Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Note 18. Leases

Right-of-use (“ROU”) assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date.  The Company’s lease payments are typically fixed or contain fixed escalators.  The Company’s leases typically include certain lock-in periods and renewal options to extend the leases, but does not consider options to extend the lease it is not reasonably certain to exercise.  The Company elected the practical expedient to not separate the lease and non-lease components of its leases and currently has no leases with options to purchase the leased property.

The components of lease expense were as follows and are included in general and administrative expense (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2020		2019		2020
Operating lease cost	$	588	$	648	$	1,177	$	1,292
Short-term lease cost		31		122		90		149
Variable lease costs		98		106		199		215
Total lease expense	$	717	$	876	$	1,466	$	1,656

Supplemental balance sheet information related to leases were as follows (in thousands, except lease term and discount rate):

	Balance Sheet Caption	December 31, 2019			June 30, 2020
Operating leases:
Operating lease assets	Operating lease assets	$	6,872		$	5,991
Current lease liabilities	Other current liabilities	$	2,125		$	2,260
Noncurrent lease liabilities	Noncurrent operating lease liabilities	$	5,335		$	4,176
Weighted average remaining lease    term (years):
Operating leases			3.98			3.58
Weighted average discount rate:
Operating leases			8.50	%		8.36	%

Supplemental cash flow information related to leases were as follows (in thousands):

	Six Months Ended June 30,
	2019		2020
Supplemental cash flow information:
Cash paid for amounts included in the measurement    of lease liabilities	$	1,189	$	1,273

The Company’s lease terms range from one to seven years and may include options to extend the lease by one to four years.

Remaining maturities on lease liabilities as of June 30, 2020 is as follows (unaudited and in thousands):

	Operating leases
2020 (excludes the six months ended June 30, 2020)	$	1,357
2021		2,484
2022		1,384
2023		1,291
2024		536
Thereafter		445
Total lease payments		7,497
Less:  interest		1,061
Present value of lease liabilities	$	6,436

As of June 30, 2020, the Company does not have any additional leases for new office facilities that have not yet commenced.