Annual report pursuant to Section 13 and 15(d)

Leases (Tables)

v3.20.1
Leases (Tables)
12 Months Ended
Dec. 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:

 

 

 

Year Ended

 

 

 

December 31, 2019

 

Cash paid for operating lease liabilities

 

$

826

 

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

 

 

7,622

 

(1) All operating lease included above were held at January 01, 2019.

 

 

 

 

 

 

 

December 31, 2019

 

Weighted-average remaining lease term

 

12.5 years

 

Weighted-average discount rate

 

 

7.6%

 

Right-of-use assets and lease liabilities for the Company’s operating leases were recorded in the 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”):

 

 

December 31, 2019

Other assets

 

$7,144

 

 

 

Other current liabilities

 

$580

Other liabilities

 

6,748

Total lease liabilities

 

$7,328

 

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

The Company has recorded the reduction in carrying amount of the right-of-use assets and the change in the lease liability in the Other category within the operating section of the consolidated statement of cash flows.

 

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

 

Due in 12 month period ended December 31,

 

 

2020

 

$1,099

2021

 

1,023

2022

 

1,032

2023

 

1,038

2024

 

1,042

Thereafter

 

5,641

 

 

$10,875

Less imputed interest

 

(3,547)

Total lease liabilities

 

$7,328

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