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Leases | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases | Leases Adoption Effective January 1, 2019, the Company adopted the new lease accounting standard, ASC 842, Leases, using the modified retrospective method of applying the new standard at the adoption date. In addition, the Company elected to apply the package of practical expedients permitted under the transition guidance within the new standard. This allowed the Company to carry forward historical lease classification. Adoption of the standard resulted in the recording of lease right-of-use (ROU) assets and corresponding lease liabilities of approximately $4.0 million. The Company's financial position for reporting periods beginning on or after January 1, 2019 are presented under the new guidance, while prior periods amounts are not adjusted and continue to be reported in accordance with previous guidance. A significant portion of our operating and finance lease portfolio includes corporate offices, research and development, information technology (IT) equipment, and automobiles. The majority of our leases have remaining lease terms of 1 year to 5 years. The Company's finance leases were considered insignificant to the unaudited interim financial statements. Substantially all lease expense is presented within selling, general and administrative in the consolidated statements of operations.
(in thousands) | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2019 | 2018 |  | 2019 | 2018
Total lease expense | $ | 424 |  | $ | 579 |  |  | $ | 1,272 |  | $ | 1,359 |
Supplemental cash flow information related to leases for the third quarter is as follows:
(in thousands) | Three months ended September 30, 2019 | Nine months ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |
Operating cash flows from leases | $ | 433 |  | $ | 1,548 |
Supplemental balance sheet information related to leases for the third quarter is as follows:
(in thousands) | September 30, 2019
Operating and finance leases |
Total lease right-of-use assets | $ | 2,999 |
Total lease liabilities - current portion | 1,182 |
Total lease liabilities - net of current portion | 1,866 |
Total lease liabilities | $ | 3,048 |
Weighted-average remaining lease term |
Operating and finance leases | 3.2 years |
Weighted-average discount rate |
Operating and finance leases | 4 | %
Future minimum lease payments are as follows:
(in thousands) | Operating and finance Leases
2019, remaining | $ | 401 |
2020 | 1,034 |
2021 | 762 |
2022 | 582 |
2023 | 578 |
Thereafter | 75 |
Total lease payments | 3,432 |
Less: interest | (384 | )
Total | $ | 3,048 |

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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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