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Leases (Tables) | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Schedule of Operating Lease Assets and Operating Lease Liabilities | As of June 30, 2020 and December 31, 2019, the Company’s operating lease assets and operating lease liabilities were as follows:
(In thousands) |  | Classification |  | June 30, 2020 |  |  | December 31, 2019 |
Assets |  |  |  |  |  |  |  |  |  |
Operating lease asset |  | Other assets |  | $ | 5,973 |  |  | $ | 8,452 |
Total lease asset |  |  |  | $ | 5,973 |  |  | $ | 8,452 |
Liabilities |  |  |  |  |  |  |  |  |  |
Current operating lease liability |  | Accrued expenses |  | $ | 1,854 |  |  | $ | 2,676 |
Non-current operating lease liability |  | Other non-current liabilities |  |  | 4,134 |  |  |  | 5,818 |
Total lease liability |  |  |  | $ | 5,988 |  |  | $ | 8,494 |
Components of Lease Expense included in Condensed Consolidated Statement of Income (Loss) | Components of lease expense included in the Condensed Consolidated Statements of Income (Loss) for the three and six months ended June 30, 2020 and 2019 were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Selling, general and administrative expenses |  | $ | 271 |  |  | $ | 349 |  |  | $ | 598 |  |  | $ | 698 |
Research and development expenses |  |  | 251 |  |  |  | 430 |  |  |  | 676 |  |  |  | 884 |
Cost of sales |  |  | 26 |  |  |  | 17 |  |  |  | 47 |  |  |  | 33 |
Total operating lease expense |  | $ | 548 |  |  | $ | 796 |  |  | $ | 1,321 |  |  | $ | 1,615 |
Schedule of Maturity of Operating Lease Liabilities | As of June 30, 2020 and December 31, 2019, operating lease liabilities included on the Condensed Consolidated Balance Sheets by future maturity were as follows:
(In thousands) |  | June 30, 2020 |  |  | December 31, 2019 |
2020 |  | $ | 1,048 |  |  | $ | 2,856 |
2021 |  |  | 1,815 |  |  |  | 2,412 |
2022 |  |  | 1,514 |  |  |  | 1,705 |
2023 |  |  | 1,110 |  |  |  | 1,160 |
2024 |  |  | 478 |  |  |  | 482 |
Thereafter |  |  | 264 |  |  |  | 264 |
Total lease payments |  |  | 6,229 |  |  |  | 8,879 |
Less: Interest |  |  | (241 | ) |  |  | (385 | )
Present value of lease liabilities |  | $ | 5,988 |  |  | $ | 8,494 |
Schedule of Weighted Average Remaining Lease Terms and Weighted Average Discount Rates | The following table provides information about the weighted average lease terms and weighted average discount rates as of June 30, 2020:
|  | As of June 30, 2020 |
Weighted average remaining lease term (in years) |  |  |  |
Operating leases with USD functional currency |  |  | 2.5 |
Operating leases with Euro functional currency |  |  | 4.0 |
Weighted average discount rate |  |  |  |
Operating leases with USD functional currency |  |  | 4.46 | %
Operating leases with Euro functional currency |  |  | 1.83 | %
Schedule of Supplemental Cash Flow Information Related to Operating Leases | Supplemental cash flow information related to operating leases is as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Cash paid for amounts included in the measurement of operating lease assets / liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash used in operating activities related to operating leases |  | $ | 770 |  |  | $ | 797 |  |  | $ | 1,477 |  |  | $ | 1,608 |
Right-of-use assets obtained in exchange for lease obligations |  | $ | 8 |  |  | $ | 9 |  |  | $ | 93 |  |  | $ | 10,396 |
Net Investment in Sales-Type Leases | We are the lessor in sales-type lease arrangements for network equipment, which have initial terms of up to five years, and consisted of the following as of June 30, 2020 and December 31, 2019:
(In thousands) |  | June 30, 2020 |  |  | December 31, 2019 |
Current minimum lease payments receivable(1) |  | $ | 923 |  |  | $ | 1,201 |
Non-current minimum lease payments receivable(2) |  |  | 566 |  |  |  | 889 |
Total minimum lease payments receivable |  |  | 1,489 |  |  |  | 2,090 |
Less: Current unearned revenue |  |  | 265 |  |  |  | 365 |
Less: Non-current unearned revenue |  |  | 92 |  |  |  | 163 |
Net investment in sales-type leases |  | $ | 1,132 |  |  | $ | 1,562 |
| (1) | Included in other receivables on the Condensed Consolidated Balance Sheets.
| (2) | Included in other assets on the Condensed Consolidated Balance Sheets.
Schedule of Components of Gross Profit Related to Sales-type Leases and Interest and Dividend Income Included in Condensed Consolidated Statements of Income (Loss) | Components of gross profit related to sales-type leases recognized at the lease commencement date and interest and dividend income included in the Condensed Consolidated Statements of Income (Loss) for the three and six months ended June 30, 2020 and 2019 were as follows:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(In thousands) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Sales - Network Solutions |  | $ | 12 |  |  | $ | 109 |  |  | $ | 50 |  |  | $ | 1,621 |
Less: Cost of sales - Network Solutions |  |  | 4 |  |  |  | 44 |  |  |  | 20 |  |  |  | 635 |
Gross profit |  | $ | 8 |  |  | $ | 65 |  |  | $ | 30 |  |  | $ | 986 |
Interest and dividend income |  | $ | 11 |  |  | $ | 99 |  |  | $ | 24 |  |  | $ | 186 |

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