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LEASES (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Summary of balance sheet presentation of our operating and finance leases

 

 

 

 

 

 

 

 

(dollars in thousands)

Classification on the Condensed Consolidated Balance Sheet

 

March 31, 2020

 

December 31, 2019

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

Operating lease assets

Operating lease right-of-use assets, net

 

$

463

 

$

519

Finance lease assets

Property and equipment, net

 

 

167

 

 

184

Total lease assets

 

 

$

630

 

$

703

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

Current:

 

 

 

 

 

 

 

Operating lease obligations

Current maturities of operating lease liabilities

 

$

212

 

$

209

Finance lease obligations

Current maturities of finance lease liabilities

 

 

36

 

 

52

Noncurrent:

 

 

 

 

 

 

 

Operating lease obligations

Operating lease liabilities, less current maturities

 

 

263

 

 

317

Finance lease obligations

Finance lease liabilities, less current maturities

 

 

112

 

 

119

Total lease liabilities

 

 

$

623

 

$

697

 

Summary of estimated future minimum lease payments for finance leases

As of March 31, 2020 and December 31, 2019, the estimated future minimum lease payments, excluding non-lease components, are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

(dollars in thousands)

    

Operating Leases

 

Finance Leases

 

 

 

March 31,

 

 

December 31,

 

 

March 31,

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

2020

 

 

2019

2020

 

$

181

 

$

242

 

$

36

 

$

62

2021

 

 

241

 

 

241

 

 

38

 

 

38

2022

 

 

48

 

 

48

 

 

32

 

 

32

2023

 

 

35

 

 

35

 

 

28

 

 

28

2024

 

 

17

 

 

17

 

 

27

 

 

27

Thereafter

 

 

 —

 

 

 —

 

 

13

 

 

13

Total lease obligations

 

 

522

 

 

583

 

 

174

 

 

200

Less: Amount representing interest

 

 

(47)

 

 

(57)

 

 

(26)

 

 

(29)

Present value of net minimum lease obligations

 

 

475

 

 

526

 

 

148

 

 

171

Less, current portion

 

 

(212)

 

 

(209)

 

 

(36)

 

 

(52)

Long term portion

 

$

263

 

$

317

 

$

112

 

$

119

 

Schedule of other information

 

 

 

 

 

March 31,

 

December 31,

 

2020

 

2019

Weighted-average remaining lease term (years):

 

 

 

Operating leases

2.4

 

2.8

Finance leases

4.5

 

4.3

Weighted-average discount rate:

 

 

 

Operating leases

8.00%

 

8.00%

Finance leases

7.25%

 

7.25%