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LEASES | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Leases | LEASES We have entered into eighteen office space lease agreements, which qualify as operating leases under Topic 842. Under such leases, the lessors receive annual minimum (base) rent. The leases have original terms (excluding extension options) ranging from one to ten years. Our lease agreements do not contain any material residual value guarantees or material restrictive covenants. We record base rent expense under the straight-line method over the term of the lease. In the accompanying condensed consolidated statements of comprehensive loss, rent expense is included in operating expenses under selling, general and administrative expenses. Total straight-line rent expense and deprecation of the ROU asset for the three and nine months ended September 30, 2019 was $409 and $1,223, respectively. As of September 30, 2019, we had lease liabilities of $7,475, of which $1,628 are classified as other current accrued liabilities, and ROU assets of $6,895, which are included in other assets on the accompanying condensed consolidated balance sheet. The current and non-current portions of the lease liabilities are included in other accrued liabilities and other liabilities, respectively, on the accompanying condensed consolidated balance sheet. For purposes of calculating the ROU assets and lease liabilities for such leases, extension options are not included in the lease term unless it is reasonably certain we will exercise the option, or the lessor has the sole ability to exercise the option. Our incremental borrowing rate of 9.00% is estimated to approximate our interest rate on a collateralized basis with similar terms and payments, using a portfolio approach. The weighted average remaining lease term of leases with a lease liability as of September 30, 2019 is 6.0 years (excluding extension options). Future minimum commitments over the life of all operating leases, which exclude variable rent payments, are as follows:
| Total Operating Leases |
2019 (remainder) | $ | 587 |  |
2020 | 2,100 |  |
2021 | 1,947 |  |
2022 | 1,417 |  |
2023 | 711 |  |
Thereafter | 2,977 |  |
Total minimum lease payments | 9,739 |  |
Less imputed interest | (2,264 | ) |
Total lease liabilities | $ | 7,475 |  |

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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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