Notes Receivables from Affiliates
|3 Months Ended|
Mar. 31, 2022
|Related Party Transaction [Line Items]|
|Notes Receivables from Affiliates||
NOTES RECEIVABLES FROM AFFILIATES
As of March 31, 2022 and December 31, 2021, the Company had the following notes receivable from affiliates outstanding (in thousands):
Interest on the short-term notes receivables from affiliates accrues at a fixed rate of 4.025% per annum. As of March 31, 2022 and December 31, 2021, the Company had approximately $0.1 million and $0.3 million, respectively, of interest receivable outstanding, which is included in other assets in the accompanying condensed consolidated balance sheets for the periods then ended.
During 2021, the Company executed multiple notes with employees, none of whom are officers or immediate family members of officers, to invest in the Company or the Operating Company. As of March 31, 2022, the aggregate outstanding principal amount outstanding was $4.4 million. These notes mature in 2027 and are interest-only for the first two years after origination at a rate of 4.025% per annum.
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
No definition available.