Desktop Metal, Inc. 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, 2021

Schedule of other lease related balances

Information about other lease-related balances is as follows (in thousands):


	Years Ended December 31,
	2021			2020
Lease cost
Operating lease cost	$	2,572		$	746
Finance lease cost		6			—
Short‑term lease cost		129			—
Variable lease cost		178			40
Total lease cost	$	2,885		$	786
Other Information
Operating cash flows used in operating leases	$	2,862		$	1,073
Operating cash flows used in finance leases		8			—
Weighted‑average remaining lease term—operating leases (years)		5.1			3.2
Weighted‑average remaining lease term—finance leases (years)		7.6			—
Weighted‑average discount rate—operating leases		4.3			7.6	%
Weighted‑average discount rate—finance leases		1.5	%		—

Schedule of future minimum lease payments

Future minimum lease payments under noncancelable operating leases at December 31, 2021, are as follows (in thousands):


	Operating Leases		Finance Leases
2022	$	6,109	$	86
2023		4,005		86
2024		2,507		82
2025		1,944		81
2026		1,707		81
2026 and after		3,556		411
Total lease payments		19,828		827
Less amount representing interest		(1,994)		(57)
Total lease liability		17,834		770
Less current portion of lease liability		(5,446)		(81)
Lease liability, net of current portion	$	12,388	$	689

Schedule of components under operating lease arrangements


		For the years ended December 31,
		2021			2020
		Operating	Sales-type		Operating	Sales-type
Revenue	$	67	261	$	—	—
Interest Income ⁽¹⁾		—	3		—	—

^{(1) Interest income related to sales-type leases is recorded as a component of revenue in the consolidated statements of operations and comprehensive loss for each of the periods presented.}

Schedule of components under sales-type lease arrangements


		For the years ended December 31,
		2021			2020
		Operating	Sales-type		Operating	Sales-type
Revenue	$	67	261	$	—	—
Interest Income ⁽¹⁾		—	3		—	—

^{(1) Interest income related to sales-type leases is recorded as a component of revenue in the consolidated statements of operations and comprehensive loss for each of the periods presented.}

Schedule of net investment in sales-type leases


	2021		2020
Future minimum lease payments receivable	$	1,235	$	—
Less: Allowance for doubtful accounts		(506)		—
Net future minimum lease payments receivable		729		—
Less: Unearned interest income		(38)		—
Net investment in sales-type leases	$	691	$	—

Schedule of future minimum lease of lessor operating lease arrangements


	Operating		Sales-type
2022	$	264	$	687
2023		37		458
2024		9		45
2025		—		45
2026		—		—
Thereafter		—		—
Total minimum lease payments	$	310	$	1,235
Less: Allowance for doubtful accounts				(506)
Less: Present value discount				(38)
Future minimum lease payments receivable			$	691

Schedule of future minimum lease of lessor sales-type lease arrangements


	Operating		Sales-type
2022	$	264	$	687
2023		37		458
2024		9		45
2025		—		45
2026		—		—
Thereafter		—		—
Total minimum lease payments	$	310	$	1,235
Less: Allowance for doubtful accounts				(506)
Less: Present value discount				(38)
Future minimum lease payments receivable			$	691