in thousands):


	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Operating lease cost (1)	$	1,153	$	1,309

Reported in:
Cost of goods sold	$	1,092	$	1,204
Selling, general and administrative expense	61		105
Total lease cost	$	1,153	$	1,309

(1)Operating lease cost does not include short-term leases or variable costs, all of which are immaterial.

As of March 31, 2023, the weighted-average remaining lease term of operating leases was approximately 7 years and the weighted-average discount rate applied was 5.8%.

Supplemental cash flow information related to leases for the three months ended March 31, 2023 and 2022 are as follows (in thousands):


	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Cash paid for amounts included in the measurement of operating lease liabilities:
Operating cash flows for operating leases	$	1,169	$	1,240
ROU assets obtained in exchange for new operating lease obligations:
Non-cash investing and financing activity for operating leases	$	10	$	350

As of March 31, 2023, the estimated future minimum payment obligations for non-cancelable operating leases are as follows (in thousands):


	Amount
Remainder of 2023	$	3,283
2024	3,501
2025	3,349
2026	3,110
2027	2,230
Thereafter	6,693
Total lease payments	22,166
Less: imputed interest	(4,392)
Present value of operating lease liabilities	$	17,774