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Leases
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases  Leases

Effective January 1, 2019, as described more fully in Note 2, Significant Accounting Policies and Recent Accounting Pronouncements, the Company adopted ASC 842 and recognized lease obligations and associated ROU assets for its existing non-cancelable operating leases. The Company has non-cancelable operating leases primarily associated with office space, related office equipment and other facilities.

The leases expire in various years and generally provide for renewal options. In the normal course of business, management expects that these leases will be renewed or replaced by leases on other properties.
 
Certain operating leases provide for increases in future minimum annual rental payments based on defined increases in the Consumer Price Index, subject to certain minimum increases. Several of these lease agreements contain provisions for periods in which rent payments are reduced. The total amount of rental payments due over the lease term is recorded as rent expense on a straight-line basis over the term of the lease.

A summary of all lease classifications in our condensed consolidated balance sheet is as follows:
Leases
Classification
 
June 30, 2019
Assets
 
 
 
Operating lease assets
Operating lease ROU assets
 
$
19,354

Finance lease assets
Property and equipment, net (1)
 
483

  Total leased assets
 
 
$
19,837

 
 
 
 
Liabilities
 
 
 
Current:
 
 
 
   Operating
Current portion of operating lease liabilities
 
$
6,892

   Finance
Current portion of long-term obligations
 
308

Long-term:
 
 
 
   Operating
Operating lease liabilities, less current portion
 
13,810

   Finance
Long-term obligations, less current portion
 
199

  Total lease liabilities
 
 
$
21,209

(1) Finance leased assets are recorded net of accumulated amortization of $208.

As of June 30, 2019, maturities of lease liabilities are as follows:
 
Operating Leases
 
Finance Leases
 
Total
Remainder of 2019
$
5,468

 
$
161

 
$
5,629

2020
8,328

 
322

 
8,650

2021
5,733

 
45

 
5,778

2022
4,742

 

 
4,742

2023
2,704

 

 
2,704

Thereafter
2,118

 

 
2,118

Total lease payments
29,093

 
528

 
29,621

Less: interest and accretion
(8,391
)
 
(21
)
 
(8,412
)
Present value of minimum lease payments
20,702

 
507

 
21,209

Less: current portion
(6,892
)
 
(308
)
 
(7,200
)
Long-term portion
$
13,810

 
$
199

 
$
14,009



As of December 31, 2018, maturities of lease liabilities are as follows:
 
Operating Leases
 
Finance Leases
 
Total
2019
$
8,825

 
$
718

 
$
9,543

2020
6,452

 
308

 
6,760

2021
4,594

 
45

 
4,639

2022
3,801

 

 
3,801

2023
1,767

 

 
1,767

Thereafter
1,600

 

 
1,600

Total lease payments
$
27,039

 
$
1,071

 
$
28,110



Lease terms and discount rates are as follows:
 
June 30, 2019
Weighted-average remaining lease term (years):
 
   Operating lease costs
3.9

   Finance lease cost
1.8

Weighted-average discount rate:
 
   Operating lease costs
5.3
%
   Finance lease cost
3.3
%


For the three and six months ended June 30, 2019, our operating lease costs were $2,602 and $5,200 and are included in "General and administrative expense” on our accompanying condensed consolidated statements of operations. A summary of other lease information is as follows:
 
Three Months Ended June 30, 2019
Six Months Ended June 30, 2019
Financing cash flows from finance leases
$
(421
)
$
(566
)
Operating cash flows from operating leases
(2,707
)
(5,393
)
Amortization of operating leased ROU assets to the operating lease liability
3,131

5,463

ROU assets obtained through operating lease liabilities
1,039

1,282


Leases Leases

Effective January 1, 2019, as described more fully in Note 2, Significant Accounting Policies and Recent Accounting Pronouncements, the Company adopted ASC 842 and recognized lease obligations and associated ROU assets for its existing non-cancelable operating leases. The Company has non-cancelable operating leases primarily associated with office space, related office equipment and other facilities.

The leases expire in various years and generally provide for renewal options. In the normal course of business, management expects that these leases will be renewed or replaced by leases on other properties.
 
Certain operating leases provide for increases in future minimum annual rental payments based on defined increases in the Consumer Price Index, subject to certain minimum increases. Several of these lease agreements contain provisions for periods in which rent payments are reduced. The total amount of rental payments due over the lease term is recorded as rent expense on a straight-line basis over the term of the lease.

A summary of all lease classifications in our condensed consolidated balance sheet is as follows:
Leases
Classification
 
June 30, 2019
Assets
 
 
 
Operating lease assets
Operating lease ROU assets
 
$
19,354

Finance lease assets
Property and equipment, net (1)
 
483

  Total leased assets
 
 
$
19,837

 
 
 
 
Liabilities
 
 
 
Current:
 
 
 
   Operating
Current portion of operating lease liabilities
 
$
6,892

   Finance
Current portion of long-term obligations
 
308

Long-term:
 
 
 
   Operating
Operating lease liabilities, less current portion
 
13,810

   Finance
Long-term obligations, less current portion
 
199

  Total lease liabilities
 
 
$
21,209

(1) Finance leased assets are recorded net of accumulated amortization of $208.

As of June 30, 2019, maturities of lease liabilities are as follows:
 
Operating Leases
 
Finance Leases
 
Total
Remainder of 2019
$
5,468

 
$
161

 
$
5,629

2020
8,328

 
322

 
8,650

2021
5,733

 
45

 
5,778

2022
4,742

 

 
4,742

2023
2,704

 

 
2,704

Thereafter
2,118

 

 
2,118

Total lease payments
29,093

 
528

 
29,621

Less: interest and accretion
(8,391
)
 
(21
)
 
(8,412
)
Present value of minimum lease payments
20,702

 
507

 
21,209

Less: current portion
(6,892
)
 
(308
)
 
(7,200
)
Long-term portion
$
13,810

 
$
199

 
$
14,009



As of December 31, 2018, maturities of lease liabilities are as follows:
 
Operating Leases
 
Finance Leases
 
Total
2019
$
8,825

 
$
718

 
$
9,543

2020
6,452

 
308

 
6,760

2021
4,594

 
45

 
4,639

2022
3,801

 

 
3,801

2023
1,767

 

 
1,767

Thereafter
1,600

 

 
1,600

Total lease payments
$
27,039

 
$
1,071

 
$
28,110



Lease terms and discount rates are as follows:
 
June 30, 2019
Weighted-average remaining lease term (years):
 
   Operating lease costs
3.9

   Finance lease cost
1.8

Weighted-average discount rate:
 
   Operating lease costs
5.3
%
   Finance lease cost
3.3
%


For the three and six months ended June 30, 2019, our operating lease costs were $2,602 and $5,200 and are included in "General and administrative expense” on our accompanying condensed consolidated statements of operations. A summary of other lease information is as follows:
 
Three Months Ended June 30, 2019
Six Months Ended June 30, 2019
Financing cash flows from finance leases
$
(421
)
$
(566
)
Operating cash flows from operating leases
(2,707
)
(5,393
)
Amortization of operating leased ROU assets to the operating lease liability
3,131

5,463

ROU assets obtained through operating lease liabilities
1,039

1,282