Leases

Adoption of ASC 842, "Leases"

On January 1, 2019, we adopted ASC 842 using the modified retrospective method outlined in ASU 2018-11 "Leases (Topic 842) Targeted Improvements." Results for reporting periods beginning after January 1, 2019 are presented under ASC 842, while prior period amounts are not adjusted and continue to be reported in accordance with our legacy accounting under Accounting Standards Codification Topic 840: Leases (ASC 840). The Company recorded the transition to ASC 842 by recognizing a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented.

We have elected the package of practical expedients permitted under the transition guidance, which among other things, allow us to carry forward the historical accounting relating to lease identification and classification for existing leases upon adoption. We have also elected the practical expedient to not separate lease and non-lease components for the majority of our leases and the election to keep leases with an initial term of 12 months or less off of the consolidated balance sheet.

The cumulative effect of the changes made to our January 1, 2019 consolidated balance sheet for the adoption of ASC 842 were as follows:



	Balance at December 31, 2018			Adjustments Upon Adoption of ASC 842			Balance at January 1, 2019
Assets
Right-of-use operating lease assets	$	—		$	1,592		$	1,592
Liabilities
Other accrued liabilities	6,099			(22		)	6,077
Operating lease liabilities - current	—			650			650
Operating lease liabilities - non-current	—			942			942
Equity
Accumulated deficit	(102,495		)	22			(102,473		)

The adjustment made to the January 1, 2019 consolidated balance sheet related to an accrued liability for lease escalation clauses in certain of our leases under ASC 840 which is a cumulative-effect adjustment to the opening balance of accumulated deficit upon the adoption of ASC 842.

Leases

We have operating leases for eight leased office space locations and certain office equipment. Our leases have remaining lease terms of 1 year to 6 years. Our leases do not contain any material residual value guarantees or material restricted covenants and we currently have no material sublease arrangements. We have no financing leases as defined under ASC 842.

Total operating lease expense for the three-months ended March 31, 2019 is as follows:



	For the three months ended March 31, 2019
Operating lease cost	$	172
Short-term lease cost	68
Total lease cost	$	240

The weighted average remaining lease term was 4.25 years as of March 31, 2019. The weighted average discount rate was 3.73% as of March 31, 2019.

Remaining maturities of our existing lease liabilities as of March 31, 2019 were as follows:



Year Ending December 31,	Operating Leases
2019 (excluding the three months ended March 31, 2019)	$	491
2020	306
2021	214
2022	157
2023	148
Thereafter	197
Total lease payments	$	1,513
Less imputed interest	(110		)
Total	$	1,403

The following is the balance sheet classification of our existing lease liabilities as of March 31, 2019:



Operating lease liabilities - current	$	558
Operating lease liabilities - non-current	845
Total operating lease liabilities	$	1,403

Supplemental cash flow information related to leases was as follows:



	For the three months ended March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	171
Leased assets obtained in exchange for new operating lease liabilities	163