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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | 9. Leases We have operating and finance lease obligations resulting from the lease of land and buildings that comprise our corporate headquarters and various manufacturing facilities; leases related to additional manufacturing, office, and warehouse space; leases on Company vehicles; and leases on a variety of office and other equipment. We sublease, on an operating lease basis, two unused office space facilities near our corporate office. Total annual rental income for these facilities is approximately $905,000. On March 8, 2019 we executed a modification to extend the lease of our On-X manufacturing facilities. This modification resulted in an increase in the net present value and corresponding right-of-use asset of $3.7 million, using a discount rate of 5.83%. We have not executed any material lease arrangements which have not commenced. We do not have any related party leasing arrangements. Supplemental consolidated balance sheet information related to leases was as follows (in thousands, except lease term and discount rate):
Operating leases: | December 31, 2020 |  | December 31, 2019
Operating lease right-of-use assets | $ | 28,242 |  | $ | 27,007
Accumulated amortization |  | (9,671) |  |  | (5,013)
Operating lease right-of-use assets, net | $ | 18,571 |  | $ | 21,994
Current maturities of operating leases | $ | 5,763 |  | $ | 5,487
Non-current maturities of operating leases |  | 14,034 |  |  | 17,918
Total operating lease liabilities | $ | 19,797 |  | $ | 23,405
Finance leases: |  |  |
Property and equipment, at cost | $ | 7,620 |  | $ | 7,161
Accumulated amortization |  | (1,905) |  |  | (1,279)
Property and equipment, net | $ | 5,715 |  | $ | 5,882
Current maturities of finance leases | $ | 614 |  | $ | 597
Non-current maturities of finance leases |  | 5,300 |  |  | 5,415
Total finance lease liabilities | $ | 5,914 |  | $ | 6,012
Weighted average remaining lease term (in years): |  |  |
Operating leases |  | 5.1 |  |  | 5.5
Finance leases |  | 9.8 |  |  | 10.6
Weighted average discount rate: |  |  |
Operating leases |  | 5.2% |  |  | 5.4%
Finance leases |  | 2.0% |  |  | 2.0%
Current maturities of finance leases are included as a component of Other current liabilities and non-current maturities of finance leases are included as a component of Other long-term liabilities on our Consolidated Balance Sheets. A summary of lease expenses for our finance and operating leases included in General, Administrative, and Marketing Expenses on our Consolidated Statements of Operations and Comprehensive Loss are as follows (in thousands):
| December 31, 2020 |  | December 31, 2019
Amortization of property and equipment | $ | 643 |  | $ | 771
Interest expense on finance leases |  | 118 |  |  | 124
Total finance lease expense |  | 761 |  |  | 895
Operating lease expense a |  | 7,145 |  |  | 6,624
Sublease income |  | (905) |  |  | (905)
Total lease expense | $ | 7,001 |  | $ | 6,614
_____________________ a Total rental expense for operating leases was $6.4 million in 2018. A summary of our supplemental cash flow information is as follows (in thousands):
Cash paid for amounts included in the measurement of lease liabilities: | 2020 |  | 2019
Operating cash flows for operating leases | $ | 7,407 |  | $ | 6,827
Financing cash flows for finance leases |  | 653 |  |  | 728
Operating cash flows for finance leases |  | 126 |  |  | 124
Future minimum lease payments and sublease rental income are as follows (in thousands):
| Finance |  | Operating |  | Sublease
| Leases |  | Leases |  | Income
2021 | $ | 719 |  | $ | 6,616 |  | $ | 905
2022 |  | 670 |  |  | 4,511 |  |  | 305
2023 |  | 669 |  |  | 3,007 |  |  | --
2024 |  | 666 |  |  | 2,758 |  |  | --
2025 |  | 647 |  |  | 1,909 |  |  | --
Thereafter |  | 3,138 |  |  | 3,569 |  |  | --
Total minimum lease payments | $ | 6,509 |  | $ | 22,370 |  | $ | 1,210
Less amount representing interest |  | 595 |  |  | 2,573 |  |  |
Present value of net minimum lease payments |  | 5,914 |  |  | 19,797 |  |  |
Less current maturities |  | 614 |  |  | 5,763 |  |  |
Finance lease obligations, less current maturities | $ | 5,300 |  | $ | 14,034 |  |  |

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- 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
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