Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.4
Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases

The maturities of lease liabilities under our operating and finance leases as of December 31, 2020 were as follows:

 

 

Operating Leases

 

Finance Leases

 

Years Ending December 31,

 

(in thousands)

 

2021

 

$

3,177

 

 

$

282

 

2022

 

 

2,835

 

 

 

130

 

2023

 

 

2,696

 

 

 

29

 

2024

 

 

2,593

 

 

 

 

2025

 

 

2,587

 

 

 

 

Thereafter

 

 

9,300

 

 

 

 

Total lease payments

 

$

23,188

 

 

$

441

 

Less: amount representing interest

 

 

(8,417

)

 

 

(37

)

Present value of lease liabilities

 

$

14,771

 

 

$

404

 

 

 

 

 

 

 

 

 

 

Balance as of December 31, 2020

 

 

 

 

 

 

 

 

Other current liabilities

 

$

1,730

 

 

$

255

 

Operating lease liabilities - long-term

 

 

13,041

 

 

 

 

Other long-term liabilities

 

 

 

 

 

149

 

Total

 

$

14,771

 

 

$

404

 

 

Components of Lease Cost

The components of lease cost were as follows:

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

(in thousands)

 

Operating lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

3,020

 

 

$

2,578

 

Short-term lease cost

 

 

987

 

 

 

770

 

Total operating lease cost

 

$

4,007

 

 

$

3,348

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization expense

 

$

389

 

 

$

324

 

Interest on lease liabilities

 

 

60

 

 

 

56

 

Total finance lease cost

 

$

449

 

 

$

380

 

 

 

Summary of Other Information Related to Leases

Other information related to leases was as follows:

 

 

 

Year Ended

 

 

Year Ended

 

 

 

December 31, 2020

 

 

December 31, 2019

 

 

 

(in thousands, except lease term and discount rate)

 

Supplemental Cash Flows Information

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of

   lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows for operating leases

 

$

2,878

 

 

$

2,346

 

Operating cash flows for finance leases

 

 

62

 

 

 

50

 

Financing cash flows for finance leases

 

 

389

 

 

 

486

 

 

 

 

 

 

 

 

 

 

Operating lease assets obtained in exchange for lease obligations:

 

$

 

 

$

838

 

Finance lease assets obtained in exchange for lease obligations:

 

 

281

 

 

 

323

 

Non-cash increase to operating lease assets due to

   remeasurement of lease liabilities:

 

 

639

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

 

 

 

 

Operating leases

 

9.4 years

 

 

10.3 years

 

Finance leases

 

1.7 years

 

 

2.5 years

 

Weighted Average Discount Rate

 

 

 

 

 

 

 

 

Operating leases

 

 

10.3

%

 

 

10.4

%

Finance leases

 

 

9.7

%

 

 

10.0

%

 

Summary of Activity for ARO Liabilities

The following table presents the activity for our ARO liabilities:

 

 

 

ARO Liability

 

 

 

(In thousands)

 

Balance as of December 31, 2019

 

$

788

 

Accretion expense

 

 

78

 

Balance as of December 31, 2020

 

$

866