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Commitments and Contingencies (Tables)
9 Months Ended
Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]  
Components of Operating Lease Expense and Supplemental Cash Flow Information

The following table presents the components of operating lease expense, as well as supplemental cash flow information, related to the Company’s leases:

 

 

For the Three Months

Ended September 30,

 

 

For the Nine Months

Ended September 30,

 

 

 

2019

 

 

 

(in thousands)

 

Operating lease expense1

 

$

632

 

 

$

1,846

 

Supplemental cash flow information:

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

644

 

 

$

1,733

 

Right-of-use assets obtained in exchange for lease obligations

 

$

 

 

$

3,507

 

 

1

Amounts have not been reduced by sublease income of $0.1 million and $0.2 million recognized during the three and six months ended June 30, 2019, respectively.  

Information Regarding Operating Leases

The following table presents information regarding the Company’s operating leases:

 

 

As of

 

 

 

September 30,

2019

 

 

 

(in thousands)

 

Operating lease right-of-use assets

 

$

13,748

 

Operating lease liabilities

 

$

14,135

 

Weighted-average remaining lease term (in years)

 

 

6.3

 

Weighted-average discount rate

 

 

4.4

%

Maturities of Lease Liabilities

The maturities of lease liabilities are as follows (in thousands):

 

Year Ending December 31,

 

Operating Leases

 

2019 (excluding the nine months ended September 30, 2019)

 

$

643

 

2020

 

 

2,574

 

2021

 

 

2,574

 

2022

 

 

2,574

 

2023

 

 

2,596

 

2024

 

 

2,607

 

Thereafter

 

 

2,607

 

Total undiscounted lease payments

 

$

16,175

 

Less discount

 

 

(2,040

)

Total lease liabilities

 

$

14,135