XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.19.1

Operating Leases | 3 Months Ended
--- | ---
Mar. 31, 2019
Leases, Operating [Abstract] |
Lessee, Operating Leases [Text Block] |
6. | Operating Leases
The Company has various operating lease agreements for its offices and service delivery centers. The Company has determined that the risks and benefits related to the leased properties are retained by the lessors. Accordingly, these are accounted for as operating leases. These lease agreements are for terms ranging from two to 11 years and, in most cases, provide for rental escalations ranging from 1.75% to 10%. Most of these agreements are renewable at the mutual consent of the parties in the contract. The Company adopted the ASU Topic 842- Leases beginning January 1, 2019 and adopted the practical expedients consistently for all its leases. Accordingly, the Company:
| 1. | Did not reassess whether any expired or existing contracts are or contain leases.
| 2. | Did not reassess the lease classification for any expired or existing leases.
| 3. | Did not reassess initial direct costs for any existing leases.
In addition, the Company elected to retrospectively determine the lease term and assess impairment of right of use asset. At the date of transition, the Company recognized an operating lease liability and right of use asset. The amount of lease liability is equal to the present value of the remaining lease payments as of January 1, 2019 discounted using the incremental borrowing rate of each respective country. A right of use asset is measured at the amount of the lease liability adjusted for the amount of deferred straight-line rent, prepaid rent and lease incentive allowances previously recognized. The table below summarizes the amounts recognized in the financial statements related to operating leases:
|  | For the three months ended |
|  | March 31, 2019 |
Rent expense for long-term operating leases |  | $ | 415 |
Rent expense for short-term leases |  |  | 86 |
Total rent expense |  | $ | 501 |
The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of the these amounts to the remaining net present value of the operating lease liability reported in the consolidated balance sheet as of March 31, 2019.
Year |  | Amount |
2019 |  | $ | 1,399 |
2020 |  |  | 1,769 |
2021 |  |  | 1,356 |
2022 |  |  | 1,269 |
2023 |  |  | 1,047 |
2024 and thereafter |  |  | 5,686 |
Total lease payments |  |  | 12,526 |
Less: Interest |  |  | (3,811 | )
Net present value of lease liabilities |  | $ | 8,715 |
Current portion |  | $ | 1,147 |
Long term portion |  |  | 7,568 |
Total |  | $ | 8,715 |
The weighted average remaining lease terms and discount rates for all of our operating leases as of March 31, 2019 were as follows:
Weighted average lease term |  |  | 78 months |
Weighted average discount rate |  |  | 8.96 | %

X
- References No definition available. + Details
Name: | us-gaap_LeasesOperatingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration