Leases (Notes)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases of Lessee Disclosure [Text Block]

LEASES

The Company has entered into contractual lease arrangements to rent office space and equipment from third-party lessors. On January 1, 2019, the Company adopted ASC Topic 842, Leases, ("Topic 842") and related disclosures. See note 5 to the consolidated financial statements in our Annual Report on Form 10-K for the year ended December 31, 2019.

        As of June 30, 2020, the Company had net operating lease right-of-use assets of $7.3 million and net finance lease right-of-use assets of $0.3 million. At June 30, 2020, our operating lease liabilities were $6.8 million and our finance lease liabilities were $0.2 million.

The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of June 30, 2020 were 5.73 years and 4.1%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of June 30, 2020 were 3.19 years and 5.6%, respectively. The Company's lease discount rates are generally based on estimates of its incremental borrowing rate, as discount rates implicit in the Company's leases cannot be readily determined.

        As of June 30, 2020 and 2019 our leased assets and liabilities consisted of the following (in thousands):

Leases	Classification	June 30, 2020		June 30, 2019
Right-of-use assets
Operating leases	Other assets	$	7,332	$	4,384
Finance leases	Property and equipment, net	283		416
Total leased assets		$	7,615	$	4,800
Lease liabilities
Current portion
Operating leases	Accrued expenses	$	1,906	$	1,567
Finance leases	Current portion of finance leases	84		104
Long-term
Operating leases	Other long-term liabilities	6,793		4,343
Finance leases	Finance leases, excluding current portion	178		222
Total lease liabilities		$	8,961	$	6,236

As of June 30, 2020 future minimum lease payments on operating and financing leases were as follows (in thousands):

	June 30, 2020
Maturity of lease liabilities	Operating Leases		Financing Leases
Remaining 2020	$	1,227	$	49
2021	2,151		94
2022	1,705		74
2023	1,159		45
2024	1,242		21
2025	865		1
Thereafter	1,528		—
Total minimum lease payments	$	9,877	$	284
Imputed interest	(1,178)		(22)
Present value of minimum lease payments	$	8,699	$	262