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Leases (Tables)
12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of Lease Cost

The Company's lease cost for the year ended December 31, 2020 and 2019 included the following components:

 

 

Years ended December 31,

 

 

 

2020

 

 

2019

 

Operating lease costs

 

$

642

 

 

$

963

 

Short-term lease costs

 

 

114

 

 

 

92

 

Variable lease costs

 

 

2

 

 

 

27

 

Amortization of finance lease assets

 

 

77

 

 

 

99

 

Interest on finance lease liabilities

 

 

8

 

 

 

9

 

Total lease cost

 

$

843

 

 

$

1,190

 

 

 

Schedule of Future Minimum Lease Payments under Operating and Finance Leases

 

The table below summarizes the Company's scheduled future minimum lease payments under operating and finance leases recorded on the balance sheet as of December 31, 2020:

 

Year

 

Operating Leases

 

 

Finance Leases

 

2021

 

$

481

 

 

$

73

 

2022

 

 

558

 

 

 

48

 

2023

 

 

569

 

 

 

32

 

2024

 

 

581

 

 

 

20

 

2025

 

 

501

 

 

 

0

 

Thereafter

 

 

2,675

 

 

 

0

 

Total minimum payments required

 

 

5,365

 

 

 

173

 

Less: amount representing interest

 

 

1,147

 

 

 

9

 

Present value of net minimum lease payments

 

 

4,218

 

 

 

164

 

Less: current maturities of lease obligations

 

 

(269

)

 

 

(68

)

Long-term lease obligations

 

$

3,949

 

 

$

96

 

 

 

 

Summary of Weighted Average Remaining Lease Terms and Discount Rates

The weighted average remaining lease terms and discount rates for all the Company’s operating and finance leases were as follows as of December 31, 2020 and 2019:

 

 

Years ended December 31,

 

 

 

2020

 

 

2019

 

Weighted-average remaining lease term - finance leases

 

2.9 years

 

 

3.6 years

 

Weighted-average remaining lease term - operating leases

 

9.6 years

 

 

9.7 years

 

Weighted-average discount rate - finance leases

 

4%

 

 

4%

 

Weighted-average discount rate - operating leases

 

5%

 

 

5%

 

 

 

Schedule of Classification of Right of Use Assets and Lease liabilities

The table below presents supplemental balance sheet information related to leases during the year ended December 31, 2020 and 2019:

 

 

 

 

 

Year ended December 31,

 

Leases

 

Consolidated Balance Sheet Classification

 

2020

 

 

2019

 

Assets:

 

 

 

 

 

 

 

 

 

 

Operating right-of-use assets

 

Other noncurrent assets

 

$

2,272

 

 

$

2,696

 

Finance right-of-use assets

 

Other noncurrent assets

 

 

157

 

 

 

234

 

Total lease assets

 

 

 

$

2,429

 

 

$

2,930

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Accrued liabilities

 

$

269

 

 

$

282

 

Finance lease liabilities

 

Accrued liabilities

 

 

68

 

 

 

77

 

Noncurrent

 

 

 

 

 

 

 

 

 

 

Operating lease liabilities

 

Long-term liabilities

 

 

3,949

 

 

 

3,021

 

Finance lease liabilities

 

Long-term liabilities

 

 

96

 

 

 

164

 

Total lease liabilities

 

 

 

$

4,382

 

 

$

3,544