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Leases
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Leases

(11)LEASES

We have operating leases for office space and processing facilities with remaining lease terms ranging from less than one year to approximately five years. As most of the leases do not provide an implicit rate, we calculated the right-of-use assets and lease liabilities using our secured incremental borrowing rate at the lease commencement date. We currently do not have any finance leases outstanding.

Information related to leases was as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

 

 

March 31,

 

 

    

2020

 

    

2019

 

Operating lease information:

 

 

 

 

 

 

 

 

Operating cash outflows from operating leases

 

$

87

 

 

$

79

 

Weighted average remaining lease term in years

 

 

3.92

 

 

 

4.26

 

Weighted average discount rate

 

 

6.0

%

 

 

6.0

%

 

Future minimum lease payments under non-cancellable leases as of March 31, 2020 were as follows:

 

 

 

 

Year

    

Amount

 

 

 (In thousands)

2020

 

$

148

2021

 

 

201

2022

 

 

206

2023

 

 

174

2024

 

 

59

Total minimum lease payments

 

$

788

Less imputed interest

 

 

(65)

 

 

 

 

Total operating lease liability

 

$

723

 

 

 

 

As reflected on balance sheet:

 

 

 

Other long-term liabilities

 

$

723

 

 

 

 

 

At March 31, 2020, and December 31, 2019, respectively, we had approximately $723,000 and $800,000, right-of-use operating lease assets recorded within “buildings and equipment” on the condensed consolidated balance sheets.