Leases (Tables)

3 Months Ended

Mar. 31, 2019

The following table shows the components of lease expense.



(in thousands)	Three Months Ended March 31,
	2019
Operating lease cost	$	187

Lessee, Supplemental Cash Flow

The following table shows supplemental cash flow information related to leases.



(in thousands)	Three Months Ended March 31,
	2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	200

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	—

Lessee, Supplemental Balance Sheet

The following table shows the operating leases’ impact on the condensed consolidated balance sheets. The Company elected not to include short-term leases (leases with original terms of 12 months or less) or equipment leases, as those amounts are insignificant. The Company’s leases do not provide an implicit rate. The discount rate utilized to determine the present value of lease payments is the Company’s incremental borrowing rate based on the information available at the lease inception date. The incremental borrowing rate is the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term in an amount equal to the lease payments in a similar economic environment.



(dollars in thousands)
	March 31, 2019
Operating lease right-of-use assets	$	1,920
Operating lease liabilities	1,920

Weighted average remaining lease term (years)
Operating leases	3.0

Weighted average discount rate
Operating leases	1.9		%

Lessee, Operating Lease, Liability, Maturity

The following table shows the future minimum payments of operating leases with initial or remaining terms of one year or more as of March 31, 2019.



(in thousands)
Twelve months ended March 31,
2020	$	750
2021	718
2022	225
2023	230
2024	58
Thereafter	—
Total lease payments	1,981
Less imputed interest	(83		)
Total	$	1,898