Right-of-use asset and lease liabilities (Tables)

3 Months Ended

Mar. 31, 2019

The components of lease cost were as follows:

The lease expense for the three months ended March 31, 2018 was $0.7 million.

The table below presents the lease-related assets and liabilities recorded on the consolidated balance sheets.


	March 31, 2019
	(in thousands)
Assets
Operating lease right-of-use assets	$	18,678
Liabilities
Current
Current operating lease liability		3,808
Non-current
Non-current operating lease liability		23,344
Total lease liabilities	$	27,152

Weighted-average remaining lease term
Operating leases		11.5 years
Weighted-average discount rate
Operating leases		11.79%

Other information

The table below presents supplemental cash flow information related to leases.


	March 31, 2019
	(in thousands)
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases	$	1,413


	Lexington		Amsterdam		Total
	(in thousands)
2019 (nine months remaining)	$	1,436	$	1,419	$	2,855
2020		1,956		1,892		3,848
2021		2,009		1,892		3,901
2022		2,063		1,892		3,955
2023		2,116		1,892		4,008
Thereafter		15,754		15,137		30,891
Total minimum lease payments	$	25,334	$	24,124	$	49,458

Less: amount of lease payments representing interest		(10,941)		(11,365)		(22,306)
Present value of future minimum lease payments		14,393		12,759		27,152
Less: current obligations under operating leases		(1,916)		(1,892)		(3,808)
Non-current operating lease obligations		12,477		10,867		23,344


	Lexington		Amsterdam		Total
	(in thousands)
2019	$	2,707	$	1,963	$	4,670
2020		3,360		1,970		5,330
2021		3,455		1,970		5,425
2022		3,552		1,970		5,522
2023		3,650		1,970		5,620
Thereafter		24,892		16,085		40,977
Total minimum lease payments	$	41,616	$	25,926	$	67,544