Lease Commitments

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Lease Commitments

Lease Commitments

The Company leases property under operating leases with varying expiration dates between 2021 and 2025. The Company also leases equipment and automobiles under operating leases with expiration dates between 2022 and 2025. The Company determines if an arrangement is a lease at inception. The Company presents operating leases in right-of-use assets and lease liabilities, while finance leases are presented in property, equipment, and software development, net, and lease liabilities in the condensed consolidated balance sheets.

The following table presents information related to leases as of March 31, 2020 and December 31, 2019:

(In thousands)		March 31, 2020			December 31, 2019
Assets:
Operating leases	Right-of-use assets, net(1)	$	1,007		$	2,241
Finance leases	Property, equipment, and software development, net(2)	126			133
Total leased assets		$	1,133		$	2,374
Liabilities:
Current:
Operating leases	Current portion of lease liabilities	$	604		$	2,376
Finance leases	Current portion of lease liabilities	47			46
Current portion of lease liabilities		651			2,422
Noncurrent:
Operating leases	Lease liabilities, net of current portion	403			333
Finance leases	Lease liabilities, net of current portion	70			82
Lease liabilities, net of current portion		473			415
Total lease liabilities		$	1,124		$	2,837
Weighted average remaining lease term (in years):
Operating leases		1.73			1.64
Finance leases		2.17			2.67
Weighted average discount rate:
Operating leases		5.62		%	9.22		%
Finance leases		5.00		%	5.00		%

(1) Right-of-use assets are recorded net of accumulated amortization of $1.0 million and $2.0 million as of March 31, 2020 and December 31, 2019, respectively.

(2) Finance lease assets are recorded net of accumulated depreciation of $17 thousand and $9 thousand as of March 31, 2020 and December 31, 2019, respectively.

The following table presents maturities of lease liabilities as of March 31, 2020:

(In thousands)	Operating Leases		Finance Leases
2020 (excluding the three months ended March 31, 2020)	$	537	$	38
2021	360		51
2022	75		34
2023	61		—
2024	49		—
Thereafter	24		—
Total lease payments	1,106		123
Imputed interest	(99)		(6)
Total lease liabilities	1,007		117
Current portion of lease liabilities	604		47
Lease liabilities, net of current portion	$	403	$	70

Lease Commitments

Lease Commitments

The Company leases property under operating leases with varying expiration dates between 2021 and 2025. The Company also leases equipment and automobiles under operating leases with expiration dates between 2022 and 2025. The Company determines if an arrangement is a lease at inception. The Company presents operating leases in right-of-use assets and lease liabilities, while finance leases are presented in property, equipment, and software development, net, and lease liabilities in the condensed consolidated balance sheets.

The following table presents information related to leases as of March 31, 2020 and December 31, 2019:

(In thousands)		March 31, 2020			December 31, 2019
Assets:
Operating leases	Right-of-use assets, net(1)	$	1,007		$	2,241
Finance leases	Property, equipment, and software development, net(2)	126			133
Total leased assets		$	1,133		$	2,374
Liabilities:
Current:
Operating leases	Current portion of lease liabilities	$	604		$	2,376
Finance leases	Current portion of lease liabilities	47			46
Current portion of lease liabilities		651			2,422
Noncurrent:
Operating leases	Lease liabilities, net of current portion	403			333
Finance leases	Lease liabilities, net of current portion	70			82
Lease liabilities, net of current portion		473			415
Total lease liabilities		$	1,124		$	2,837
Weighted average remaining lease term (in years):
Operating leases		1.73			1.64
Finance leases		2.17			2.67
Weighted average discount rate:
Operating leases		5.62		%	9.22		%
Finance leases		5.00		%	5.00		%

(1) Right-of-use assets are recorded net of accumulated amortization of $1.0 million and $2.0 million as of March 31, 2020 and December 31, 2019, respectively.

(2) Finance lease assets are recorded net of accumulated depreciation of $17 thousand and $9 thousand as of March 31, 2020 and December 31, 2019, respectively.

The following table presents maturities of lease liabilities as of March 31, 2020:

(In thousands)	Operating Leases		Finance Leases
2020 (excluding the three months ended March 31, 2020)	$	537	$	38
2021	360		51
2022	75		34
2023	61		—
2024	49		—
Thereafter	24		—
Total lease payments	1,106		123
Imputed interest	(99)		(6)
Total lease liabilities	1,007		117
Current portion of lease liabilities	604		47
Lease liabilities, net of current portion	$	403	$	70