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LEASES

12 Months Ended

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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- References

No definition available.

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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

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