Leases (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Components of Operating Lease Expense

The Company performed evaluations of its contracts and determined that each of its identified leases are operating leases. The components of operating lease expense were as follows:

	Three months ended September 30,					Nine months ended September 30,
	2019			2018		2019			2018
	(in thousands)
Operating lease cost, gross	$	2,139		$	1,780	$	6,311		$	5,525
Variable lease cost, gross⁽¹⁾		806			—		2,135			—
Sublease income		(145	)		—		(290	)		—
Total lease costs⁽²⁾	$	2,800		$	1,780	$	8,156		$	5,525

(1)

Variable rent expense was not included within the measurement of the Company's operating right-of-use assets and lease liabilities. Variable rent expense is comprised primarily of the Company's proportionate share of operating expenses, property taxes and insurance and is classified as lease expense due to the Company's election to not separate lease and non-lease components.

(2)	Short-term lease costs for the three and nine months ended September 30, 2019 were not significant and are not included in the table above.

Schedule of Maturities of Operating Lease Liabilities

As of September 30, 2019, the maturities of the Company's operating lease liabilities were as follows (in thousands):

2019 (excluding the nine months ended September 30, 2019)	$	2,395
2020		9,507
2021		8,925
2022		9,318
2023		8,769
Thereafter		23,620
Total lease payments		62,534
Less:
Imputed interest		(13,525	)
Lease liabilities		49,009
Tenant improvement reimbursements included in the measurement of lease liabilities but not yet received		(1,113	)
Lease liabilities, net		47,896