Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies Disclosure [Abstract]

The determination of the discount rate used to calculate the present value of the right-of-use assets and lease liabilities depends on whether an interest rate is specified in the lease or not. If the lease specifies a rate, that rate is used when calculating the present value of lease payments. If the rate is not readily determinable, which is generally the case for the Company, the Company’s incremental borrowing rate (“IBR”) as of the date of inception of the lease is used (for initial measurement, the IBR was determined as of the adoption date of the standard). The IBR is the rate of interest that the Company would have to pay to borrow on a collateralized basis over a similar term and amount equal to the lease payments in a similar economic environment. The Company used a ratings benchmark report against its peers in the technology sector.

The Company has operating leases for its corporate offices and other service agreements. The Company's leases have remaining lease terms of 1 to 12 years, some of which include options to extend. The Company's lease expense for the year ended December 31, 2019 consisted entirely of operating leases was approximately $13.0 million. Operating lease payments, which reduced operating cash flows for the year ended December 31, 2019 was approximately $7.0 million.

Supplemental balance sheet information related to leases was as follows:



	As of December 31, 2019
Operating Leases	(in thousands, except lease term and discount rate)
Right-of-use asset, net	$	15,680

Current operating lease liability	6,602
Long term operating lease liability	12,865
Total operating lease liability	$	19,467

Weighted Average Remaining Lease Term
Operating leases	3.5 years

Weighted Average Discount Rate
Operating leases	7		%

Schedule of Future Minimum Lease Payments Under Non-Cancelable Operating Leases

Future minimum lease payments under non-cancellable operating leases (with an initial or remaining lease terms in excess of one year) are as follows (amounts in thousands):



Year Ending December 31,	Operating Leases
2020	$	7,787
2021	6,530
2022	3,746
2023	1,925
2024	1,148
Thereafter	864
Total minimum lease payments	$	22,000
Less: present value adjustment	(2,533		)
Total operating lease liability	$	19,467