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LEASES (Tables)
3 Months Ended
Mar. 31, 2020
LEASES  
Schedule of Quantitative information regarding leases

 

 

 

 

 

 

 

For the Three Months Ended

 

 

March 31, 2020

 

March 31, 2019

Components of lease cost

 

 

 

 

Finance lease cost components:

 

 

 

 

  Amortization of finance lease assets

 

$ 129

 

$ 136

  Interest on finance lease liabilities

 

26

 

29

     Total finance lease costs

 

155

 

165

Operating lease cost components:

 

 

 

 

  Operating lease cost

 

765

 

786

  Short-term lease cost

 

132

 

146

  Variable lease cost (1)

 

195

 

178

  Sublease income

 

(45)

 

(44)

     Total operating lease costs

 

1,047

 

1,066

 

 

 

 

 

Total lease cost

 

$ 1,202

 

$ 1,231

 

 

 

 

 

Supplemental cash flow information related to our operating leases is

 

 

 

 

as follows for the three months ended March 31, 2020 and 2019:

 

 

 

 

     Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

   Operating cash flows from finance leases

 

 

 

 

               Operating cash outflow from operating leases

 

$ 888

 

$ 875

 

 

 

 

 

Weighted-average remaining lease term-finance leases at end of period (in years)

 

1.2

 

1.6

Weighted-average remaining lease term-operating leases at end of period (in years)

 

10.5

 

10.9

Weighted-average discount rate-finance leases at end of period

 

9.2%

 

8.4%

Weighted-average discount rate-operating leases at end of period

 

8.8%

 

9.0%

 

(1)

Variable lease costs consist primarily of taxes, insurance, utilities, and common area or other maintenance costs for the Company’s leased facilities and equipment.

Schedule of future minimum lease payments under finance leases and operating leases

As of March 31, 2020, future minimum lease payments under finance leases and operating leases were as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Finance

    

Operating

    

 

 

 

 

 

Leases

 

Leases

 

Total

 

2020

 

$

409

 

$

2,628

 

$

3,037

 

2021

 

 

527

 

 

3,387

 

 

3,914

 

2022

 

 

202

 

 

2,902

 

 

3,104

 

2023

 

 

34

 

 

2,884

 

 

2,918

 

2024

 

 

 —

 

 

2,906

 

 

2,906

 

2025 and thereafter

 

 

 —

 

 

20,119

 

 

20,119

 

Total lease payments

 

 

1,172

 

 

34,826

 

 

35,998

 

Less—portion representing interest

 

 

(116)

 

 

(12,923)

 

 

(13,039)

 

Present value of lease obligations

 

 

1,056

 

 

21,903

 

 

22,959

 

Less—current portion of lease obligations

 

 

(462)

 

 

(1,579)

 

 

(2,041)

 

Long-term portion of lease obligations

 

$

594

 

$

20,324

 

$

20,918