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 nine total operating leases which relate to both 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 and nine months ended September 30, 2019 is as follows:



	For the Three Months ended September 30, 2019		For the Nine Months ended September 30, 2019
Operating lease cost	$	171	$	514
Short-term lease cost	1		135
Total lease cost	$	172	$	649

The weighted average remaining lease term was 4.33 years as of September 30, 2019. The weighted average discount rate was 3.52% as of September 30, 2019.

Remaining maturities of our existing lease liabilities as of September 30, 2019 were as follows:



Year Ending December 31,	Operating Leases
2019 (excluding the nine months ended September 30, 2019)	$	160
2020	310
2021	218
2022	165
2023	152
Thereafter	196
Total lease payments	$	1,201
Less imputed interest	(110		)
Total	$	1,091

The following is the balance sheet classification of our existing lease liabilities as of September 30, 2019:



Operating lease liabilities - current	$	376
Operating lease liabilities - non-current	715
Total operating lease liabilities	$	1,091

Supplemental cash flow information related to leases was as follows:

For the Three Months ended September 30, 2019

For the Nine Months ended September 30, 2019

Cash paid for amounts included in the measurement of lease liabilities

Leased assets obtained in exchange for operating lease liabilities