Leases |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases |
Leases
The Company currently maintains one finance lease for equipment and two operating leases for real estate. Our finance lease is immaterial to our condensed consolidated financial statements. Our operating leases have terms of 76 and 42 months and include one or more options to extend the duration of the agreements. These operating leases are included in "Other assets" on the Company's September 30, 2019 condensed consolidated balance sheet and represent the Company's right to use the underlying assets for the term of the leases. The Company's obligation to make lease payments are included in "Lease liability, current portion" and "Lease liability, non-current portion" on the Company's September 30, 2019 condensed consolidated balance sheet. The Company recognized sublease income of $105,000 and $253,750 for the three and nine months ended September 30, 2019, respectively.
Based on the present value of the lease payments for the remaining lease term of the Company's existing leases, as of September 30, 2019, total right-of-use assets were approximately $1.31 million and operating lease liabilities were approximately $1.51 million. The right-of-use assets are reported in "Other Assets" in the condensed consolidated balance sheet.
Information related to the Company's right-of-use assets and related lease liabilities were as follows (in thousands):
Maturities of lease liabilities as of September 30, 2019 were as follows (in thousands):
Note: Excludes a finance lease with current liability of $6 and a non-current liability of $27.
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