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Leases
9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Leases LEASES
The Company’s lessee arrangements consist of agreements to lease certain office facilities and equipment and the Company leases portions of its land to third parties for agriculture or other miscellaneous uses. The Company’s significant agriculture lease agreements are short-term in nature. As of September 30, 2020, all leasing arrangements are classified as operating leases.
The Company’s office leases have remaining lease terms of approximately three years to eight years and include one or more extension options to renew, some of which include options to extend the leases for up to ten years. The Company only includes renewal options in the lease term when it is reasonably certain that it will exercise such options.
The components of lease costs were as follows for the three and nine months ended September 30, 2020 and 2019 (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Operating lease cost$505 $616 $1,611 $1,943 
Related party operating lease cost789 788 2,366 2,355 
Short-term lease cost59 186 367 437 

Supplemental balance sheet information related to leases as of September 30, 2020 and December 31, 2019 were as follows (in thousands, except lease term in years and discount rate):
September 30, 2020December 31, 2019
Operating lease right-of-use assets ($21,458 and $23,047 related party, respectively)
$29,369 $32,579 
Operating lease liabilities ($15,463 and $16,282 related party, respectively)
$24,763 $27,206 
Weighted average remaining lease term (operating lease)6.47.1
Weighted average discount rate (operating lease)5.9 %5.9 %
Operating lease right-of-use assets are included in other assets or related party assets and operating lease liabilities are included in accounts payable and other liabilities or related party liabilities on the condensed consolidated balance sheets.
The table below reconciles the undiscounted cash flows to the operating lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2020 (in thousands):
Years Ending December 31,Rental
Payments
2020 (excluding the nine months ended September 30, 2020)
$1,046 
20215,263 
20225,420 
20235,583 
20242,495 
20252,474 
Thereafter8,096 
Total lease payments$30,377 
Discount$5,614 
Total operating lease liabilities$24,763 
Leases LEASES
The Company’s lessee arrangements consist of agreements to lease certain office facilities and equipment and the Company leases portions of its land to third parties for agriculture or other miscellaneous uses. The Company’s significant agriculture lease agreements are short-term in nature. As of September 30, 2020, all leasing arrangements are classified as operating leases.
The Company’s office leases have remaining lease terms of approximately three years to eight years and include one or more extension options to renew, some of which include options to extend the leases for up to ten years. The Company only includes renewal options in the lease term when it is reasonably certain that it will exercise such options.
The components of lease costs were as follows for the three and nine months ended September 30, 2020 and 2019 (in thousands):
Three Months Ended
September 30,
Nine Months Ended
September 30,
2020201920202019
Operating lease cost$505 $616 $1,611 $1,943 
Related party operating lease cost789 788 2,366 2,355 
Short-term lease cost59 186 367 437 

Supplemental balance sheet information related to leases as of September 30, 2020 and December 31, 2019 were as follows (in thousands, except lease term in years and discount rate):
September 30, 2020December 31, 2019
Operating lease right-of-use assets ($21,458 and $23,047 related party, respectively)
$29,369 $32,579 
Operating lease liabilities ($15,463 and $16,282 related party, respectively)
$24,763 $27,206 
Weighted average remaining lease term (operating lease)6.47.1
Weighted average discount rate (operating lease)5.9 %5.9 %
Operating lease right-of-use assets are included in other assets or related party assets and operating lease liabilities are included in accounts payable and other liabilities or related party liabilities on the condensed consolidated balance sheets.
The table below reconciles the undiscounted cash flows to the operating lease liabilities recorded on the condensed consolidated balance sheet as of September 30, 2020 (in thousands):
Years Ending December 31,Rental
Payments
2020 (excluding the nine months ended September 30, 2020)
$1,046 
20215,263 
20225,420 
20235,583 
20242,495 
20252,474 
Thereafter8,096 
Total lease payments$30,377 
Discount$5,614 
Total operating lease liabilities$24,763