XML 23 R13.htm IDEA: XBRL DOCUMENT v3.19.2
Leases
6 Months Ended
Jun. 30, 2019
Leases  
Leases

7.       Leases

The Company has entered into various operating and finance leases for office space and equipment. The operating leases expire on various dates through 2030, and certain of such leases also contain renewal options and escalation clauses. In addition to the base rent payments, the Company will be obligated to pay a pro rata share of operating expenses and taxes.

The components of lease expense were as follows:

Three Months Ended

Six Months Ended

June 30, 

June 30, 

2019

    

2018

2019

    

2018

Operating lease cost

$

1,317

$

740

$

2,432

$

1,431

Finance lease cost:

Amortization of leased assets

147

262

409

588

Interest on lease liabilities

11

31

27

70

Total finance lease cost

158

293

436

658

Total lease cost

$

1,475

$

1,033

$

2,868

$

2,089

Operating lease cost includes short-term lease payments and variable lease payments, which are immaterial.

Supplemental balance sheet information related to leases was as follows:

June 30, 2019

    

Operating leases:

Operating lease right-of-use assets

$

22,602

Current operating lease liabilities

$

4,070

Noncurrent operating lease liabilities

21,666

Total operating lease liabilities

$

25,736

Finance leases:

Property and equipment

$

3,477

Accumulated amortization

(2,809)

Property and equipment, net

$

668

Current obligations of finance leases

$

548

Finance leases, net of current obligations

9

Total finance lease liabilities

$

557

Weighted average remaining lease term (in years):

Operating leases

8.89

Finance leases

0.70

Weighted average discount rate:

Operating leases

4.44

%

Finance leases

6.50

%

Supplemental cash flow information related to leases was as follows:

Six Months Ended

June 30, 2019

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

Operating cash flows for operating leases

$

1,959

Operating cash flows for finance leases

30

Financing cash flows for finance leases

541

Leased assets obtained in exchange for lease liabilities:

Operating leases*

$

4,388

Finance leases

*Excludes operating lease assets acquired in connection with the acquisitions of DoseMe and PrescribeWellness.

Maturities of lease liabilities as of June 30, 2019 were as follows:

Operating leases

    

Finance leases

2019

$

2,102

$

417

2020

4,283

150

2021

3,817

4

2022

3,313

2023

3,084

Thereafter

15,289

Total minimum lease payments

31,888

571

Less imputed interest

(6,152)

(14)

Present value of lease liabilities

25,736

557

Less current portion

(4,070)

(548)

Total long-term lease liabilities

$

21,666

$

9

As of June 30, 2019, the Company has additional operating lease commitments that have not yet commenced of approximately $1,725 for office space in Tucson, Arizona and Orlando, Florida, which are expected to be occupied in September 2019 and have lease terms of five to seven years from the occupancy date.

As previously disclosed in the 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for operating and finance leases having initial or remaining cancellable lease terms in excess of one year would have been as follows as of December 31, 2018:

Payments due by period

    

    

Less

    

    

    

More

than 1

than 5

Total

year

1-3 years

3-5 years

years

Capital leases

$

1,141

$

987

$

154

$

$

Operating leases

32,367

3,793

7,183

6,114

15,277

Total

$

33,508

$

4,780

$

7,337

$

6,114

$

15,277