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Leases and Contingencies (Tables)
6 Months Ended
Jun. 30, 2020
Lessee Disclosure [Abstract]  
Summary of Maturity of Operating Lease Liabilities

As of June 30, 2020, operating lease assets were $25.5 million and operating lease liabilities were $29.6 million. The maturity of the Company’s operating lease liabilities as of June 30, 2020 are as follows:

 

 

 

Minimum Lease

 

Years Ending December 31:

 

Payments

 

2020 (June 30 – December 31)

 

$

2,063

 

2021

 

 

4,132

 

2022

 

 

3,778

 

2023

 

 

3,696

 

2024

 

 

3,725

 

Thereafter

 

 

17,760

 

Total future minimum lease payments

 

$

35,154

 

Less imputed interest

 

 

5,540

 

Total operating lease liabilities

 

$

29,614

 

 

Included in the Consolidated Balance Sheet:

 

 

 

 

Current operating lease liabilities

 

$

2,769

 

Non-current operating lease liabilities

 

 

26,845

 

Total operating lease liabilities

 

$

29,614

 

Summary of Lease Costs

For the three and six months ended June 30, 2020 and 2019, the total lease cost is comprised of the following amounts:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30, 2020

 

June 30, 2019

 

 

June 30, 2020

 

June 30, 2019

 

Operating lease expense

 

$

946

 

$

975

 

 

$

1,893

 

$

1,950

 

Short-term lease expense

 

 

26

 

 

21

 

 

 

54

 

 

42

 

Total lease expense

 

$

972

 

$

996

 

 

$

1,947

 

$

1,992

 

Lessee Operating Lease Term and Discount Rate

The following summarizes additional information related to operating leases:

 

 

As of

 

 

 

June 30, 2020

 

Weighted-average remaining lease term — operating leases

 

 

5.1

 

Weighted-average discount rate — operating leases

 

 

4

%