Leases (Tables)

3 Months Ended

Mar. 31, 2020

Leases

Schedule of company’s current and long-term operating lease liabilities

The following is a summary of the activity in the Company’s operating lease liabilities for the three months ended March 31, 2020:

Operating lease liabilities, January 1, 2020	$	9,495
New leases entered		—
Extension of term of existing lease obligations		—
Termination of existing qualifying leases		—
Payments of lease obligations		(628)
Operating lease liabilities, March 31, 2020	$	8,867

Schedule of future minimum commitments

As of March 31, 2020, operating leases contain the following future minimum commitments:

Calendar Years ending December 31,	Amount
Remainder of 2020	$	2,973
2021		3,145
2022		2,428
2023		1,454
2024		664
Thereafter		624
Total future lease payments		11,288
Less: interest expense at incremental borrowing rate		(2,421)
Net present value of lease liabilities	$	8,867

Schedule of other assumptions and pertinent information

Other assumptions and pertinent information related to the Company’s accounting for operating leases are:

Weighted average remaining lease term:		4.6	years
Weighted average discount rate used to determine present value of operating lease liability:		10.98	%
Cash paid for minimum annual rental obligations during the three months ended March 31, 2020:	$	725