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Leases | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Leases | Leases The following table summarizes the supplemental balance sheet information related to lease assets and lease liabilities as of September 30, 2020 and December 31, 2019 (in thousands):
| Classification |  | September 30, 2020 |  | December 31, 2019
Assets |  |  |  |  |
Operating lease assets | Right-of-use assets |  | $ | 881 |  | $ | 965
Finance lease assets | Property and equipment, net of accumulated depreciation |  | 8,425 |  | 9,302
Total lease assets |  |  | $ | 9,306 |  | $ | 10,267
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Current portion of operating lease obligations |  | $ | 383 |  | $ | 364
Finance | Current portion of finance lease obligation - related parties |  | 1,312 |  | 3,440
Noncurrent |  |  |  |  |
Operating | Long-term portion of operating lease obligation |  | 565 |  | 650
Finance | Finance lease obligations, net of current portion - related parties |  | — |  | 648
Total lease liabilities |  |  | $ | 2,260 |  | $ | 5,102
The following table summarizes the components of lease expense for the three and nine months ended September 30, 2020 and 2019 (in thousands, unaudited):
Lease Cost |  | Classification |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | Cost of sales |  | $ | 42 |  | $ | 29 |  | $ | 122 |  | $ | 116
Operating lease cost |  | Selling, general and administrative expenses |  | 4 |  | 75 |  | 185 |  | 182
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | Depreciation |  | 294 |  | 274 |  | 879 |  | 858
Interest on lease liabilities |  | Interest expense |  | 104 |  | 170 |  | 400 |  | 510
Net lease cost |  |  |  | $ | 444 |  | $ | 548 |  | $ | 1,586 |  | $ | 1,666
The following schedule presents the future minimum lease payments for our operating and finance obligations at September 30, 2020 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
Remainder 2020 | $ | 139 |  | $ | 727 |  | $ | 866
2021 | 429 |  | 646 |  | 1,075
2022 | 172 |  | — |  | 172
2023 | 145 |  | — |  | 145
2024 | 149 |  | — |  | 149
Thereafter | 25 |  | — |  | 25
Total lease payments | 1,059 |  | 1,373 |  | 2,432
Less: Interest | (111) |  | (61) |  | (172)
Present value of lease liabilities | $ | 948 |  | $ | 1,312 |  | $ | 2,260
Lease term and discount rates for our operating and finance lease obligations are as follows:
Lease Term and Discount Rate |  | September 30, 2020
Weighted-average remaining lease term (years) |  |
Operating leases |  | 3.1
Finance leases |  | 0.3
Weighted-average discount rate |  |
Operating leases |  | 7.3%
Finance leases |  | 8.9%
The following table summarizes the supplemental cash flow information related to leases for the nine months ended September 30, 2020 and 2019:
Other information |  | September 30, 2020 |  | September 30, 2019
|  | (In thousands)
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 287 |  | $ | 298
Financing cash flows from finance leases |  | 2,640 |  | 2,582
Interest paid |  | 400 |  | 510
Noncash activities from right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 1,163 |  | $ | 1,173
Leases | Leases The following table summarizes the supplemental balance sheet information related to lease assets and lease liabilities as of September 30, 2020 and December 31, 2019 (in thousands):
| Classification |  | September 30, 2020 |  | December 31, 2019
Assets |  |  |  |  |
Operating lease assets | Right-of-use assets |  | $ | 881 |  | $ | 965
Finance lease assets | Property and equipment, net of accumulated depreciation |  | 8,425 |  | 9,302
Total lease assets |  |  | $ | 9,306 |  | $ | 10,267
Liabilities |  |  |  |  |
Current |  |  |  |  |
Operating | Current portion of operating lease obligations |  | $ | 383 |  | $ | 364
Finance | Current portion of finance lease obligation - related parties |  | 1,312 |  | 3,440
Noncurrent |  |  |  |  |
Operating | Long-term portion of operating lease obligation |  | 565 |  | 650
Finance | Finance lease obligations, net of current portion - related parties |  | — |  | 648
Total lease liabilities |  |  | $ | 2,260 |  | $ | 5,102
The following table summarizes the components of lease expense for the three and nine months ended September 30, 2020 and 2019 (in thousands, unaudited):
Lease Cost |  | Classification |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | Cost of sales |  | $ | 42 |  | $ | 29 |  | $ | 122 |  | $ | 116
Operating lease cost |  | Selling, general and administrative expenses |  | 4 |  | 75 |  | 185 |  | 182
Finance lease cost |  |  |  |  |  |  |  |  |  |
Amortization of leased assets |  | Depreciation |  | 294 |  | 274 |  | 879 |  | 858
Interest on lease liabilities |  | Interest expense |  | 104 |  | 170 |  | 400 |  | 510
Net lease cost |  |  |  | $ | 444 |  | $ | 548 |  | $ | 1,586 |  | $ | 1,666
The following schedule presents the future minimum lease payments for our operating and finance obligations at September 30, 2020 (in thousands):
| Operating Leases |  | Finance Leases |  | Total
Remainder 2020 | $ | 139 |  | $ | 727 |  | $ | 866
2021 | 429 |  | 646 |  | 1,075
2022 | 172 |  | — |  | 172
2023 | 145 |  | — |  | 145
2024 | 149 |  | — |  | 149
Thereafter | 25 |  | — |  | 25
Total lease payments | 1,059 |  | 1,373 |  | 2,432
Less: Interest | (111) |  | (61) |  | (172)
Present value of lease liabilities | $ | 948 |  | $ | 1,312 |  | $ | 2,260
Lease term and discount rates for our operating and finance lease obligations are as follows:
Lease Term and Discount Rate |  | September 30, 2020
Weighted-average remaining lease term (years) |  |
Operating leases |  | 3.1
Finance leases |  | 0.3
Weighted-average discount rate |  |
Operating leases |  | 7.3%
Finance leases |  | 8.9%
The following table summarizes the supplemental cash flow information related to leases for the nine months ended September 30, 2020 and 2019:
Other information |  | September 30, 2020 |  | September 30, 2019
|  | (In thousands)
Cash paid for amounts included in the measurement of lease liabilities |  |  |  |
Operating cash flows from operating leases |  | $ | 287 |  | $ | 298
Financing cash flows from finance leases |  | 2,640 |  | 2,582
Interest paid |  | 400 |  | 510
Noncash activities from right-of-use assets obtained in exchange for lease obligations: |  |  |  |
Operating leases |  | $ | 1,163 |  | $ | 1,173

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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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