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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Leases During the first quarter of 2020, the Company made the decision to cease use of the corporate headquarters leased offices and move corporate employees to the Global Research and Innovation Center (“GRIC”) during second quarter of 2020. In addition, the lease liability and corresponding ROU assets for the corporate headquarters and GRIC were remeasured to remove the anticipated term extensions as the Company determined it was no longer reasonably certain to utilize the extension at the GRIC. The remeasurement resulted in adjustments to lease liabilities and ROU assets totaling of $6.2 million each as of March 31, 2020. In addition, during the three months ended March 31, 2020, the Company recorded an impairment of the ROU assets totaling $7.4 million. For further discussion, refer to Note 10, “Impairment of Fixed and Long-lived Assets.” During the second quarter of 2020, the Company terminated the lease of the corporate headquarters office in exchange for a one-time payment of $1.0 million and moved all employees to the GRIC facility effective as of June 29, 2020. As a result of terminating the corporate headquarters office lease and making the one-time payment, the Company recorded a gain on lease termination of $0.6 million recorded in gain on lease termination. The components of lease expense and supplemental cash flow information are as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease expense | $ | 258 |  |  | $ | 652 |  |  | $ | 1,112 |  |  | $ | 1,958 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of right-of-use assets | 4 |  |  | 357 |  |  | 13 |  |  | 577 |
Interest on lease liabilities | 5 |  |  | 3 |  |  | 14 |  |  | 6 |
Total finance lease expense | 9 |  |  | 360 |  |  | 27 |  |  | 583 |
Short-term lease expense | 57 |  |  | 22 |  |  | 145 |  |  | 97 |
Total lease expense | $ | 324 |  |  | $ | 1,034 |  |  | $ | 1,284 |  |  | $ | 2,638 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 317 |  |  | $ | 584 |  |  | $ | 2,312 |  |  | $ | 1,749 |
Operating cash flows from finance leases | 5 |  |  | 3 |  |  | 13 |  |  | 6 |
Financing cash flows from finance leases | 51 |  |  | 6 |  |  | 152 |  |  | 51 |
Maturities of lease liabilities are as follows (in thousands):
Years ending December 31, |  | Operating Leases |  | Finance Leases
2020 (excluding the nine months ended September 30, 2020) | $ | 311 |  |  | $ | 17 |
2021 |  | 1,330 |  |  | 70 |
2022 |  | 1,283 |  |  | 47 |
2023 |  | 1,311 |  |  | 39 |
2024 |  | 1,341 |  |  | 23 |
Thereafter |  | 8,185 |  |  | — |
Total lease payments |  | $ | 13,761 |  |  | $ | 196 |
Less: Interest |  | (4,702 | ) |  | (24 | )
Present value of lease liabilities |  | $ | 9,059 |  |  | $ | 172 |
Supplemental balance sheet information related to leases is as follows (in thousands):
| September 30, 2020 | December 31, 2019
Operating Leases |  |
Operating lease right-of-use assets | $ | 2,368 |  | $ | 16,388 |
Current portion of operating lease liabilities | $ | 651 |  | $ | 486 |
Long-term operating lease liabilities | 8,408 |  | 16,973 |
Total operating lease liabilities | $ | 9,059 |  | $ | 17,459 |
Finance Leases |  |
Property and equipment | $ | 147 |  | $ | 293 |
Accumulated depreciation | (18 | ) | (28 | )
Property and equipment, net | $ | 129 |  | $ | 265 |
Current portion of finance lease liabilities | $ | 58 |  | $ | 55 |
Long-term finance lease liabilities | 114 |  | 158 |
Total finance lease liabilities | $ | 172 |  | $ | 213 |
Weighted Average Remaining Lease Term |  |
Operating leases | 9.9 years |  | 16.6 years |
Finance leases | 3.8 years |  | 4.6 years |
Weighted Average Discount Rate |  |
Operating leases | 8.9 | % | 8.9 | %
Finance leases | 8.5 | % | 9.0 | %
