Leases

9 Months Ended

Sep. 30, 2021

Leases

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 September 30, 2021, the operating lease right-of-use “ROU” asset had a balance of $1,679 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 $521 and $1,385, 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 September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Components of lease cost
Finance lease cost components:
Amortization of finance lease assets	$	13	$	17	$	41	$	54
Interest on finance lease liabilities		4		9		15		30
Total finance lease costs	$	17	$	26	$	56	$	84
Operating lease cost components:
Operating lease cost	$	144	$	140	$	434	$	425
Variable lease cost		31		27		91		81
Short-term lease cost		11		10		32		12
Total operating lease costs		186		177		557		518
Total lease cost	$	203	$	203	$	613	$	602

Supplemental cash flow information related to leases is as follows for the nine-month period ended September 30:

	2021			2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflow from operating leases	$	554		$	518
Weighted-average remaining lease term-finance leases (in years)		0.9			1.9
Weighted-average remaining lease term-operating leases (in years)		3.2			3.4
Weighted-average discount rate-finance leases		9.3	%		9.3	%
Weighted-average discount rate-operating leases		14.1	%		14.3	%

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

	Finance Leases			Operating Leases			Total
2021	$	47		$	187		$	234
2022		109			761			870
2023		6			747			753
2024		—			636			636
2025		—			43			43
2026 and thereafter		—			2			2
Total payments	$	162		$	2,376		$	2,538
Less amounts representing interest		(8	)		(470	)		(478	)
Total minimum payments required:	$	154		$	1,906		$	2,060

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

	Finance Leases			Operating Leases			Total
2020	$	63		$	172		$	235
2021		196			701			897
2022		109			720			829
2023		5			705			710
2024		—			595			595
2025 and thereafter		—			1			1
Total payments	$	373		$	2,894		$	3,267
Less amounts representing interest		(39	)		(717	)		(756	)
Total minimum payments required:	$	334		$	2,177		$	2,511