Leases (Notes)

9 Months Ended

Sep. 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 September 30, 2020, the Company had net operating lease right-of-use (ROU) assets of $7.0 million and net finance lease right-of-use assets of $0.3 million. At September 30, 2020, our operating lease liabilities were $8.3 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 September 30, 2020 were 5.56 years and 4.2%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of September 30, 2020 were 2.92 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 September 30, 2020 and 2019 our leased assets and liabilities consisted of the following (in thousands):

Leases	Classification	September 30, 2020		September 30, 2019
Right-of-use assets
Operating leases	Other assets	$	6,960	$	6,410
Finance leases	Property and equipment, net	309		383
Total right-of-use assets		$	7,269	$	6,793
Current portion of lease liabilities
Operating leases	Accrued expenses	$	1,927	$	1,929
Finance leases	Current portion of finance leases	77		99
Long-term portion of lease liabilities
Operating leases	Other long-term liabilities	6,379		5,759
Finance leases	Finance leases, excluding current portion	152		201
Total lease liabilities		$	8,535	$	7,988

As of September 30, 2020 the Company's minimum future lease payments on operating and financing leases were as follows (in thousands):

	September 30, 2020
Maturity of lease liabilities	Operating Leases		Financing Leases
Remaining 2020	$	625	$	24
2021	2,201		91
2022	1,737		73
2023	1,174		45
2024	1,259		21
2025	872		1
Thereafter	1,528		—
Total minimum lease payments	$	9,396	$	255
Imputed interest	(1,090)		(26)
Present value of minimum lease payments	$	8,306	$	229