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Leases
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Leases

Note 8. Leases

 

The following table presents the components of lease expense in our condensed consolidated statements of operations during the period presented (in thousands):

 

Three Months Ended March 31,

 

 

2019

 

Operating lease costs(a)

 

 

 

Single lease costs

$

1,046

 

Variable lease costs

 

419

 

Sublease income(b):

 

 

 

Single sublease income

 

(328

)

Variable sublease income

 

(139

)

Total operating lease costs

 

998

 

 

 

 

 

Finance lease costs:

 

 

 

Amortization of right-of-use assets

 

115

 

Interest on lease liabilities

 

18

 

Total finance lease costs

$

133

 

 

 

 

 

(a) Includes short-term lease costs, which are immaterial.

 

 

 

(b) Sublease income is related to unused office space that was sublet as part of the restructuring in fiscal 2018.

 

 

 

 

The following table presents supplemental cash flow information related to leases during the period presented (in thousands):

 

Three Months Ended March 31,

 

 

2019

 

Cash paid for amounts included in the measurement of lease liabilities

 

 

 

Operating cash flows used in operating leases

$

1,152

 

Operating cash flows used in finance leases

 

18

 

Financing cash flows used in finance leases

 

147

 

 

The following table presents weighted-average remaining lease terms and weighted-average discount rate related to leases during the periods presented:

 

Three Months Ended March 31,

 

Weighted-average remaining lease terms (years)

2019

 

Operating leases

 

6.7

 

Finance leases

 

1.4

 

 

 

 

 

Weighted-average discount rate

 

 

 

Operating leases

 

6.8

%

Finance leases

 

9.7

%

The following table presents future lease payments under operating and finance leases as of March 31, 2019 (in thousands):

 

 

 

Operating

Leases

 

 

Finance Leases

 

 

 

Lease Payments

 

 

Sublease Income

 

 

Net

 

 

Lease Payments

 

2019

 

$

3,465

 

 

$

(882

)

 

$

2,583

 

 

$

411

 

2020

 

 

4,755

 

 

 

(1,373

)

 

 

3,382

 

 

 

270

 

2021

 

 

4,790

 

 

 

(1,414

)

 

 

3,376

 

 

 

 

2022

 

 

4,650

 

 

 

(1,457

)

 

 

3,193

 

 

 

 

2023

 

 

3,263

 

 

 

(123

)

 

 

3,140

 

 

 

 

Thereafter

 

 

9,948

 

 

 

 

 

 

9,948

 

 

 

 

Total lease payments

 

$

30,871

 

 

$

(5,249

)

 

$

25,622

 

 

$

681

 

Less: Interest

 

 

(6,285

)

 

 

 

 

 

 

 

 

 

 

(47

)

Present value of lease liabilities

 

 

24,586

 

 

 

 

 

 

 

 

 

 

 

634

 

Less: Current portion of lease liabilities

 

 

(3,122

)

 

 

 

 

 

 

 

 

 

 

(476

)

Lease liabilities, net of current portion

 

$

21,464

 

 

 

 

 

 

 

 

 

 

$

158

 

 

The following table presents future minimum lease payments under operating and capital leases as of December 31, 2018 (in thousands):

 

 

Operating

 

 

Capital

 

2019

 

$

3,573

 

 

$

575

 

2020

 

 

3,340

 

 

 

270

 

2021

 

 

3,305

 

 

 

 

2022

 

 

3,193

 

 

 

 

2023

 

 

3,140

 

 

 

 

Thereafter

 

 

9,947

 

 

 

 

Total minimum lease payments

 

$

26,498

 

 

$

845

 

Less: Portion representing interest

 

 

 

 

 

 

(64

)

Present value of capital lease obligations

 

 

 

 

 

 

781

 

Less: Current portion of capital lease obligations

 

 

 

 

 

 

(523

)

Capital lease obligations net of current portion

 

 

 

 

 

$

258