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Leases
 6 Months Ended
Jun. 30, 2021
Leases [Abstract]  
Leases Leases
During the first quarter of 2020, the Company ceased use of the corporate headquarters leased offices and moved corporate employees to the Global Research and Innovation Center (“GRIC”) during the second quarter of 2020. In addition, the lease liability and corresponding right-of-use (“ROU”) assets for the corporate headquarters and GRIC were remeasured to remove the anticipated term extensions as the Company determined it was no longer reasonably certain to utilize the extension at the GRIC. The remeasurement resulted in adjustments to lease liabilities and ROU assets totaling of $6.2 million each as of March 31, 2020. During the second quarter of 2020, the Company terminated the lease of the corporate headquarters office and moved all employees to the GRIC facility effective June 29, 2020.
In addition, during the three months ended March 31, 2020, the Company recorded an impairment of the ROU assets totaling $7.4 million. For further discussion, refer to Note 8, “Impairment of Fixed and Long-lived Assets.” No impairment was recognized for the three and six months ended June 30, 2021.
The components of lease expense and supplemental cash flow information are as follows (in thousands):
Three months ended June 30,Six months ended June 30,
2021202020212020
Operating lease expense$250 $283 $488 $854 
Finance lease expense:
Amortization of right-of-use assets4 4 7 9 
Interest on lease liabilities3 5 6 9 
Total finance lease expense 7 9 13 18 
Short-term lease expense61 54 55 86 
Total lease expense$318 $346 $556 $958 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$394 $1,411 $727 $1,024 
Operating cash flows from finance leases43 5 53 9 
Financing cash flows from finance leases3 14 29 51 
Maturities of lease liabilities are as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2021 (excluding the six months ended June 30, 2021)$581 $35 
20221,256 47 
20231,321 39 
20241,351 25 
20251,378 — 
Thereafter6,891 — 
Total lease payments$12,778 $146 
Less: Interest(4,178)(19)
Present value of lease liabilities$8,600 $127 
Supplemental balance sheet information related to leases is as follows (in thousands):
June 30, 2021December 31, 2020
Operating Leases
Operating lease right-of-use assets$2,162 $2,320 
Current portion of operating lease liabilities$589 $636 
Long-term operating lease liabilities8,011 8,348 
Total operating lease liabilities$8,600 $8,984 
Finance Leases
Property and equipment$147 $147 
Accumulated depreciation(33)(26)
Property and equipment, net$114 $121 
Current portion of finance lease liabilities$55 $60 
Long-term finance lease liabilities72 96 
Total finance lease liabilities$127 $156 
Weighted Average Remaining Lease Term
Operating leases9.3 years9.9 years
Finance leases3.1 years3.1 years
Weighted Average Discount Rate
Operating leases4.5 %8.9 %
Finance leases8.5 %9.0 %
Leases Leases
During the first quarter of 2020, the Company ceased use of the corporate headquarters leased offices and moved corporate employees to the Global Research and Innovation Center (“GRIC”) during the second quarter of 2020. In addition, the lease liability and corresponding right-of-use (“ROU”) assets for the corporate headquarters and GRIC were remeasured to remove the anticipated term extensions as the Company determined it was no longer reasonably certain to utilize the extension at the GRIC. The remeasurement resulted in adjustments to lease liabilities and ROU assets totaling of $6.2 million each as of March 31, 2020. During the second quarter of 2020, the Company terminated the lease of the corporate headquarters office and moved all employees to the GRIC facility effective June 29, 2020.
In addition, during the three months ended March 31, 2020, the Company recorded an impairment of the ROU assets totaling $7.4 million. For further discussion, refer to Note 8, “Impairment of Fixed and Long-lived Assets.” No impairment was recognized for the three and six months ended June 30, 2021.
The components of lease expense and supplemental cash flow information are as follows (in thousands):
Three months ended June 30,Six months ended June 30,
2021202020212020
Operating lease expense$250 $283 $488 $854 
Finance lease expense:
Amortization of right-of-use assets4 4 7 9 
Interest on lease liabilities3 5 6 9 
Total finance lease expense 7 9 13 18 
Short-term lease expense61 54 55 86 
Total lease expense$318 $346 $556 $958 
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$394 $1,411 $727 $1,024 
Operating cash flows from finance leases43 5 53 9 
Financing cash flows from finance leases3 14 29 51 
Maturities of lease liabilities are as follows (in thousands):
Years ending December 31,Operating LeasesFinance Leases
2021 (excluding the six months ended June 30, 2021)$581 $35 
20221,256 47 
20231,321 39 
20241,351 25 
20251,378 — 
Thereafter6,891 — 
Total lease payments$12,778 $146 
Less: Interest(4,178)(19)
Present value of lease liabilities$8,600 $127 
Supplemental balance sheet information related to leases is as follows (in thousands):
June 30, 2021December 31, 2020
Operating Leases
Operating lease right-of-use assets$2,162 $2,320 
Current portion of operating lease liabilities$589 $636 
Long-term operating lease liabilities8,011 8,348 
Total operating lease liabilities$8,600 $8,984 
Finance Leases
Property and equipment$147 $147 
Accumulated depreciation(33)(26)
Property and equipment, net$114 $121 
Current portion of finance lease liabilities$55 $60 
Long-term finance lease liabilities72 96 
Total finance lease liabilities$127 $156 
Weighted Average Remaining Lease Term
Operating leases9.3 years9.9 years
Finance leases3.1 years3.1 years
Weighted Average Discount Rate
Operating leases4.5 %8.9 %
Finance leases8.5 %9.0 %