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v3.20.2

Leases | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Leases | Leases The following table summarizes the supplemental balance sheet information related to lease assets and lease liabilities as of June 30, 2020 and December 31, 2019 (in thousands):
| Classification |  | June 30, 2020 |  | December 31, 2019
Assets |  |  |  |  |
Operating lease assets | Right-of-use assets |  | $ | 841 |  |  | $ | 965 |
Finance lease assets | Property and equipment, net of accumulated depreciation |  | 8,717 |  |  | 9,302 |
Total lease assets |  |  | $ | 9,558 |  |  | $ | 10,267 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Current portion of operating lease obligations - related parties |  | $ | 315 |  |  | $ | 364 |
Finance | Current portion of finance lease obligation |  | 2,394 |  |  | 3,440 |
Noncurrent |  |  |  |  |
Operating | Long-term portion of operating lease obligation |  | 594 |  |  | 650 |
Finance | Finance lease obligations—related parties, net of current portion |  | — |  |  | 648 |
Total lease liabilities |  |  | $ | 3,303 |  |  | $ | 5,102 |
The following table summarizes the components of lease expense for the six months ended June 30, 2020 and 2019 (in thousands, unaudited):
Lease Cost |  | Classification | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
|  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | Cost of sales | $ | 41 |  |  | $ | 48 |  |  | $ | 80 |  |  | $ | 87 |
Operating lease cost |  | Selling, general and administrative expenses | 90 |  |  | 40 |  |  | 181 |  |  | 107 |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | Depreciation | 292 |  |  | 292 |  |  | 585 |  |  | 585 |
Interest on lease liabilities |  | Interest expense | 135 |  |  | 171 |  |  | 296 |  |  | 345 |
Net lease cost |  |  | $ | 558 |  |  | $ | 551 |  |  | $ | 1,142 |  |  | $ | 1,124 |
The following schedule presents the future minimum lease payments for our operating and finance obligations at June 30, 2020 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
Remainder 2020 | $ | 249 |  |  | $ | 1,885 |  |  | $ | 2,134 |
2021 | 286 |  |  | 649 |  |  | 935 |
2022 | 172 |  |  | — |  |  | 172 |
2023 | 145 |  |  | — |  |  | 145 |
2024 | 149 |  |  | — |  |  | 149 |
Thereafter | 25 |  |  | — |  |  | 25 |
Total lease payments | 1,026 |  |  | 2,534 |  |  | 3,560 |
Less: Interest | (117) |  |  | (140) |  |  | (257) |
Present value of lease liabilities | $ | 909 |  |  | $ | 2,394 |  |  | $ | 3,303 |
Lease term and discount rates for our operating and finance lease obligations are as follows:
Lease Term and Discount Rate |  | June 30, 2020
Weighted-average remaining lease term (years) |  |
Operating leases |  | 3.4
Finance leases |  | 0.5
Weighted-average discount rate |  |
Operating leases |  | 7.3 | %
Finance leases |  | 9.1 | %
The following table summarizes the supplemental cash flow information related to leases for the six months ended June 30, 2020 and 2019:
Other information |  | June 30, 2020 |  | June 30, 2019
|  | (In thousands) |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 237 |  |  | $ | 158 |
Financing cash flows from finance leases |  | 1,694 |  |  | 1,672 |
Interest paid |  | 235 |  |  | 340 |
Noncash activities from right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 73 |  |  | $ | 621 |
Leases | Leases The following table summarizes the supplemental balance sheet information related to lease assets and lease liabilities as of June 30, 2020 and December 31, 2019 (in thousands):
| Classification |  | June 30, 2020 |  | December 31, 2019
Assets |  |  |  |  |
Operating lease assets | Right-of-use assets |  | $ | 841 |  |  | $ | 965 |
Finance lease assets | Property and equipment, net of accumulated depreciation |  | 8,717 |  |  | 9,302 |
Total lease assets |  |  | $ | 9,558 |  |  | $ | 10,267 |
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Current portion of operating lease obligations - related parties |  | $ | 315 |  |  | $ | 364 |
Finance | Current portion of finance lease obligation |  | 2,394 |  |  | 3,440 |
Noncurrent |  |  |  |  |
Operating | Long-term portion of operating lease obligation |  | 594 |  |  | 650 |
Finance | Finance lease obligations—related parties, net of current portion |  | — |  |  | 648 |
Total lease liabilities |  |  | $ | 3,303 |  |  | $ | 5,102 |
The following table summarizes the components of lease expense for the six months ended June 30, 2020 and 2019 (in thousands, unaudited):
Lease Cost |  | Classification | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
|  |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | Cost of sales | $ | 41 |  |  | $ | 48 |  |  | $ | 80 |  |  | $ | 87 |
Operating lease cost |  | Selling, general and administrative expenses | 90 |  |  | 40 |  |  | 181 |  |  | 107 |
Finance lease cost |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | Depreciation | 292 |  |  | 292 |  |  | 585 |  |  | 585 |
Interest on lease liabilities |  | Interest expense | 135 |  |  | 171 |  |  | 296 |  |  | 345 |
Net lease cost |  |  | $ | 558 |  |  | $ | 551 |  |  | $ | 1,142 |  |  | $ | 1,124 |
The following schedule presents the future minimum lease payments for our operating and finance obligations at June 30, 2020 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
Remainder 2020 | $ | 249 |  |  | $ | 1,885 |  |  | $ | 2,134 |
2021 | 286 |  |  | 649 |  |  | 935 |
2022 | 172 |  |  | — |  |  | 172 |
2023 | 145 |  |  | — |  |  | 145 |
2024 | 149 |  |  | — |  |  | 149 |
Thereafter | 25 |  |  | — |  |  | 25 |
Total lease payments | 1,026 |  |  | 2,534 |  |  | 3,560 |
Less: Interest | (117) |  |  | (140) |  |  | (257) |
Present value of lease liabilities | $ | 909 |  |  | $ | 2,394 |  |  | $ | 3,303 |
Lease term and discount rates for our operating and finance lease obligations are as follows:
Lease Term and Discount Rate |  | June 30, 2020
Weighted-average remaining lease term (years) |  |
Operating leases |  | 3.4
Finance leases |  | 0.5
Weighted-average discount rate |  |
Operating leases |  | 7.3 | %
Finance leases |  | 9.1 | %
The following table summarizes the supplemental cash flow information related to leases for the six months ended June 30, 2020 and 2019:
Other information |  | June 30, 2020 |  | June 30, 2019
|  | (In thousands) |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 237 |  |  | $ | 158 |
Financing cash flows from finance leases |  | 1,694 |  |  | 1,672 |
Interest paid |  | 235 |  |  | 340 |
Noncash activities from right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 73 |  |  | $ | 621 |

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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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