In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-02, requiring most leases to be recognized by lessees on their balance sheets as right-of-use (“ROU”) assets, along with corresponding lease liabilities. ASU 2016-02 is effective for annual periods beginning after December 31, 2018 and interim periods within that year, with early adoption permitted. We adopted ASU 2016-02 effective January 1, 2019 and elected the modified retrospective transition method, recording a cumulative-effect adjustment as of that date and presenting comparative prior year periods in accordance with Accounting Standards Codification Topic 840. On the date of adoption, we recorded a cumulative adjustment to recognize new net lease liabilities of $1.7 million and new ROU assets of $1.2 million, for operating leases on our consolidated balance sheets, based on the present value of remaining rental payments for existing operating leases. As part of adoption, we also de-recognized $0.5 million in deferred rent. Adoption of the standard did not have a material impact on our statement of operations or statement of cash flows. As part of adoption, we elected the short-term lease recognition exemption for our facility rental and equipment leases (all leases that qualified), which means that we did not recognize ROU assets or lease liabilities for existing short-term leases (leases of 12-months or less) as of the January 1, 2019 adoption date. In addition, when adopting ASU 2016-02 we applied the following practical expedients to forego assessing:

We determine if an arrangement is a lease at inception. On our balance sheet, our office leases are included in ROU assets and related lease liabilities are included in the Operating lease, current portion and Operating lease statement line items. We determined that we do not currently have any leases that we are required to classify as finance leases.

ROU assets represent our right to use the underlying assets for the lease term and operating lease liabilities represent our obligation to make lease payments arising from the lease agreements. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the term of the lease. For leases that do not provide an implicit rate, we use an incremental borrowing rate based on information available at the commencement date to determine the present value of lease payments. We will use the implicit rate in the lease when readily determinable. Lease expense for lease payments is recognized on a straight-line basis over the lease term.

Our leases have remaining terms of one to four years. The only leases that contain renewal options are for office space leases at our Bellevue and Taiwan locations. However, because of changes in our business, we are not able to determine with reasonable certainty whether either or both of these leases will be renewed. As a result, we have not considered renewal options when recording ROU assets, lease liabilities or lease expense.

	Three months ended
Total component lease expense was as follows (in thousands):	March 31, 2019
Operating leases	$	348
Supplemental cash flow information related to leases was as follows (in thousands):
Cash paid for amounts included in the measurement of lease liabilities	$	429
Supplemental balance sheet information related to leases was as follows (dollars in thousands):	March 31, 2019
Operating leases:
Right of use	$	1,089
Current portion of operating lease liability	$	1,131
Operating lease liability, net of current portion		374
Total operating lease liabilities	$	1,505
Weighted Average Remaining Lease Term	1.4 years
Weighted Average Discount Rate		7.0	%

As of March 31, 2019, maturities of lease liabilities were as follows:	Operating leases
Years Ended December 31,
Remainder of 2019	$	900
2020		624
2021		61
Total minimum lease payments		1,585
Less: amount representing interest		(80	)
Present value of lease liabilities	$	1,505