Quarterly report pursuant to Section 13 or 15(d)

Leases

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Leases
 9 Months Ended
Sep. 30, 2023
Leases [Abstract]  
Leases LEASES
Greenlane as a Lessee
As of September 30, 2023, we had facilities financed under operating leases consisting of warehouses, offices, and retail stores, with lease term expirations between 2023 and 2027. Lease terms are generally three to seven years for warehouses, office space and retail store locations. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants.
The following table provides details of our future minimum lease payments under operating lease liabilities recorded in our condensed consolidated balance sheet as of September 30, 2023. The table below does not include commitments that are contingent on events or other factors that are currently uncertain or unknown.
(in thousands) Operating Leases
Remainder of 2023 $ 261 
2024 914 
2025 942 
2026 81 
2027 and thereafter — 
Total minimum lease payments $ 2,197 
Less: imputed interest 61 
Present value of minimum lease payments $ 2,136 
Less: current portion 898 
Long-term portion $ 1,238 
Rent expense under operating leases was approximately $0.4 million and $1.5 million for three and nine months ended September 30, 2023, respectively, and approximately $0.6 million and $2.1 million for the three and nine months ended September 30, 2022, respectively.
The following expenses related to our operating leases were included in "general and administrative" expenses within our condensed consolidated statements of operations and comprehensive loss:
For the nine months ended
September 30,
(in thousands) 2023 2022
Operating lease cost
 1,474  2,120 
Variable lease cost
 461  696 
Total lease cost $ 1,935  $ 2,816 
The table below presents lease-related terms and discount rates as of September 30, 2023:
Operating Leases
Weighted average remaining lease terms 2.2 years
Weighted average discount rate 2.3  %