Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.2
Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Schedule of Future Minimum Payments Under Operating, Finance and Capital Leases

Future minimum payments under our operating, finance and capital leases as of December 31, 2018 were as follows:

 

 

Operating Leases

 

 

Finance Leases

 

 

 

Capital Leases

 

Years Ending December 31,

 

(in thousands)

 

2019

$

 

1,107

 

 

$

 

934

 

 

 

$

540

 

2020

 

 

1,666

 

 

 

 

962

 

 

 

 

234

 

2021

 

 

1,555

 

 

 

 

991

 

 

 

 

29

 

2022

 

 

1,337

 

 

 

 

1,020

 

 

 

 

 

2023

 

 

1,375

 

 

 

 

1,051

 

 

 

 

 

Thereafter

 

 

3,122

 

 

 

 

11,458

 

 

 

 

 

Total minimum payments

$

 

10,162

 

 

$

 

16,416

 

 

 

$

803

 

Less: amount representing interest

 

 

 

 

 

 

 

 

 

 

 

 

65

 

Present value of capital lease obligations

 

 

 

 

 

 

 

 

 

 

 

 

738

 

Less: current portion

 

 

 

 

 

 

 

 

 

 

 

 

490

 

Capital lease obligation, net of current

   portion

 

 

 

 

 

 

 

 

 

 

 

$

248

 

Schedule of Maturities of Lease Liabilities Under Operating and Finance Leases

The maturities of lease liabilities under our operating and finance leases as of June 30, 2019 were as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

Periods Ending December 31,

 

(in thousands)

 

Remaining 2019

 

$

1,248

 

 

$

272

 

2020

 

 

2,867

 

 

 

236

 

2021

 

 

2,740

 

 

 

30

 

2022

 

 

2,611

 

 

 

 

2023

 

 

2,685

 

 

 

 

Thereafter

 

 

14,477

 

 

 

 

Total lease payments

 

$

26,628

 

 

$

538

 

Less: amount representing interest

 

 

(10,748

)

 

 

(35

)

Present value of lease liabilities

 

$

15,880

 

 

$

503

 

 

 

 

 

 

 

 

 

 

Balance as of June 30, 2019

 

 

 

 

 

 

 

 

Other current liabilities

 

$

961

 

 

$

362

 

Operating lease liabilities

 

 

14,919

 

 

 

 

Other long-term liabilities

 

 

 

 

 

141

 

Total

 

$

15,880

 

 

$

503

 

Components of Lease Cost

The components of lease cost were as follows:

 

 

 

June 30, 2019

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

(in thousands)

 

Operating lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

649

 

 

$

1,374

 

Short-term lease cost

 

 

200

 

 

 

395

 

Total operating lease cost

 

$

849

 

 

$

1,769

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization expense

 

$

84

 

 

$

167

 

Interest on lease liabilities

 

 

14

 

 

 

31

 

Total finance lease cost

 

$

98

 

 

$

198

 

Summary of Other Information Related to Leases

Other information related to leases was as follows:

 

 

 

Six Months Ended

 

 

 

June 30, 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

 

$

1,098

 

Operating cash flows for finance leases

 

 

31

 

Financing cash flows for finance leases

 

 

235

 

 

 

 

 

 

Operating lease assets obtained in exchange for lease obligations:

 

$

838

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

Operating Leases

 

10.7 years

 

Finance Leases

 

0.9 years

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

10.4

%

Finance leases

 

 

9.5

%

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, 2018

 

$

717

 

Accretion expense

 

 

35

 

Balance as of June 30, 2019

 

$

752