Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.19.3.a.u2
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]  
Schedule of Reconciliation of Maturity Analysis of Annual Undiscounted Cash Flows

 

The following is a maturity analysis of the annual undiscounted cash flows reconciled to the carrying value of the operating and financing lease liabilities as of December 31, 2019 (in thousands):

 

 

 

Operating

 

 

Financing

 

Year ended December 31, 2020

 

$

3,122

 

 

$

313

 

Year ended December 31, 2021

 

 

3,824

 

 

 

313

 

Year ended December 31, 2022

 

 

3,935

 

 

 

313

 

Year ended December 31, 2023

 

 

4,049

 

 

 

65

 

Year ended December 31, 2024 and beyond

 

 

27,709

 

 

 

 

Total minimum lease payments

 

$

42,639

 

 

$

1,004

 

Less imputed interest

 

 

15,955

 

 

 

142

 

Less leasehold incentive

 

 

1,629

 

 

 

 

Total lease liability

 

$

25,055

 

 

$

862

 

 

Schedule of Total Lease Cost for Operating and Financing Leases as well as Weighted Average Information for Leases

The following table outlines the total lease cost for the Company’s operating and financing leases as well as weighted average information for these leases as of December 31, 2019 (in thousands):

 

 

 

Year Ended December 31, 2019

 

Lease cost:

 

 

 

 

Operating lease cost

 

$

2,639

 

Financing lease cost:

 

 

 

 

Amortization of right-of-use asset

 

$

201

 

Interest on lease liabilities

 

 

72

 

Total financing lease cost

 

$

273

 

Cash paid for amounts included in the measurement of liabilities

 

 

 

 

Operating cash flows from operating leases

 

$

1,346

 

Operating cash flows from financing lease

 

$

277

 

 

 

 

 

 

Other information:

 

Year Ended December 31, 2019

 

Weighted-average remaining lease term (in years) - operating lease

 

 

10.18

 

Weighted-average discount rate - operating lease

 

 

9.30

%

Weighted-average remaining lease term (in years) - financing lease

 

 

3.30

 

Weighted-average discount rate - financing lease

 

 

9.47

%