Operating Leases (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Operating Lease Expense Recognized in Financial Statements

The table below summarizes the amounts recognized in the financial statements related to operating leases for the periods presented (in thousands):


	For the three months		For the nine months
	ended		ended
	September 30, 2019		September 30, 2019
Rent expense for long-term operating leases	$	453	$	1,360
Rent expense for short-term leases		66		237
Total rent expense	$	519	$	1,597

Schedule of Net Present Value of Operating Lease Liability

The following table presents the maturity profile of the Company’s operating lease liabilities based on the contractual undiscounted payments with a reconciliation of these amounts to the remaining net present value of the operating lease liability reported in the consolidated balance sheet as of September 30, 2019 (in thousands).


Year	Amount
2019	$	461
2020		1,736
2021		1,331
2022		1,249
2023		1,047
2024 and thereafter		5,685
Total lease payments		11,509
Less: Interest		(3,411)
Net present value of lease liabilities	$	8,098

Current portion	$	1,149
Long-term portion		6,949
Total	$	8,098

Schedule of Weighted Average Remaining Lease Terms and Discount Rates

The weighted average remaining lease terms and discount rates for all of our operating leases as of September 30, 2019 were as follows:


Weighted-average lease term remaining	70 months
Weighted-average discount rate	8.98	%