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Leases | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Leases | Leases 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. Operating lease expense for fiscal year 2018, under ASC 840, the predecessor to ASC 842, was $1.8 million. A significant portion of the Company's operating lease portfolio includes office space, research and development facilities, information technology (“IT”) equipment, and automobiles. The majority of the Company's leases have remaining lease terms of one to four years. Substantially all lease expense is presented within SG&A in the consolidated statements of operations.
(in thousands) | Year Ended December 31,
| 2020 |  | 2019 |  | 2018
Total lease expense | $ | 1,358 |  |  | $ | 1,632 |  |  | $ | 1,798 |
Supplemental cash flow information related to leases is as follows:
| December 31,
(in thousands) | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows from leases | $ | 1,334 |  |  | $ | 1,978 |
Right-of-use assets obtained in exchange for new operating lease liabilities | $ | 801 |  |  | $ | — |
Supplemental balance sheet information related to leases is as follows:
| December 31,
(in thousands) | 2020 |  | 2019
Operating leases |  |  |
Total lease right-of-use assets | 2,569 |  |  | 3,017 |
Lease liabilities - current portion | 1,200 |  |  | 2,060 |
Lease liabilities - net of current portion | 1,462 |  |  | 1,021 |
Total lease liabilities | 2,662 |  |  | 3,081 |
Weighted-average remaining lease term |  |  |
Operating leases | 2.6 years |  | 3.3 years
Weighted-average discount rate |  |  |
Operating leases | 4.0 | % |  | 4.0 | %
The following table summarizes future lease payments for operating leases at December 31, 2020
(in thousands) | Operating leases
2021 | 1,253 |
2022 | 770 |
2023 | 684 |
2024 | 65 |
2025 | — |
Thereafter | — |
Total lease payments | 2,772 |
Less: portion representing imputed interest | (110) |
Total | $ | 2,662 |

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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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