Leases | Leases During the first quarter of 2020, the Company made the decision to cease use of the corporate headquarters leased offices and move corporate employees to the Global Research and Innovation Center (“GRIC”) during second quarter of 2020. In addition, the lease liability and corresponding ROU assets for the corporate headquarters and GRIC were remeasured to remove the anticipated term extensions as the Company determined it was no longer reasonably certain to utilize the extension at the GRIC. The remeasurement resulted in adjustments to lease liabilities and ROU assets totaling of $6.2 million each as of March 31, 2020. In addition, during the three months ended March 31, 2020, the Company recorded an impairment of the ROU assets totaling $7.4 million. For further discussion, refer to Note 10, “Impairment of Fixed and Long-lived Assets.” During the second quarter of 2020, the Company terminated the lease of the corporate headquarters office in exchange for a one-time payment of $1.0 million and moved all employees to the GRIC facility effective as of June 29, 2020. As a result of terminating the corporate headquarters office lease and making the one-time payment, the Company recorded a gain on lease termination of $0.6 million recorded in gain on lease termination. The components of lease expense and supplemental cash flow information are as follows (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease expense | $ | 258 |  |  | $ | 652 |  |  | $ | 1,112 |  |  | $ | 1,958 |
Finance lease expense: |  |  |  |  |  |  |
Amortization of right-of-use assets | 4 |  |  | 357 |  |  | 13 |  |  | 577 |
Interest on lease liabilities | 5 |  |  | 3 |  |  | 14 |  |  | 6 |
Total finance lease expense | 9 |  |  | 360 |  |  | 27 |  |  | 583 |
Short-term lease expense | 57 |  |  | 22 |  |  | 145 |  |  | 97 |
Total lease expense | $ | 324 |  |  | $ | 1,034 |  |  | $ | 1,284 |  |  | $ | 2,638 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 317 |  |  | $ | 584 |  |  | $ | 2,312 |  |  | $ | 1,749 |
Operating cash flows from finance leases | 5 |  |  | 3 |  |  | 13 |  |  | 6 |
Financing cash flows from finance leases | 51 |  |  | 6 |  |  | 152 |  |  | 51 |
Maturities of lease liabilities are as follows (in thousands):
Years ending December 31, |  | Operating Leases |  | Finance Leases
2020 (excluding the nine months ended September 30, 2020) | $ | 311 |  |  | $ | 17 |
2021 |  | 1,330 |  |  | 70 |
2022 |  | 1,283 |  |  | 47 |
2023 |  | 1,311 |  |  | 39 |
2024 |  | 1,341 |  |  | 23 |
Thereafter |  | 8,185 |  |  | — |
Total lease payments |  | $ | 13,761 |  |  | $ | 196 |
Less: Interest |  | (4,702 | ) |  | (24 | )
Present value of lease liabilities |  | $ | 9,059 |  |  | $ | 172 |
Supplemental balance sheet information related to leases is as follows (in thousands):
| September 30, 2020 | December 31, 2019
Operating Leases |  |
Operating lease right-of-use assets | $ | 2,368 |  | $ | 16,388 |
Current portion of operating lease liabilities | $ | 651 |  | $ | 486 |
Long-term operating lease liabilities | 8,408 |  | 16,973 |
Total operating lease liabilities | $ | 9,059 |  | $ | 17,459 |
Finance Leases |  |
Property and equipment | $ | 147 |  | $ | 293 |
Accumulated depreciation | (18 | ) | (28 | )
Property and equipment, net | $ | 129 |  | $ | 265 |
Current portion of finance lease liabilities | $ | 58 |  | $ | 55 |
Long-term finance lease liabilities | 114 |  | 158 |
Total finance lease liabilities | $ | 172 |  | $ | 213 |
Weighted Average Remaining Lease Term |  |
Operating leases | 9.9 years |  | 16.6 years |
Finance leases | 3.8 years |  | 4.6 years |
Weighted Average Discount Rate |  |
Operating leases | 8.9 | % | 8.9 | %
Finance leases | 8.5 | % | 9.0 | %

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance 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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- 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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