Leases

6 Months Ended

Jun. 30, 2021

Leases [Abstract]

Leases

(9) Leases

The Company’s operating lease portfolio is comprised of operating leases for office, warehouse space and equipment. Certain of the Company’s leases include one or more options to renew or terminate the lease at the Company’s discretion. The Company regularly evaluates the renewal and termination options and when they are reasonably certain of exercise, includes the renewal or termination option in our lease term.

As of June 30, 2021, the operating lease right-of-use “ROU” asset had a balance of $1,785 which is included in the “Operating lease right-of-use assets” line item of these condensed consolidated financial statements and current and non-current lease liabilities related to the ROU asset of $499 and $1,523 respectively. As of December 31, 2020, the ROU asset had a balance of $1,827 which is included in the “Operating lease right-of-use assets” line item of these condensed consolidated financial statements and current and non-current lease liabilities related to the ROU asset of $431 and $1,651 respectively. These are included in the “Current portion of operating lease obligations” and “Long-term operating lease obligations, net of current portion” line items of these condensed consolidated financial statements. The discount rates used for leases accounted for under ASC 842 are based on an interest rate yield curve developed for the leases in the Company’s portfolio.

The office leases contain variable lease payments which consist primarily of rent escalations based on an established index or rate and taxes, insurance, and common area or other maintenance costs, which are paid based on actual costs incurred by the lessor.

Quantitative information regarding the Company’s leases is as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
Components of lease cost
Finance lease cost components:
Amortization of finance lease assets	$	14	$	20	$	28	$	37
Interest on finance lease liabilities		5		10		11		21
Total finance lease costs	$	19	$	30	$	39	$	58
Operating lease cost components:
Operating lease cost	$	146	$	145	$	290	$	285
Variable lease cost		29		56		60		83
Short-term lease cost		11		10		21		12
Total operating lease costs		186		211		371		380
Total lease cost	$	205	$	241	$	410	$	438

Supplemental cash flow information related to leases is as follows for the six months period ended June 30:       

	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$	368		$	346
Weighted-average remaining lease term-finance leases (in years)		1.1			1.7
Weighted-average remaining lease term-operating leases (in years)		2.9			2.7
Weighted-average discount rate-finance leases		9.3	%		9.3	%
Weighted-average discount rate-operating leases		13.4	%		14.6	%

The future maturities of the Company’s finance and operating leases as of June 30, 2021 is as follows: 

	Finance Leases			Operating Leases			Total
2021	$	96		$	374		$	470
2022		109			761			870
2023		5			747			752
2024		—			636			636
2025		—			42			42
2026 and thereafter		—			2			2
Total payments	$	210		$	2,562		$	2,772
Less amounts representing interest		(12	)		(540	)		(552	)
Total minimum payments required:	$	198		$	2,022		$	2,220

The future maturities of the Company’s finance and operating leases as of June 30, 2020 is as follows:

	Finance Leases			Operating Leases			Total
2020	$	119		$	344		$	463
2021		196			701			897
2022		109			720			829
2023		5			705			710
2024		—			595			595
2025 and thereafter		—			1			1
Total payments	$	429		$	3,066		$	3,495
Less amounts representing interest		(39	)		(798	)		(837	)
Total minimum payments required:	$	390		$	2,268		$	2,658