Leases

3 Months Ended

Mar. 31, 2020

Leases

Leases

10. Leases

We have operating and finance leases for corporate offices, datacenters, data communication equipment and database software. Our operating leases have remaining lease terms of less than one year to nine years and our finance leases have remaining lease terms of one month to fifteen months. Some of our operating leases may include one or more options to renew and can extend the lease term from one year to ten years. The exercise of operating lease renewal options is at our sole discretion. Certain leases also

include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise. Some of our operating lease agreements include options to terminate the leases upon written notice and may include early termination penalties. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of March 31, 2020, assets recorded under finance leases were $12,280 and accumulated depreciation and amortization associated with finance leases was $5,910. As of December 31, 2019, assets recorded under finance leases were $12,280 and accumulated depreciation and amortization associated with finance leases was $5,387.

The components of lease expense were as follows:

	Three Months Ended March 31,
	2020		2019
Operating lease expense	$	859	$	885
Finance lease expense:
Depreciation and amortization of assets included in property and equipment, net		538		524
Interest on lease liabilities		—		56
Total finance lease expense	$	538	$	580

Interest on lease liabilities capitalized during the three months ended March 31, 2020, which is excluded from the above table, amounted to $24. No amounts were capitalized during the three months ended March 31, 2019.

Supplemental cash flow information related to leases was as follows:

	Three Months Ended March 31,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	(1,056)	$	(977)
Operating cash flows from finance leases		(24)		(56)
Financing cash flows from finance leases		(818)		(1,176)
Right-of-use assets obtained in exchange for lease obligations:
Operating leases		—		16,916

Operating lease ROU assets obtained in exchange for lease obligations for the three months ended March 31, 2019 include the effects of the adoption of ASC 842, Leases, effective January 1, 2019, which resulted in the recording of $16,916 of operating lease ROU assets as of January 1, 2019.

Other information related to leases was as follows:

	March 31, 2020
Weighted average remaining lease term:
Operating leases	5.9	years
Financing leases	1.0	years
Weighted average discount rate:
Operating leases	5.3	%
Finance leases	3.2	%

Future minimum lease payments under non-cancellable leases as of March 31, 2020 as presented in accordance with ASC 842 were as follows:

	Operating		Finance
	Leases		Leases
April 1, 2020―December 31, 2020	$	2,510	$	1,941
January 1, 2021―December 31, 2021		3,695		574
January 1, 2022―December 31, 2022		3,692		—
January 1, 2023―December 31, 2023		3,645		—
January 1, 2024―December 31, 2024		3,655		—
January 1, 2025―December 31, 2025		3,707		—
Thereafter		1,528		—
Total future minimum lease payments		22,432		2,515
Less: Imputed interest		(3,213)		(40)
Total		19,219		2,475
Current portion of operating and finance leases		2,586		2,344
Long-term portion of operating and finance leases	$	16,633	$	131