Leases

3 Months Ended

Mar. 31, 2021

Leases [Abstract]

Leases

Note 8. Leases

We have entered into leases for our corporate headquarters and office equipment with remaining lease terms up to 10 years. Some of these leases include both lease and nonlease components, which are accounted for as a single lease component as we have elected the practical expedient to combine these components for all leases. 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:

	Three Months Ended March 31, 2021
Operating lease information:
Operating lease cost	$	105
Operating cash flows from operating leases		105
Net assets obtained in exchange for new operating lease liabilities		3,156
Weighted average remaining lease term in years		9.63
Weighted average discount rate		5.1	%

Future minimum annual lease payments are as follows:

Remainder of 2021	$	306
2022		399
2023		406
2024		413
2025		420
Thereafter		2,166
Total minimum lease payments	$	4,110
Less imputed interest		(893	)
Total operating lease liability	$	3,217