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Leases (Tables)
 9 Months Ended
Sep. 30, 2020
Leases [Abstract]  
Schedule of Operating Lease Assets and Operating Lease Liabilities As of September 30, 2020 and December 31, 2019, the Company’s operating lease assets and operating lease liabilities were as follows:

 

(In thousands)

 

Classification

 

September 30, 2020

 

 

December 31, 2019

 

Assets

 

 

 

 

 

 

 

 

 

 

Operating lease asset

 

Other assets

 

$

5,503

 

 

$

8,452

 

Total lease asset

 

 

 

$

5,503

 

 

$

8,452

 

 

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

 

 

Current operating lease liability

 

Accrued expenses

 

$

1,731

 

 

$

2,676

 

Non-current operating lease liability

 

Other non-current liabilities

 

 

3,788

 

 

 

5,818

 

Total lease liability

 

 

 

$

5,519

 

 

$

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 nine months ended September 30, 2020 and 2019 were as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Cost of sales

 

$

21

 

 

$

16

 

 

$

68

 

 

$

49

 

Selling, general and administrative expenses

 

 

265

 

 

 

352

 

 

 

863

 

 

 

1,050

 

Research and development expenses

 

 

368

 

 

 

847

 

 

 

1,044

 

 

 

1,731

 

Total operating lease expense

 

$

654

 

 

$

1,215

 

 

$

1,975

 

 

$

2,830

 

 
Schedule of Maturity of Operating Lease Liabilities

As of September 30, 2020 and December 31, 2019, operating lease liabilities included on the Condensed Consolidated Balance Sheets by future maturity were as follows:

 

(In thousands)

 

September 30, 2020

 

 

December 31, 2019

 

2020

 

$

518

 

 

$

2,856

 

2021

 

 

1,744

 

 

 

2,412

 

2022

 

 

1,514

 

 

 

1,705

 

2023

 

 

1,180

 

 

 

1,160

 

2024

 

 

499

 

 

 

482

 

Thereafter

 

 

276

 

 

 

264

 

Total lease payments

 

 

5,731

 

 

 

8,879

 

Less: Interest

 

 

(212

)

 

 

(385

)

Present value of lease liabilities

 

$

5,519

 

 

$

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 September 30, 2020 and December 31, 2019:

 

 

 

As of September 30, 2020

 

 

As of December 31, 2019

 

Weighted average remaining lease term (in years)

 

 

 

 

 

 

 

 

     Operating leases with USD functional currency

 

 

2.6

 

 

 

2.6

 

     Operating leases with Euro functional currency

 

 

3.8

 

 

 

4.4

 

Weighted average discount rate

 

 

 

 

 

 

 

 

     Operating leases with USD functional currency

 

 

4.50

%

 

 

4.02

%

     Operating leases with Euro functional currency

 

 

1.81

%

 

 

1.84

%

 
Schedule of Supplemental Cash Flow Information Related to Operating Leases

Supplemental cash flow information related to operating leases is as follows:

 

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 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

 

$

582

 

 

$

775

 

 

$

2,059

 

 

$

2,383

 

Right-of-use assets obtained in exchange for lease obligations

 

$

138

 

 

$

11,022

 

 

$

231

 

 

$

21,418

 

 
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 September 30, 2020 and December 31, 2019:

(In thousands)

 

September 30, 2020

 

 

December 31, 2019

 

Current minimum lease payments receivable(1)

 

$

811

 

 

$

1,201

 

Non-current minimum lease payments receivable(2)

 

 

450

 

 

 

889

 

Total minimum lease payments receivable

 

 

1,261

 

 

 

2,090

 

Less: Current unearned revenue

 

 

235

 

 

 

365

 

Less: Non-current unearned revenue

 

 

70

 

 

 

163

 

Net investment in sales-type leases

 

$

956

 

 

$

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 nine months ended September 30, 2020 and 2019 were as follows:

 

 

Three Months Ended

 

 

Nine Months Ended

 

 

 

September 30,

 

 

September 30,

 

(In thousands)

 

2020

 

 

2019

 

 

2020

 

 

2019

 

Sales - Network Solutions

 

$

22

 

 

$

47

 

 

$

72

 

 

$

1,668

 

Less: Cost of sales - Network Solutions

 

 

9

 

 

 

25

 

 

 

29

 

 

 

660

 

Gross profit

 

$

13

 

 

$

22

 

 

$

43

 

 

$

1,008

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Interest and dividend income

 

$

10

 

 

$

92

 

 

$

34

 

 

$

278