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RIGHT-OF-USE ASSETS AND LEASES | 3 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
RIGHT-OF-USE ASSETS AND LEASES | RIGHT-OF-USE ASSETS AND LEASES The Company primarily leases facilities for office and data center space under non-cancellable operating leases for its U.S. and international locations that expire at various dates through 2026. For leases with a term greater than 12 months, the Company recognizes a right-of-use asset and a lease liability based on the present value of lease payments over the lease term. The Company’s leases have remaining terms of one to seven years and some of the leases include a Company option to extend the lease term for one to five years, or more, which if reasonably certain to exercise, the Company includes in the determination of lease payments. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. As most of the Company's leases do not provide a readily determinable implicit rate, the Company uses the incremental borrowing rate at lease commencement, which was determined using a portfolio approach, based on the rate of interest that the Company would have to pay to borrow an amount equal to the lease payments on a collateralized basis over a similar term. The Company uses the implicit rate when a rate is readily determinable. Operating lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recognized on the balance sheet and the expense for these short-term leases is recognized on a straight-line basis over the lease term. Common area maintenance fees (or CAMs) and other charges related to these leases continue to be expensed as incurred. Short-term lease expense was not material to the Company’s condensed consolidated statements of operations for the three months ended June 30, 2019. Variable lease payments are not included in the lease payments to measure the lease liability and are expensed as incurred. The following table provides the components of the Company's lease right-of-use assets and liabilities as of June 30, 2019 (in thousands):
|  | June 30, 2019
Assets |  |
Operating lease, right-of-use assets |  | $ | 18,058 |
Liabilities |  |
Operating lease liabilities, current |  | $ | 7,063 |
Operating lease liabilities, non-current |  | 12,044 |
Total operating lease liabilities |  | $ | 19,107 |
During the three months ended June 30, 2019, operating lease expense was approximately $2.1 million. Variable lease cost and short-term lease cost were immaterial during the three months ended June 30, 2019. The following table presents supplemental information for the three months ended June 30, 2019 (in thousands, except for weighted average):
Weighted average remaining lease term |  | 3.9 years
Weighted average discount rate |  | 4.0%
Cash paid for amounts included in the measurement of lease liabilities |  | $ | 2,252 |
Operating cash flow from operating leases |  | $ | 2,252 |
The following table presents maturity of lease liabilities under the Company's non-cancelable operating leases as of June 30, 2019 (in thousands):
Remaining 2020 |  | $ | 6,008 |
2021 |  | 5,666 |
2022 |  | 4,275 |
2023 |  | 1,381 |
2024 |  | 1,111 |
Thereafter |  | 2,221 |
Total lease payments |  | $ | 20,662 |
Less: imputed interest |  | (1,555 | )
Present value of lease liabilities |  | $ | 19,107 |
As of June 30, 2019, the Company does not have any additional operating leases that have not yet commenced and as such, have not yet been recognized on the Company’s condensed condensed consolidated balance sheet. The Company's lease agreement (the "Agreement") with CAP Phase I, a Delaware limited liability company (the "Landlord") for the Coleman property is not included in the right-of-use assets and operating lease liabilities as of June 30, 2019. On April 30, 2019, the Company entered into an assignment and assumption of the Company's previously executed lease agreement with the Landlord, and Roku Inc., a Delaware corporation ("Roku"), whereby the Company assigned to Roku this lease that had been executed between the Company and the Landlord on January 23, 2018. Pursuant to the Agreement, the Company expects to be released from all of its obligations under the Lease and related standby letter of credit by the end of the Company’s fiscal year ending March 31, 2022 or shortly thereafter. The Company has entered into a new lease for its headquarters in Campbell, California, see note 13.

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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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