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Leases and Contingencies (Tables)
3 Months Ended
Mar. 31, 2020
Lessee Disclosure [Abstract]  
Summary of Maturity of Operating Lease Liabilities

As of March 31, 2020, operating lease assets were $25.8 million and operating lease liabilities were $30.1 million. The maturity of the Company’s operating lease liabilities as of March 31, 2020 are as follows:

 

 

 

Minimum Lease

 

Years Ending December 31:

 

Payments

 

2020 (March 31, – December 31)

 

$

2,728

 

2021

 

 

4,148

 

2022

 

 

3,779

 

2023

 

 

3,696

 

2024

 

 

3,725

 

Thereafter

 

 

17,760

 

Total future minimum lease payments

 

$

35,836

 

Less imputed interest

 

 

5,765

 

Total operating lease liabilities

 

$

30,071

 

 

Included in the condensed consolidated balance sheet:

 

 

 

 

Current operating lease liabilities

 

$

2,652

 

Non-current operating lease liabilities

 

 

27,419

 

Total operating lease liabilities

 

$

30,071

 

Summary of Lease Costs

For the three months ended March 31, 2020 and 2019, the total lease cost is comprised of the following amounts:

 

 

Three Months Ended

 

Three Months Ended

 

 

 

March 31, 2020

 

March 31, 2019

 

Operating lease expense

 

$

947

 

$

975

 

Short-term lease expense

 

 

28

 

 

21

 

Total lease expense

 

$

975

 

$

996

 

Lessee Operating Lease Term and Discount Rate

The following summarizes additional information related to operating leases:

 

 

 

As of

 

 

 

March 31, 2020

 

Weighted-average remaining lease term — operating leases

 

 

5.3

 

Weighted-average discount rate — operating leases

 

 

4

%