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Leases (Tables)

6 Months Ended

Jun. 30, 2019

Lessee Operating Leases

The components of the Company's operating lease expense are as follows:



	Three Months Ended June 30,		Six Months Ended June 30,
	2019		2019
Lease cost:
Operating lease expense^(a)	$	162	$	323
Variable lease expense^(b)	33		65
Total lease expense^(c)	$	195	$	388


(a)	Represents the Company's operating lease expense related to its ROU assets for both the three and six months ended June 30, 2019.


(b)	Represents the Company's expense related to contingent payments for operating leases (such as payments based on revenues derived from the communications infrastructure located on the leased asset) for both the three and six months ended June 30, 2019. Such contingencies are recognized as expense in the period they are resolved.

(c)

Excludes those direct operating expenses accounted for pursuant to accounting guidance outside the scope of ASC 842.

Lease Maturities (5 year table)

The following table is a summary of the Company's maturities of operating lease liabilities as of June 30, 2019:



	Six months ending December 31,		Years ending December 31,
	2019		2020		2021		2022		2023		Thereafter		Total undiscounted lease payments		Less: Imputed interest			Total operating lease liabilities
Operating leases^(a)	$	270	$	532	$	526	$	521	$	516	$	6,456	$	8,821	$	(3,105	)	$	5,716

(a)

Excludes the Company's contingent payments for operating leases (such as payments based on revenues derived from the communications infrastructure located on the leased asset) as such arrangements are excluded from the Company's operating lease liability. Such contingencies are recognized as expense in the period they are resolved.

Schedule of Rent Expense

The operating lease payments included in the table below include payments for certain renewal periods at the Company's option that are deemed reasonably assured to be exercised and an estimate of contingent payments based on revenues and gross margins derived from existing tenant leases.



	Years ending December 31,
	2019		2020		2021		2022		2023		Thereafter		Total
Operating leases	$	640	$	631	$	628	$	623	$	619	$	8,054	$	11,195