Leases (Notes)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Lessee, Operating Leases [Text Block]

. Leases

Lessee arrangements

As of December 31, 2020, the Company has an operating lease for corporate offices. The Company’s operating lease has a remaining lease term of two years, with an option to extend the lease for up to six months.

Prior to the sale of Noden and the spin-off of LENSAR, the Company also included operating leases for their corporate offices and certain equipment.

The components of lease expense from continuing operations under the Going Concern Basis were as follows:

	Eight Months Ended		Year Ended
(in thousands)	August 31, 2020		December 31, 2019
Operating lease cost	$	532	$	760
Short-term lease cost	49		79
Total lease cost	$	581	$	839

Supplemental cash flow information related to leases for continuing operations is as follows:

	Eight Months Ended		Year Ended
(in thousands)	August 31, 2020		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	522	$	762
Right-of-use-assets obtained in exchange for lease obligations:
Operating leases	$	3,320	$	2,055

The following table presents the lease balances relating to continuing operations within the Consolidated Balance Sheet, weighted-average remaining lease term, and weighted-average discount rates related to the Company’s operating leases (in thousands):

Operating Leases	Classification	December 31, 2019
Operating lease ROU assets	Other assets	$	1,359
Operating lease liabilities, current	Accrued liabilities	$	760
Operating lease liabilities, long-term	Other long-term liabilities	634
Total operating lease liabilities	Total operating lease liabilities	$	1,394
Weighted-average remaining lease term		1.9 years
Weighted-average discount rate		6.5		%

_______________

Operating leases above exclude right of use assets and liabilities of $0.3 million classified as held for sale in the Consolidated Balance Sheet as of December 31, 2019.

Maturities of operating lease liabilities as of December 31, 2020 are as follows (in thousands):

Fiscal Year	Amount
2021	$	37
2022	38
2023	—
2024	—
2025	—
Thereafter	—
Total operating lease payments	75
Less: imputed interest	—
Total operating lease liabilities	$	75

Lessor arrangements

The Company had operating leases for medical device equipment generated from its Medical Devices segment. The Company’s leases had remaining lease terms of less than one to four years, some of which included options to extend the leases on a month-to-month basis if the customer did not notify the Company of the intention to return the equipment at the end of the lease term. The Company typically did not offer options to terminate the leases before the end of the lease term. The Medical Devices segment was spun-off on October 1, 2020.

The components of lease income under the Going Concern Basis were as follows:

		Eight Months Ended		Year Ended
(in thousands)	Classification	August 31, 2020		December 31, 2019
Operating lease income	Lease revenue	$	2,139	$	5,072

Under the Going Concern Basis, and prior to the spin-off of LENSAR, Equipment under lease was stated at cost less accumulated depreciation and was classified as Property and equipment, net on the Consolidated Balance Sheet. Depreciation was computed using the straight-line method over an estimated useful life of the greater of the lease term or five years to ten years. Equipment under lease was as follows:

(in thousands)	December 31, 2019
Equipment under lease	$	6,652
Less accumulated depreciation	(5,231)
Equipment under lease, net	$	1,421

Depreciation expense on equipment under lease amounted to $1.0 million, $2.1 million and $2.7 million for the eight months ended August 31, 2020 and the years ended December 31, 2019 and 2018, respectively.