Leases

9 Months Ended

Sep. 30, 2020

The Company has operating leases primarily for corporate offices, vehicles, and certain equipment. Such leases do not require any contingent rental payments, impose any financial restrictions, or contain any residual value guarantees. The Company determines if an arrangement is or contains a lease at inception.

The Company does not have any leases classified as financing leases.

Operating lease cost for both the three and nine months ended September 30, 2020 and 2019 was $0.4 million and $1.1 million, respectively, and was recorded in Selling, general, and administrative expenses on the unaudited condensed consolidated statements of operations for those periods. Cash paid for amounts included in the measurement of operating lease liabilities for the three and nine months ended September 30, 2020 and 2019 was $0.4 million and $1.2 million, and $0.4 million and $1.3 million, respectively. The amortization of leased assets for both the three and nine months ended September 30, 2020 and 2019 was $0.2 million and $0.7 million, respectively.

Supplemental balance sheet information related to operating leases is as follows (amounts in thousands, except lease term and discount rate):



		September 30, 2020			December 31, 2019
Assets
	Right of use asset	$	4,031		$	3,397

Liabilities
	Short term lease liability	$	1,139		$	1,168
	Long term lease liability	3,452			2,919

Weighted-average remaining lease term (years)		4.6			3.1
Weighted-average discount rate		10.0		%	11.5		%

Maturities of operating leases liabilities are as follows (amounts in thousands):



Year ending December 31,	Maturities
2020 (excluding the nine months ended September 30, 2020)	$	426
2021	1,544
2022	1,568
2023	577
2024	377
Thereafter	1,200
Total lease payments	5,692
Less: imputed interest	(1,101		)
Total lease liability	$	4,591