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Leases
3 Months Ended
Mar. 31, 2021
Leases [Abstract]  
Leases

11. Leases

The Company accounts for leases in accordance with ASC 842, “Leases.The Company leases its corporate office in Beaverton, Oregon. In July 2015, the Company entered into an amendment with the landlord of its corporate office to extend the lease term through March 2024, with remaining rent payments as of March 31, 2021, totaling $2,504, payable in monthly installments.

All of the Company’s leases are operating leases.  The following table provides additional details of leases presented in the Consolidated Balance Sheets:

 

 

March 31,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Right of use assets

 

$

1,675

 

 

$

1,793

 

Lease liabilities, current

 

$

683

 

 

$

663

 

Lease liabilities, long-term

 

$

1,594

 

 

$

1,772

 

 

 

 

 

 

 

 

 

 

Weighted-average remaining life

 

3.0 years

 

 

3.2 years

 

Weighted-average discount rate

 

 

8.20

%

 

 

8.20

%

The carrying value of the right of use assets is included in “Other assets” and the current and long-term lease liabilities are included in “Accounts payable and other accrued liabilities” and “Lease liability and other long-term liabilities,” respectively, in the Consolidated Balance Sheets.

Operating lease expense is included in cost of revenue and operating expenses in the Consolidated Statements of Operations and in cash flows from operating activities in the Consolidated Statements of Cash Flows.  The operating leases include variable lease payments which are not material and are included in operating lease expense.  Additional details of the Company’s operating leases are presented in the following table:

 

 

Three

 

 

Three

 

 

 

Months

 

 

Months

 

 

 

Ended

 

 

Ended

 

 

 

March 31,

 

 

March 31,

 

 

 

2021

 

 

2020

 

Operating lease expense

 

$

257

 

 

$

263

 

Cash paid for operating leases

 

$

297

 

 

$

327

 

The table below reconciles the cash payment obligations for the first five years and total of the remaining years for the operating lease liability recorded in the Consolidated Balance Sheet as of March 31, 2021:

 

 

Cash

 

 

 

Payment

 

Year ending December 31:

 

Obligations

 

Remaining in 2021

 

$

631

 

2022

 

 

862

 

2023

 

 

867

 

2024

 

 

218

 

2025

 

 

 

Thereafter

 

 

 

Total lease payments

 

 

2,578

 

Imputed interest

 

 

(301

)

Total minimum lease payments

 

$

2,277