Leases (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Scheduled Future Minimum Lease Payments Under Operating Leases

As of June 30, 2019, Cars.com’s scheduled future minimum lease payments under operating leases having initial or remaining noncancelable lease terms of more than one year, were as follows (in thousands):

Remaining six months of 2019	$	1,509
2020		4,368
2021		4,014
2022		3,751
2023		3,850
Thereafter		35,117
Total minimum lease payments		52,609
Less: Imputed interest (1)		(18,781	)
Present value of the minimum lease payments		33,828
Less: Current maturities of lease obligations		(1,553	)
Long-term lease obligations	$	32,275

(1) The Company’s lease agreements do not provide a readily determinable implicit rate nor is it available from the Company’s lessors. Therefore, in order to discount lease payments to present value, the Company has estimated its incremental borrowing rate based on information available at either the lease transition date (for those leases that commenced prior to January 1, 2019) or the lease commencement date (for those leases that commenced after January 1, 2019).

Other Information Related to Operating Leases

Other information related to the Company’s operating leases for the three and six months ended June 30, 2019 is as follows (in thousands, except percentage):

Income statement information:
	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Operating lease cost	$	972	$	1,930
Short-term lease cost		339		720
Variable lease cost		974		1,968
Total lease cost	$	2,285	$	4,618

Other information:
Cash paid for operating leases for the six months ended June 30, 2019	$	2,126
Weighted-average remaining lease term (in months) as of June 30, 2019		136
Weighted-average discount rate as of June 30, 2019		7.4	%