Leases (Tables)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Schedule of lease components

Our lease components included in the consolidated balance sheets were as follows:

Lease component	Classification	June 30, 2020		December 31, 2019
(in thousands)
Assets
ROU assets - operating lease	Other assets	$	6,975	$	2,236
ROU assets - finance lease	Other assets	43		70
Total ROU assets		$	7,018	$	2,306
Liabilities
Current operating lease liability	Accrued liabilities	$	868	$	1,283
Current finance lease liability	Accrued liabilities	29		50
Long-term operating lease liability	Other liabilities	7,122		1,988
Long-term finance lease liability	Other liabilities	18		23
Total lease liabilities		$	8,037	$	3,344

Schedule of other information related to leases

Rent expense is recognized on a straight-line basis over the life of the lease. Rent expense consists of the following:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2020		2019		2020		2019
Operating lease costs	$	367	$	405	$	779	$	808
Variable rent costs	25		(48)		(14)		(73)
Total rent expense	$	392	$	357	$	765	$	735

Other information related to leases is as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except weighted-average data)	2020			2019			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	14		$	10		$	27		$	22
Interest on lease liabilities	1			—			2			2
Total finance lease cost	$	15		$	10		$	29		$	24
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	367		$	405		$	744		$	808
Finance cash flows from finance leases	$	13		$	9		$	26		$	15
Right-of-use assets obtained in exchange for new operating lease liabilities	$	5,531		$	—		$	5,531		$	—
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—		$	—		$	—		$	15
Weighted-average remaining lease term (years) - operating leases	8.3			3.9			3.7			3.9
Weighted-average remaining lease term (years) - finance leases	1.9			3.9			1.9			3.9
Weighted-average discount rate - operating leases	6		%	7		%	6		%	7		%
Weighted-average discount rate - finance leases	7		%	7		%	7		%	7		%

Schedule of future operating lease payments

Future minimum lease payments under non-cancelable operating and finance leases were as follows as of June 30, 2020 (amounts in thousands):

	Operating Leases		Finance Leases
Year Ending December 31,
2020 - remaining 6 months	$	707	$	28
2021	1,308		11
2022	1,232		10
2023	1,252		5
2024	1,273		—
2025 and beyond	4,634		—
Total future minimum lease payments	10,406		54
Less: interest	2,416		7
Total operating lease liabilities	$	7,990	$	47
Current operating lease liability	$	868	$	29
Long-term operating lease liability	7,122		18
Total operating lease liabilities	$	7,990	$	47

Schedule of future finance lease payments

Future minimum lease payments under non-cancelable operating and finance leases were as follows as of June 30, 2020 (amounts in thousands):

	Operating Leases		Finance Leases
Year Ending December 31,
2020 - remaining 6 months	$	707	$	28
2021	1,308		11
2022	1,232		10
2023	1,252		5
2024	1,273		—
2025 and beyond	4,634		—
Total future minimum lease payments	10,406		54
Less: interest	2,416		7
Total operating lease liabilities	$	7,990	$	47
Current operating lease liability	$	868	$	29
Long-term operating lease liability	7,122		18
Total operating lease liabilities	$	7,990	$	47