Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 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 September 30, 2019 were as follows:

 

 

 

Operating Leases

 

 

Finance Leases

 

Periods Ending December 31,

 

(in thousands)

 

Remaining 2019

 

$

650

 

 

$

151

 

2020

 

 

2,867

 

 

 

236

 

2021

 

 

2,740

 

 

 

30

 

2022

 

 

2,611

 

 

 

 

2023

 

 

2,685

 

 

 

 

Thereafter

 

 

14,477

 

 

 

 

Total lease payments

 

$

26,030

 

 

$

417

 

Less: amount representing interest

 

 

(10,338

)

 

 

(24

)

Present value of lease liabilities

 

$

15,692

 

 

$

393

 

 

 

 

 

 

 

 

 

 

Balance as of September 30, 2019

 

 

 

 

 

 

 

 

Other current liabilities

 

$

1,160

 

 

$

308

 

Operating lease liabilities

 

 

14,532

 

 

 

 

Other long-term liabilities

 

 

 

 

 

85

 

Total

 

$

15,692

 

 

$

393

 

Components of Lease Cost

The components of lease cost were as follows:

 

 

 

September 30, 2019

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

(in thousands)

 

Operating lease cost:

 

 

 

 

 

 

 

 

Operating lease cost

 

$

602

 

 

$

1,976

 

Short-term lease cost

 

 

188

 

 

 

583

 

Total operating lease cost

 

$

790

 

 

$

2,559

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization expense

 

 

83

 

 

$

250

 

Interest on lease liabilities

 

 

12

 

 

 

43

 

Total finance lease cost

 

$

95

 

 

$

293

 

Summary of Other Information Related to Leases

Other information related to leases was as follows:

 

 

 

Nine Months Ended

 

 

 

September 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

 

$

1,696

 

Operating cash flows for finance leases

 

 

43

 

Financing cash flows for finance leases

 

 

345

 

 

 

 

 

 

Operating lease assets obtained in exchange for lease obligations:

 

$

838

 

 

 

 

 

 

Weighted Average Remaining Lease Term

 

 

 

 

Operating leases

 

10.5 years

 

Finance leases

 

1.1 years

 

Weighted Average Discount Rate

 

 

 

 

Operating leases

 

 

10.4

%

Finance leases

 

 

9.9

%

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

 

 

53

 

Balance as of September 30, 2019

 

$

770