Leases (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Right of Use Asset and Related Lease Liability and Supplemental Cash Flow Information

Because the rate implicit in the lease is not readily determinable, we use our incremental borrowing rate to determine the present value of lease payments. Information related to our right-of-use asset and related lease liability were as follows:

		December 31,		December 31,
(in thousands)	Balance Sheet Classification	2020		2019
Right-of-use asset	Right-of-use lease asset, net	$	8,622	$	—

Operating lease liability (current)	Accounts payable, accrued and other liabilities	$	691	$	—
Operating lease liability (non-current)	Long-term debt and other liabilities, net		7,952		—
		$	8,643	$	—

	For the Year Ended December 31,
(in thousands	2020		2019
Cash paid for operating lease liabilities	$	321	$	—
Right-of-use asset obtained in exchange for operating lease obligation		8,841		—

Schedule of Future Amortization of Lease Liability

Operating lease expense is recognized on a straight-line basis over the lease term. We recognized $327,000 in total lease costs during 2020. Future amortization of our lease liability as of December 31, 2020 was as follows:

(in thousands)
2021	$	1,001
2022		1,001
2023		1,001
2024		1,008
2025		1,035
Thereafter		5,397
Future lease payments, gross		10,443
Less: Imputed interest		(1,800	)
Operating lease liability	$	8,643