Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases

Schedule of Minimum Annual Rental Commitments

We have no financing leases and minimum annual rental commitments under non-cancellable operating leases consisted of the following at September 30, 2020 (in thousands):

Years Ending December 31,
2020 (a)	$	438
2021		1,710
2022		1,552
2023		1,226
2024		892
Thereafter		1,911
Total lease payments (b)		7,729
Less: Interest (c)		1,134
Present value of lease liabilities (d)	$	6,595

(a) Remaining payments are for the three-months ending December 31, 2020

(b) Lease payments include options to extend lease terms that are reasonably certain of being exercised. There were no legally binding minimum lease payments for leases signed but not yet commenced at September 30, 2020.

(c) Our leases do not provide a readily determinable implicit rate. Therefore, we must estimate our discount rate for such leases to determine the present value of lease payments at the lease commencement date.

(d) The weighted average remaining lease term and weighted average discount rate used in calculating our lease liabilities were 6.5 years and 4.5%, respectively, at September 30, 2020.