Leases (Notes)

9 Months Ended

Sep. 30, 2021

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. See Note 5 to the consolidated financial statements in our 2020 Annual Report.

    As of September 30, 2021, the Company had net operating lease right-of-use (“ROU”) assets of $5.1 million and net finance lease right-of-use assets of $0.2 million. At September 30, 2021, our operating lease liabilities were $6.3 million and our finance lease liabilities were $0.1 million.

The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of September 30, 2021 were 5.2 years and 4.4%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of September 30, 2021 were 2.3 years and 6.6%, 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, 2021 and December 31, 2020 our leased assets and liabilities consisted of the following (in thousands):

Leases	Classification	September 30, 2021		December 31, 2020
Right-of-use assets
Operating leases	Other assets	$	5,129	$	6,943
Finance leases	Property and equipment, net	206		288
Total right-of-use assets		$	5,335	$	7,231
Current portion of lease liabilities
Operating leases	Accrued expenses	$	1,746	$	2,067
Finance leases	Current portion of finance leases	69		76
Long-term portion of lease liabilities
Operating leases	Other long-term liabilities	4,602		6,124
Finance leases	Finance leases, excluding current portion	80		129
Total lease liabilities		$	6,497	$	8,396

As of September 30, 2021 the Company's minimum future lease payments on operating and financing leases were as follows (in thousands):

	September 30, 2021
Maturity of lease liabilities	Operating Leases		Financing Leases
Remaining 2021	589		24
2022	1,730		74
2023	1,167		47
2024	1,251		21
2025	868		1
Thereafter	1,528		—
Total minimum lease payments	$	7,133	$	167
Imputed interest	(785)		(18)
Present value of minimum lease payments	$	6,348	$	149