Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases  
Schedule of lease expense

During the three and nine months ended September 30, 2019, the Company recorded $0.8 million and $2.4 million, respectively, as lease expense to current period operations.

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

Nine Months Ended

($ in thousands)

    

September 30, 2019

    

September 30, 2019

Lease cost

 

 

  

 

 

  

Operating lease cost

 

$

798

 

$

2,397

Shared lease costs

 

 

(479)

 

 

(1,408)

Variable lease cost

 

 

160

 

 

575

Total lease cost

 

$

479

 

$

1,564

 

The following tables summarize quantitative information about the Company’s operating leases, under the adoption of Topic 842:

 

 

 

 

 

 

 

    

Nine Months Ended

 

($ in thousands)

 

September 30, 

 

Operating cash flows from operating leases

 

$

(2,185)

 

Weighted-average remaining lease term – operating leases

 

 

6.4

 

Weighted-average discount rate – operating leases

 

 

6.2

%

 

 

 

 

 

 

    

Future Lease

($ in thousands)

 

Liability

Three months ended December 31, 2019

 

$

776

Year Ended December 31, 2020

 

 

2,966

Year Ended December 31, 2021

 

 

3,114

Year Ended December 31, 2022

 

 

3,084

Year Ended December 31, 2023

 

 

3,137

Other

 

 

23,463

Total

 

 

36,540

Less: present value discount

 

 

(10,631)

Operating lease liabilities

 

$

25,909

 

Schedule of total future minimum lease payments

At December 31, 2018, the total future minimum lease payments under all leases were:

 

 

 

 

 

($ in thousands)

    

    

 

2019

 

$

3,070

2020

 

 

3,289

2021

 

 

3,084

2022

 

 

3,084

2023

 

 

3,137

Beyond

 

 

23,466

Total minimum lease payments

 

$

39,130