XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.20.2

Operating Leases | 9 Months Ended
--- | ---
Sep. 30, 2020
Operating Leases |
Operating Leases | 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 have remaining lease terms ranging from two to ten 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 ASU No. 2016-02, “Leases (Topic 842)”, beginning January 1, 2019 and applied the practical expedients consistently for all of its leases. The table below summarizes the amounts recognized in the condensed consolidated financial statements related to operating leases for the periods presented (in thousands):
|  | For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Rent expense for long-term operating leases |  | $ | 402 |  | $ | 453 |  | $ | 1,266 |  | $ | 1,360
Rent expense for short-term leases |  |  | 122 |  |  | 143 |  |  | 511 |  |  | 473
Total rent expense |  | $ | 524 |  | $ | 596 |  | $ | 1,777 |  | $ | 1,833
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 condensed consolidated balance sheets as of September 30, 2020 (in thousands):
Year |  | Amount
2020 |  | $ | 396
2021 |  |  | 1,603
2022 |  |  | 1,569
2023 |  |  | 1,289
2024 |  |  | 1,060
2025 and thereafter |  |  | 4,612
Total lease payments |  |  | 10,529
Less: Interest |  |  | (2,871)
Net present value of lease liabilities |  | $ | 7,658
Current portion |  | $ | 967
Long-term portion |  |  | 6,691
Total |  | $ | 7,658
The weighted-average remaining lease terms and discount rates for all of our operating leases as of September 30, 2020 were as follows:
Weighted-average lease term remaining |  | 75 months |
Weighted-average discount rate |  | 8.92 | %

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

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