Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.1
Leases (Tables)
3 Months Ended
Mar. 31, 2019
Leases [Abstract]  
Summary of Right-of-Use Assets and Lease Liabilities

Information related to the Company’s right-of-use assets and related lease liabilities is as follows:

 

 

 

Three Months Ended

 

 

 

March 31,

2019

 

Cash paid for operating lease liabilities

 

$

190

 

Right-of-use assets obtained in exchange for new operating lease obligation (1)

 

$

7,622

 

Weighted-average remaining lease term

 

13.2 years

 

Weighted-average discount rate

 

 

7.6

%

    (1) All operating leases included above were held at January 1, 2019

Right-of-use assets and lease liabilities for the Company’s operating leases were recorded in the condensed consolidated balance sheet as follows, representing the Company’s right to use the underlying asset for the lease term (“Other assets”) and the Company’s obligation to make lease payments (“Other current liabilities” and “Other liabilities”):

 

 

 

March 31,

2019

 

Other assets

 

$

7,504

 

 

 

 

 

 

Other current liabilities

 

$

442

 

Other liabilities

 

 

7,117

 

Total lease liabilities

 

$

7,559

 

 

Schedule of Future Lease Payments Included in Measurement of Lease Liabilities on Condensed Consolidated Balance Sheet

Future lease payments included in the measurement of lease liabilities on the condensed consolidated balance sheet as of March 31, 2019, for the following five fiscal years and thereafter were as follows:

 

Due in 12 month period ended March 31,

 

 

 

 

2020

 

$

982

 

2021

 

 

1,017

 

2022

 

 

1,022

 

2023

 

 

1,033

 

2024

 

 

1,038

 

Thereafter

 

 

6,420

 

 

 

$

11,512

 

Less imputed interest

 

 

(3,953

)

Total lease liabilities

 

$

7,559

 

 

Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases

As of December 31, 2018, future minimum lease payments, as defined under the previous lease accounting guidance of ASC Topic 840, under non-cancelable operating leases for the following five fiscal years and thereafter were as follows:

 

Due in 12 month period ended December 31,

 

 

 

 

2019

 

$

904

 

2020

 

 

1,020

 

2021

 

 

1,030

 

2022

 

 

985

 

2023

 

 

766

 

Thereafter

 

 

2,356

 

 

 

$

7,061