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LEASES | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES |
12. | LEASES
Operating lease assets primarily represents various facilities under non-cancelable operating leases expiring within one to two years. Lease costs are included in origination and servicing expenses, sales and marketing expenses, general and administrative expenses, and research and development expenses, depending on the use of the underlying asset. Operating lease expenses ( including fixed lease cost and short-term lease cost ) were RMB 22,886, RMB 24,255 and RMB 35,738 for the years ended December 31, 2017, 2018 and 2019, respectively. Total lease expense related to short-term leases was RMB 6,511 for the year ended December 31, 2019. Supplemental consolidated balance sheet information related to leases was as follows:
|  | As of December 31, 2019 |
Operating leases: |  | RMB |
Operating leases right-of-use assets |  |  | 37,215 |
Current portion of lease liabilities |  |  | 2,735 |
Non-current portion of lease liabilities |  |  | 32,480 |
Total operating lease liabilities |  |  | 35,215 |
Weighted average remaining lease term (in years) |  |  | 1.2 |
Weighted average discount rate |  |  | 4.75 | %
Supplemental cash flow information related to leases for the year ended December 31, 2019 is as follows:
|  | For the year ended December 31, 2019 |
|  | RMB |
Cash paid for amounts included in measurement of liabilities: |  |  |  |
Operating cash flows from operating leases |  |  | 28,319 |
Non-cash right-of-use assets in exchange for new lease liabilities: |  |  |  |
Operating leases |  |  | 15,986 |
Maturities of lease payments by year and in the aggregate, under non-cancellable operating leases with terms in excess of one year as of December 31,2019 are as follows:
|  | As of December 31, 2019 |
|  | RMB |
2020 |  |  | 33,430 |
2021 |  |  | 2,746 |
2022 and thereafter |  |  | — |
Total lease payment |  |  | 36,176 |
Less imputed interest |  |  | (961 | )
Total |  |  | 35,215 |
As of December 31, 2018, the undiscounted future minimum lease payments under non-cancellable operating leases prior to the adoption of the lease ASUs were as follows:
|  | As of December 31, 2019 |
|  | RMB |
2019 |  |  | 23,901 |
2020 |  |  | 22,955 |
2021 |  |  | 3,826 |
2022 and thereafter |  |  | — |
Total |  |  | 50,682 |

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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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