Leases

6 Months Ended

Jun. 30, 2019

The Company has operating leases for mining equipment, office equipment and office space with remaining lease terms ranging from less than 1 year to approximately 8 years. Some of these leases include both lease and non-lease components which are accounted for as a single lease component as the Company has elected the practical expedient to combine these components for all leases. As most of the leases do not provide an implicit rate, the Company calculated the right-of-use assets and lease liabilities using its’ secured incremental borrowing rate at the lease commencement date. The Company currently does not have any finance leases outstanding.

Information related to leases was as follows:



	Three Months Ended June 30, 2019
	(In thousands)
Operating lease information:
Operating lease cost	$	916
Operating cash flows from operating leases	869
Weighted average remaining lease term in years	5.45
Weighted average discount rate	5.5		%

Future minimum lease payments under non-cancellable leases as of June 30, 2019 were as follows:



Year	Amount
	(In thousands)
2019	$	2,101
2020	3,616
2021	3,367
2022	3,292
2023	3,261
Thereafter	11,153
Total minimum lease payments	$	26,790
Less imputed interest	(5,012		)

Total operating lease liability	$	21,778

As reflected on balance sheet:
Accrued expenses and other current liabilities	$	2,909
Other noncurrent liabilities	18,869

Total operating lease liability	$	21,778

At June 30, 2019, the Company had a $21.1 million right-of-use operating lease asset recorded within “Other noncurrent assets” on the Condensed Consolidated Balance Sheet.