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Leases (Tables)

3 Months Ended

Mar. 31, 2021

Leases

Schedule of operating and finance lease right-of-use assets and related lease obligations

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	March 31,		​	December 31,		​	​	​
Leases	Classification	​	2021			2020				​
Assets	​	​	(in thousands)					​		​
Operating leases	Operating lease assets	​	$	4,213	​	$	4,542	​	​	​
Finance lease	Finance lease assets *	​		20,216	​		20,544	​	​	​
Total leased assets	​	​	$	24,429	​	$	25,086	​	​	​
Liabilities	​	​	​	​	​	​	​	​	​	​
Current	​	​	​	​	​	​	​	​	​	​
Operating	Other current liabilities	​	$	2,387	​	$	2,573	​	​	​
Finance	Current portion of finance lease obligation	​	​	809	​	​	756	​	​	​
Noncurrent	​	​	​	​	​	​	​	​	​	​
Operating	Other long-term liabilities	​	​	1,812	​	​	1,949	​	​	​
Finance	Finance lease obligation	​		47,167	​		47,393	​	​	​
Total lease liabilities	​	​	$	52,175	​	$	52,671	​	​	​
​	​	​	​	​	​	​	​	​	​	​
* Finance lease assets are recorded net of accumulated depreciation of $48.7 million and include $0.7 million of prepaid financing costs as of March 31, 2021. Finance lease assets are recorded net of accumulated depreciation of $48.4 million and include $0.7 million of prepaid financing costs as of December 31, 2020. ​								​	​	​

Schedule of lease costs

​

​	​	​	​	​	​	​	​	​	​	​
​	​	​	Three months ended					​		​
​	​	​	March 31,					​	​	​
Lease cost	Classification	​	2021			2020				​
Operating lease cost	​	​	(in thousands)							​
Service	Cost of revenue	​	$	639	​	$	550	​	​	​
Research and development	Operating expenses	​		130	​		81	​	​	​
Sales and marketing*	Operating expenses	​		378	​		332	​	​	​
General and administrative*	Operating expenses	​		260	​		215	​	​	​
Total operating lease cost	​	​	$	1,407	​	$	1,178	​	​	​
Finance lease cost	​	​	​	​	​	​	​	​	​	​
Depreciation of leased assets	Cost of revenue, R&D, Sales and marketing and G&A	​	$	328	​	$	353	​	​	​
Interest on lease liabilities	Interest expense	​		1,279	​		1,303	​	​	​
Total finance lease cost	​	​	$	1,607	​	$	1,656	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Total lease cost	​	​	$	3,014	​	$	2,834	​	​	​
​	​	​	​	​	​	​	​	​	​	​
* Sales and marketing and general and administrative expense also includes short-term lease and variable lease costs of approximately $0.4 million and $0.2 million for the three months ended March 31, 2021 and 2020, respectively.									​	​

Schedule of future minimum operating and finance leases

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Finance		​	Operating			Total
Maturity of Lease Liabilities	​	Leases		​	Leases		​	Leases		​
​	​	(in thousands)								​
2021	​	$	4,394	​	$	2,129	​	$	6,523	​
2022	​		5,980	​		1,673	​		7,653	​
2023	​		6,114	​		534	​		6,648	​
2024	​		6,252	​		126	​		6,378	​
2025	​	​	5,930	​	​	74	​	​	6,004	​
Thereafter	​	​	73,723	​	​	145	​	​	73,868	​
Total lease payments	​	$	102,393	​	$	4,681	​	$	107,074	​
Less interest portion*	​	​	(54,417)	​	​	(482)	​	​	(54,899)	​
Finance lease and operating lease obligations	​	$	47,976	​	$	4,199	​	$	52,175	​
​	​	​	​	​	​	​	​	​	​	​
* Finance lease interest calculated using the implied interest rate; operating lease interest calculated using estimated corporate borrowing rate.										​

Schedule of weighted-average remaining lease term and discount rates

​

​	​	​	​	​
​	​	March 31,		​
Lease term and discount rate		2021		​
Weighted-average remaining lease term (years):	​	​	​	​
Operating leases	​	​	2.3	​
Finance leases	​		15.8	​
Weighted-average discount rate:	​	​	​	​
Operating leases	​		4.5%	​
Finance leases	​		10.5%	​
​	​	​	​	​

Schedule of cash outflows by lease type

​

​	​	​	​	​	​	​	​
​	​	Three months ended					​
​	​	March 31,					​
Cash paid for amounts included in the measurement of lease liabilities		2021		​	2020		​
​	​	(in thousands)					​
Operating cash outflows from operating leases	​	$	1,407	​	$	1,178	​
Operating cash outflows from finance leases	​		1,279	​		1,422	​
Financing cash outflows from finance leases	​	​	175	​	​	—	​
Operating lease assets obtained in exchange for operating lease liabilities	​		791	​		765	​
Finance lease assets obtained in exchange for new finance lease liabilities	​	$	—	​	$	—	​
​	​	​	​	​	​	​	​

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The tabular disclosure of lease balance sheet.

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Tabular disclosure of undiscounted cash flows of lessee's operating lease liability and finance lease liability.

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Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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