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Leases (Tables)
6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Information Related to Lease Costs
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

 
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
%
Schedule of Future Minimum Lease Payments After Adoption of 842
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

Schedule of Future Minimum Lease Payments After Adoption of 842
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

Schedule of Future Minimum Lease Payments Prior to Adoption of 842
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