Leases

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Leases

The Company has operating leases for its operating facilities, data center storage facilities and certain data storage equipment in the U.S. and Germany, and finance leases for printers in its German offices. The Company's lease terms include options to extend or terminate the lease and the Company includes these options in the lease term when it is reasonably certain to exercise that option.

The following table sets forth the Company’s lease costs for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Lease costs:
Operating lease cost(1)	$	724	$	655	$	1,447	$	1,380
Finance lease cost:
Depreciation expense	$	5	$	—	$	10	$	2
Interest on lease liabilities	1		2		2		4
Total finance lease cost	$	6	$	2	$	12	$	6

(1) Short-term lease costs were immaterial.

The following table sets forth the supplemental cash flow information for the Company’s leases for the six months ended June 30, 2020 and 2019:

	Six Months Ended June 30,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,402	$	1,373
Operating cash flows for finance leases	$	2	$	4
Financing cash flows for finance leases	$	7	$	78
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	800	$	6,440

The following table sets forth the Company’s aggregate future lease payments for operating and finance leases as of June 30, 2020:

(in thousands)	Lease Payments
Years Ending December 31,	Operating Leases		Finance Leases
Remaining in 2020	$	1,453	$	6
2021	2,469		12
2022	1,119		12
2023	595		12
2024	559		12
Thereafter	1,184		9
Total minimum lease payments	7,379		63
Less: Amount representing interest	711		8
Present value of minimum lease payments	6,668		55
Less: Current portion	2,464		9
Long-term portion	$	4,204	$	46

The following table sets forth the Company’s weighted-average remaining lease terms and discount rates as of June 30, 2020:

	Weighted-average Remaining Lease Terms and Discount Rates
Weighted-average remaining lease terms (years):
Operating leases	3.88
Finance leases	5.25
Weighted-average discount rates:
Operating leases	4.23	%
Finance leases	3.06	%

Leases

Leases

The Company has operating leases for its operating facilities, data center storage facilities and certain data storage equipment in the U.S. and Germany, and finance leases for printers in its German offices. The Company's lease terms include options to extend or terminate the lease and the Company includes these options in the lease term when it is reasonably certain to exercise that option.

The following table sets forth the Company’s lease costs for the three and six months ended June 30, 2020 and 2019:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Lease costs:
Operating lease cost(1)	$	724	$	655	$	1,447	$	1,380
Finance lease cost:
Depreciation expense	$	5	$	—	$	10	$	2
Interest on lease liabilities	1		2		2		4
Total finance lease cost	$	6	$	2	$	12	$	6

(1) Short-term lease costs were immaterial.

The following table sets forth the supplemental cash flow information for the Company’s leases for the six months ended June 30, 2020 and 2019:

	Six Months Ended June 30,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,402	$	1,373
Operating cash flows for finance leases	$	2	$	4
Financing cash flows for finance leases	$	7	$	78
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	800	$	6,440

The following table sets forth the Company’s aggregate future lease payments for operating and finance leases as of June 30, 2020:

(in thousands)	Lease Payments
Years Ending December 31,	Operating Leases		Finance Leases
Remaining in 2020	$	1,453	$	6
2021	2,469		12
2022	1,119		12
2023	595		12
2024	559		12
Thereafter	1,184		9
Total minimum lease payments	7,379		63
Less: Amount representing interest	711		8
Present value of minimum lease payments	6,668		55
Less: Current portion	2,464		9
Long-term portion	$	4,204	$	46

The following table sets forth the Company’s weighted-average remaining lease terms and discount rates as of June 30, 2020:

	Weighted-average Remaining Lease Terms and Discount Rates
Weighted-average remaining lease terms (years):
Operating leases	3.88
Finance leases	5.25
Weighted-average discount rates:
Operating leases	4.23	%
Finance leases	3.06	%