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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases |
1 3. | Leases
Operating and Financing Leases — We determine whether a contract contains a lease at contract inception. For leases subsequent to adoption of ASC 842, lease liabilities are calculated using a discount rate based on our incremental borrowing rate at lease commencement. We have operating lease agreements for certain facilities and equipment as well as tower space and base stations. Certain tower space leases have renewal option terms that have been deemed to be reasonably certain to be exercised. These renewal options extend a lease up to 20 years. We recognize operating lease expense on a straight-line basis over the lease term. As of September 30, 2020, there were no significant leases which have not commenced. The following is a summary of our lease expense included in the unaudited condensed consolidated statements of operations (in thousands):
|  | For the Three |  |  | For the Three |
|  | Months Ended |  |  | Months Ended |
|  | September 30, 2020 |  |  | September 30, 2019 |
Operating lease cost |  | $ | 2,864 |  |  | $ | 2,837 |
Financing lease cost: |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | 38 |  |  |  | 171 |
Interest on lease liabilities |  |  | 31 |  |  |  | 8 |
Total lease cost |  | $ | 2,933 |  |  | $ | 3,016 |
|  |  | For the Nine |  |  |  | For the Nine |
|  |  | Months Ended |  |  |  | Months Ended |
|  |  | September 30, 2020 |  |  |  | September 30, 2019 |
Operating lease cost |  | $ | 8,657 |  |  | $ | 8,800 |
Financing lease cost: |  |  |  |  |  |  |  |
Amortization of leased assets |  |  | 219 |  |  |  | 548 |
Interest on lease liabilities |  |  | 80 |  |  |  | 35 |
Total lease cost |  | $ | 8,956 |  |  | $ | 9,383 |
Other information regarding our leases is as follows (in thousands, except lease terms and discount rates):
|  | For the Nine |  |  | For the Nine |
|  | Months Ended |  |  | Months Ended |
|  | September 30, 2020 |  |  | September 30, 2019 |
Supplemental cash flow information |  |  |  |  |  |  |  |
Cash paid for amounts included in measurement of lease liabilities: |  |  |  |  |  |  |  |
Operating cash flows used in operating leases |  | $ | 9,331 |  |  | $ | 9,847 |
Operating cash flows used in financing leases |  | $ | 80 |  |  | $ | 35 |
Financing cash flows used in financing leases |  | $ | 513 |  |  | $ | 532 |
Non-cash items: |  |  |  |  |  |  |  |
Operating leases obtained |  | $ | 2,660 |  |  | $ | 2,795 |
Financing leases obtained |  | $ | 428 |  |  | $ | - |
Weighted average remaining lease term |  |  |  |  |  |  |  |
Operating leases |  | 7 years |  |  | 8 years |
Financing leases |  | 2 years |  |  | 1 year |
Weighted average discount rate |  |  |  |  |  |  |  |
Operating leases |  |  | 10.4 | % |  |  | 10.3 | %
Financing leases |  |  | 11.1 | % |  |  | 8.1 | %
Annual future minimum lease payments as of September 30, 2020 (in thousands):
|  | Operating |  |  | Financing |
Years ending December 31, |  | Leases |  |  | Leases |
2020 (period from October 1 to December 31) |  | $ | 2,280 |  |  | $ | 126 |
2021 |  |  | 12,566 |  |  |  | 503 |
2022 |  |  | 11,278 |  |  |  | 442 |
2023 |  |  | 7,276 |  |  |  | 80 |
2024 |  |  | 5,521 |  |  |  | - |
Thereafter |  |  | 28,956 |  |  |  | - |
Total future minimum lease payments |  |  | 67,877 |  |  |  | 1,151 |
Less: Amount representing interest |  |  | (22,457 | ) |  |  | (177 | )
Present value of net minimum lease payments |  | $ | 45,420 |  |  | $ | 974 |
Reported as of September 30, 2020 |  |  |  |  |  |  |  |
Accrued liabilities |  | $ | 7,197 |  |  | $ | 339 |
Non-current operating lease liabilities |  |  | 38,223 |  |  |  | - |
Other non-current liabilities |  |  | - |  |  |  | 635 |
Total lease liabilities |  | $ | 45,420 |  |  | $ | 974 |

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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