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LEASES | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
LEASES | LEASES We have entered into office space lease agreements, which qualify as operating leases under ASU No. 2016-02, “Leases (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. The components of the rent expense for the three months ended March 31, 2021 and 2020 were as follows:
| Three Months Ended March 31,
| 2021 |  | 2020
Operating lease cost | $ | 570 |  |  | $ | 552 |
Sublease income | (11) |  |  | (48) |
Net rent expense | $ | 559 |  |  | $ | 504 |
For purposes of calculating the operating lease assets and lease liabilities, 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. The weighted average discount rate of our operating leases is 8% and 9% as of March 31, 2021 and December 31, 2020, respectively. The weighted average remaining lease term is five and six years as of March 31, 2021 and December 31, 2020, respectively. Supplemental cash flow information related to operating leases for the three months ended March 31, 2021 and 2020 follow:
| Three Months Ended March 31,
| 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash outflows from operating leases | $ | 609 |  |  | $ | 573 |
Non-cash operating activities: |  |  |
Operating lease assets obtained in exchange for new operating lease liabilities | $ | 325 |  |  | $ | — |
Future minimum commitments over the life of all operating leases, which exclude variable rent payments, are as follows:
Year Ending December 31 | Operating Leases
2021 (remainder) | $ | 1,854 |
2022 | 1,949 |
2023 | 1,256 |
2024 | 1,037 |
2025 | 828 |
Thereafter | 1,803 |
Total minimum lease payments | 8,727 |
Less imputed interest | (1,666) |
Total lease liabilities | $ | 7,061 |

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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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