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

As of September 30, 2020, operating lease assets were $24.8 million and operating lease liabilities were $28.9 million. The maturity of the Company’s operating lease liabilities as of September 30, 2020 are as follows:

 

 

 

Minimum Lease

 

Years Ending December 31:

 

Payments

 

2020 (October 1 – December 31)

 

$

731

 

2021

 

 

4,055

 

2022

 

 

3,782

 

2023

 

 

3,696

 

2024

 

 

3,725

 

Thereafter

 

 

17,759

 

Total future minimum lease payments

 

$

33,748

 

Less imputed interest

 

 

4,872

 

Total operating lease liabilities

 

$

28,876

 

 

Included in the Consolidated Balance Sheet:

 

 

 

 

Current operating lease liabilities

 

$

2,829

 

Non-current operating lease liabilities

 

 

26,047

 

Total operating lease liabilities

 

$

28,876

 

Summary of Lease Costs

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

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30, 2020

 

September 30, 2019

 

 

September 30, 2020

 

September 30, 2019

 

Operating lease expense

 

$

988

 

$

964

 

 

$

2,881

 

$

2,914

 

Short-term lease expense

 

 

13

 

 

22

 

 

 

67

 

 

64

 

Total lease expense

 

$

1,001

 

$

986

 

 

$

2,948

 

$

2,978

 

Lessee Operating Lease Term and Discount Rate

The following summarizes additional information related to operating leases:

 

 

As of

 

 

 

September 30, 2020

 

Weighted-average remaining lease term — operating leases

 

 

5.1

 

Weighted-average discount rate — operating leases

 

 

4

%