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Leases

3 Months Ended

Mar. 31, 2019

Leases [Abstract]

Leases

4.        Leases

Solitario adopted ASU 2016-02 effective January 1, 2019 and accounts for its leases in accordance with ASC 842. Solitario leases one facility, its Wheat Ridge, Colorado office (the “WR Lease”), that has a term of more than one year. Solitario has no other material operating lease costs. The WR Lease is classified as an operating lease and has a term of 23 months at March 31, 2019, with no renewal option. At March 31, 2019, the right-of-use office lease asset for the WR Lease is classified as other assets and the related liability separated between current and non-current office lease liabilities in the condensed consolidated balance sheet. Lease expense is recognized on a straight-line basis over the lease term, with variable lease payments recognized in the period those payments are incurred. During the three months ended March 31, 2019, Solitario recognized $10,000 of non-cash lease expense for the WR Lease included in general and administrative expense. Cash lease payments of $7,000 were made on the WR Lease during the three months ended March 31, 2019 and this amount, less $1,000 of imputed interest, reduced the related liability on the WR Lease. The discount rate within the WR Lease is not determinable and Solitario has applied a discount rate of 5% based upon Solitario’s estimate of its cost of capital.

The maturities of Solitario’s lease liability for its WR Lease are as follows at March 31, 2019:

(in thousands)
2019	$   31
2020	42
2021	7
Total lease payments	80
Less amount of payments representing interest	(4)
Present value of lease payments	$  76

Supplemental cash flow information related to our operating lease was as follows for the period ended March 31, 2019:

(in thousands)	Three months ended March 31,
	2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash outflows from WR Lease payments	$ 7
Non-cash amounts related to the WR lease
Leased assets recorded in exchange for new operating lease liabilities	$82

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- References

No definition available.

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- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-URI http://asc.fasb.org/topic&trid=2208923

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