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Lease liabilities (Tables)
3 Months Ended
Mar. 31, 2020
Leases [Abstract]  
Schedule of Components of Lease Expense

The components of the lease expense were as follows:

 

 

 

THREE MONTHS ENDED
MARCH 31,

 

(in thousands)

 

2020

 

 

2019

 

Finance lease cost

 

 

 

 

 

 

 

 

Amortization of right-of-use assets

 

$

12

 

 

$

 

Interest on lease liabilities

 

 

 

 

 

 

Operating lease cost

 

 

528

 

 

 

31

 

Short term lease cost

 

 

28

 

 

 

 

Variable lease cost

 

 

74

 

 

 

48

 

Total net lease cost

 

$

642

 

 

$

79

 

Supplemental Balance Sheet Information Related to Leases

Supplemental balance sheet information related to leases is as follows:

 

 

 

THREE MONTHS ENDED
MARCH 31,

 

 

 

2020

 

 

2019

 

Weighted average remaining lease term – finance leases

 

3.12 years

 

 

1.42 years

 

Weighted average remaining lease term – operating leases

 

8.11 years

 

 

2.58 years

 

Weighted average discount rate – finance leases

 

 

7.11%

 

 

 

6.94%

 

Weighted average discount rate – operating leases

 

 

12.63%

 

 

 

6.00%

 

Supplemental Cash flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

 

 

 

THREE MONTHS ENDED
MARCH 31,

 

(in thousands)

 

2020

 

 

2019

 

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

 

$

310

 

 

$

41

 

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

 

 

2

 

 

 

2

 

Operating lease liabilities arising from obtaining right-of-use assets

 

9,614

 

 

515

 

Schedule of Company's Operating Lease Liability

At March 31, 2020, the future payments under the Company’s operating and finance lease liabilities were as follows:

 

(in thousands)

 

FINANCE
LEASE

 

 

OPERATING
LEASE

 

December 31, 2020 (remaining nine months)

 

$

62

 

 

$

414

 

December 31, 2021

 

 

60

 

 

 

2,502

 

December 31, 2022

 

 

60

 

 

 

2,086

 

December 31, 2023

 

 

60

 

 

 

2,139

 

December 31, 2024

 

 

 

 

 

2,192

 

Thereafter

 

 

 

 

 

9,124

 

Total undiscounted lease payments

 

 

242

 

 

 

18,457

 

Less: imputed interest

 

 

(37

)

 

 

(7,734

)

Total lease liabilities

 

205

 

 

10,723

 

Less: current portion

 

 

(59

)

 

 

(541

)

Non-current lease liabilities – March 31, 2020

 

$

146

 

 

$

10,182

 

Schedule of Company's Finance Lease Liability

At March 31, 2020, the future payments under the Company’s operating and finance lease liabilities were as follows:

 

(in thousands)

 

FINANCE
LEASE

 

 

OPERATING
LEASE

 

December 31, 2020 (remaining nine months)

 

$

62

 

 

$

414

 

December 31, 2021

 

 

60

 

 

 

2,502

 

December 31, 2022

 

 

60

 

 

 

2,086

 

December 31, 2023

 

 

60

 

 

 

2,139

 

December 31, 2024

 

 

 

 

 

2,192

 

Thereafter

 

 

 

 

 

9,124

 

Total undiscounted lease payments

 

 

242

 

 

 

18,457

 

Less: imputed interest

 

 

(37

)

 

 

(7,734

)

Total lease liabilities

 

205

 

 

10,723

 

Less: current portion

 

 

(59

)

 

 

(541

)

Non-current lease liabilities – March 31, 2020

 

$

146

 

 

$

10,182