Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Schedule of lease components

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

Lease component	Classification	September 30, 2020		December 31, 2019
(in thousands)
Assets
ROU assets - operating lease	Other assets	$	7,785	$	2,236
ROU assets - finance lease	Other assets	36		70
Total ROU assets		$	7,821	$	2,306
Liabilities
Current operating lease liability	Accrued liabilities	$	1,209	$	1,283
Current finance lease liability	Accrued liabilities	18		50
Long-term operating lease liability	Other liabilities	7,745		1,988
Long-term finance lease liability	Other liabilities	16		23
Total lease liabilities		$	8,988	$	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 September 30,				Nine Months Ended September 30,
(in thousands)	2020		2019		2020		2019
Operating lease costs	$	320	$	407	$	1,099	$	1,214
Variable rent costs	155		(37)		141		(110)
Total rent expense	$	475	$	370	$	1,240	$	1,104

Other information related to leases is as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
(in thousands, except weighted-average data)	2020			2019			2020			2019
Finance lease cost:
Amortization of right-of-use assets	$	7		$	11		$	35		$	33
Interest on lease liabilities	1			2			3			4
Total finance lease cost	$	8		$	13		$	38		$	37
Other information:
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	320		$	407		$	1,064		$	1,214
Finance cash flows from finance leases	$	13		$	13		$	39		$	27
Right-of-use assets obtained in exchange for new operating lease liabilities	$	1,274		$	—		$	6,805		$	—
Right-of-use assets obtained in exchange for new finance lease liabilities	$	—		$	—		$	—		$	15
Weighted-average remaining lease term (years) - operating leases	7.7			3.8			7.7			3.8
Weighted-average remaining lease term (years) - finance leases	2			2.2			2			2.2
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 September 30, 2020 (amounts in thousands):

	Operating Leases		Finance Leases
Year Ending December 31,
2020 - remaining 3 months	$	434	$	14
2021	1,721		11
2022	1,657		10
2023	1,616		5
2024	1,274		—
2025 and beyond	4,633		—
Total future minimum lease payments	11,335		40
Less: interest	2,381		6
Total lease liabilities	$	8,954	$	34
Current lease liability	$	1,209	$	18
Long-term lease liability	7,745		16
Total lease liabilities	$	8,954	$	34

Schedule of future finance lease payments

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

	Operating Leases		Finance Leases
Year Ending December 31,
2020 - remaining 3 months	$	434	$	14
2021	1,721		11
2022	1,657		10
2023	1,616		5
2024	1,274		—
2025 and beyond	4,633		—
Total future minimum lease payments	11,335		40
Less: interest	2,381		6
Total lease liabilities	$	8,954	$	34
Current lease liability	$	1,209	$	18
Long-term lease liability	7,745		16
Total lease liabilities	$	8,954	$	34