Leases (Tables)

3 Months Ended

Mar. 31, 2020

The Company’s lease assets and related lease liabilities were as follows (in thousands):

	Balance Sheet Line Item	March 31, 2020			December 31, 2019
Assets
Finance:
Right-of-use assets - cost		$	49,918		$	49,909
Accumulated amortization			(12,901	)		(10,307	)
Finance lease right-of-use assets, net	Finance lease right-of-use assets		37,017			39,602
Operating:
Right-of-use assets - cost			2,736			2,736
Accumulated amortization			(1,078	)		(805	)
Operating lease right-of-use assets, net	Other assets		1,658			1,931
Total lease assets		$	38,675		$	41,533

Liabilities
Current:
Finance lease liabilities	Finance lease liabilities, current	$	12,396		$	12,351
Operating lease liabilities	Accrued and other current liabilities		900			983
Non-current:
Finance lease liabilities	Finance lease liabilities, non-current		34,545			37,610
Operating lease liabilities	Other long-term liabilities		678			942
Total lease liabilities		$	48,519		$	51,886

The components of lease expense were as follows (in thousands):

		Three Months Ended March 31,
	Statement of Operations Line Item	2020			2019
Finance lease cost:
Amortization of right-of-use assets	Cost of goods sold; Research and development; Selling, general and administrative expenses	$	2,594		$	2,569
Interest on lease liabilities	Interest expense		515			640
Operating lease cost	Cost of goods sold; Research and development; Selling, general and administrative expenses		309			126
Sublease income	Selling, general and administrative expenses		(292	)		(588	)
Total lease cost		$	3,126		$	2,747

Supplemental cash flow information related to leases were as follows (in thousands):

	Three Months Ended March 31,
	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	149	$	99
Operating cash flows from finance leases		517		435
Financing cash flows from finance leases		2,814		3,017
Right-of-use assets obtained in exchange for new lease liabilities:
Finance leases		9		49,598
Operating leases	$	—	$	730

Lease term and discount rate were as follows:

	March 31, 2020			December 31, 2019
Weighted-average remaining lease term (years):
Finance leases		3.4			3.6
Operating leases		1.9			2.1
Weighted-average discount rate:
Finance leases		4.42	%		4.42	%
Operating leases		4.75	%		4.75	%

Maturities of lease liabilities as of March 31, 2020 are as follows (in thousands):

Year Ending	Finance Leases			Operating Leases
2020 (Remaining nine month period)	$	10,535		$	689
2021		13,680			657
2022		13,883			302
2023		12,523			—
Total future lease payments		50,621			1,648
Less: Interest		(3,680	)		(70	)
Present value of lease liabilities	$	46,941		$	1,578