Leases

6 Months Ended

Jun. 30, 2019

The Company has operating and finance leases for corporate offices, doctors’ offices, and certain equipment. These leases have remaining lease terms of 1 month to 5 years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within one year. As of June 30, 2019 and December 31, 2018, assets recorded under finance leases were $0.5 million, and accumulated depreciation associated with finance leases was $0.2 million.

Also, the Company rents or subleases certain real estate to third parties, which are accounted for as operating leases.

Leases with an initial term of 12 months or less are not recorded on the balance sheet.

The components of lease expense were as follows:



	Three Months Ended June 30, 2019			Six Months Ended June 30, 2019

Operating lease cost	$	1,240,275		$	2,342,959

Finance lease cost
Amortization of lease expense	$	25,339		$	50,489
Interest on lease liabilities	4,391			8,970

Sublease income	$	(105,900	)	$	(206,080	)

Total finance lease cost, net	$	1,164,105		$	2,196,338

Other information related to leases was as follows:



	Three Months Ended June 30, 2019		Six Months Ended June 30, 2019
Supplemental Cash Flows Information

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	1,239,312	$	2,272,865
Operating cash flows from finance leases	4,391		8,970
Financing cash flows from finance leases	25,339		50,489

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	6,441,363		15,417,482
Finance leases	—		—

			Six Months Ended June 30, 2019
Weighted Average Remaining Lease Term

Operating leases			6.87 years
Finance leases			5.00 years

Weighted Average Discount Rate

Operating leases			6.18		%
Finance leases			3.00		%

Future minimum lease payments under non-cancellable leases as of June 30, 2019 and December 31, 2018 were as follows:



June 30, 2019	Operating Leases		Finance Leases
2019 (excluding the six months ended June 30, 2019)	$	1,917,285	$	59,460
2020	3,615,177		118,920
2021	2,421,637		118,920
2022	2,077,157		118,920
2023	1,797,423		118,920
Thereafter	6,487,401		79,278

Total future minimum lease payments	18,316,080		614,418
Less: imputed interest	4,063,320		45,906
Total lease obligations	14,252,760		568,512
Less: current portion	2,836,010		101,741
Long-term lease obligations	$	11,416,750	$	466,771



December 31, 2018	Operating Leases		Finance Leases
2019	$	2,848,000	$	119,000
2020	2,267,000		119,000
2021	783,000		119,000
2022	487,000		119,000
2023	489,000		119,000
Thereafter	243,000		79,000

Total future minimum lease payments	7,117,000		674,000

As of June 30, 2019, the Company does not have additional operating and finance leases that have not yet commenced.

Leases