Quarterly report pursuant to Section 13 or 15(d)


9 Months Ended
Sep. 30, 2021
Leases [Abstract]  
Leases Leases
The Company’s operating leases are primarily for office space, service facility centers and equipment under operating lease arrangements that expire at various dates over the next ten years. The Company’s leases do not contain any restrictive covenants. The Company’s office leases generally contain renewal options for periods ranging from one to five years. Because the Company is not reasonably certain to exercise these renewal options, the options are not considered in determining the lease term, and payments associated with the option years are excluded from lease payments. The Company’s office leases do not contain any material residual value guarantees. The Company’s equipment leases generally do not contain renewal options.
Payments due under the Company’s operating leases include fixed payments as well as variable payments. For the Company’s office leases, variable payments include amounts for the Company’s proportionate share of operating expenses, utilities, property taxes, insurance, common area maintenance and other facility-related expenses. For the Company’s equipment leases, variable payments may consist of sales taxes, property taxes and other fees.
The components of lease costs for the three and nine months ended September 30, 2021 and 2020 are as follows (in thousands):
  Three Months Ended
September 30,
Nine Months Ended
September 30,
  2021 2020 2021 2020
Operating lease cost $ 302  $ 410  $ 998  $ 1,238 
Variable lease cost 65  64  180  253 
Total lease cost $ 367  $ 474  $ 1,178  $ 1,491 
Supplemental cash flow information and non-cash activity related to the Company’s leases are as follows (in thousands):
  Nine Months Ended
September 30,
2021 2020
Cash paid for amounts included in the measurement of lease liabilities and right of use assets:    
Operating cash flow from operating leases $ 993  $ 1,130 
Right of use assets obtained in exchange for lease obligations:
Operating leases $ 288  $ 260 
Weighted average remaining lease terms and discount rates for the Company’s operating leases are as follows:
  As of September 30,
  2021 2020
Weighted average remaining lease term: 6.3 7.1
  Rate Rate
Weighted average discount rate: 7.7% 7.8%
Future maturities of lease liabilities as of September 30, 2021 are as follows (in thousands):
2021 $ 276 
2022 1,183 
2023 979 
2024 949 
2025 914 
2026 and thereafter
Total undiscounted lease payments 6,554 
Less: Imputed interest (2,290)
Total lease liabilities $ 4,264