| Leases |
Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. These leases have remaining lease terms of one month to five years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within one year. As of September 30, 2021 and December 31, 2020, assets recorded under finance leases were $0.3 million and $0.4 million, respectively, and accumulated depreciation associated with finance leases were $0.5 million and $0.4 million, respectively.
Also, the Company rents or subleases certain real estate to third parties, which are accounted for as operating leases.
Leases with an initial term of 12 months or less are not recorded on the balance sheet.
The components of lease expense were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
Operating lease cost |
$ |
1,379 |
|
|
$ |
1,784 |
|
|
|
|
|
Finance lease cost |
|
|
|
Amortization of lease expense |
27 |
|
|
26 |
|
Interest on lease liabilities |
3 |
|
|
3 |
|
|
|
|
|
| Sublease income |
(235) |
|
|
(206) |
|
|
|
|
|
| Total lease cost, net |
$ |
1,174 |
|
|
$ |
1,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Operating lease cost |
$ |
3,893 |
|
|
$ |
5,172 |
|
|
|
|
|
| Finance lease cost |
|
|
|
| Amortization of lease expense |
81 |
|
|
78 |
|
| Interest on lease liabilities |
8 |
|
|
11 |
|
|
|
|
|
| Sublease income |
(709) |
|
|
(567) |
|
|
|
|
|
| Total lease cost, net |
$ |
3,273 |
|
|
$ |
4,694 |
|
Other information related to leases was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Supplemental Cash Flow Information |
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
| Operating cash flows from operating leases |
$ |
1,414 |
|
|
$ |
1,489 |
|
| Operating cash flows from finance leases |
3 |
|
|
3 |
|
| Financing cash flows from finance leases |
27 |
|
|
26 |
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease liabilities: |
|
|
|
| Operating leases |
$ |
— |
|
|
— |
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Supplemental Cash Flow Information |
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
| Operating cash flows from operating leases |
$ |
3,903 |
|
|
$ |
4,369 |
|
| Operating cash flows from finance leases |
8 |
|
|
11 |
|
| Financing cash flows from finance leases |
81 |
|
|
78 |
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease liabilities: |
|
|
|
| Operating leases |
$ |
— |
|
|
$ |
7,652 |
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Weighted Average Remaining Lease Term |
|
|
|
|
|
|
|
| Operating leases |
6.44 years |
|
6.93 years |
| Finance leases |
2.92 years |
|
3.92 years |
|
|
|
|
| Weighted Average Discount Rate |
|
|
|
|
|
|
|
| Operating leases |
6.10 |
% |
|
6.10 |
% |
| Finance leases |
3.00 |
% |
|
3.00 |
% |
Future minimum lease payments under non-cancellable leases as of September 30, 2021, is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2021 |
Operating Leases |
|
Finance Leases |
2021 (excluding the nine months ended September 30, 2021) |
$ |
950 |
|
|
$ |
29 |
|
| 2022 |
3,529 |
|
|
119 |
|
| 2023 |
3,303 |
|
|
119 |
|
| 2024 |
2,940 |
|
|
79 |
|
| 2025 |
2,648 |
|
|
— |
|
Thereafter |
6,811 |
|
|
— |
|
|
|
|
|
Total future minimum lease payments |
20,181 |
|
|
346 |
|
Less: imputed interest |
3,667 |
|
|
15 |
|
Total lease liabilities |
16,514 |
|
|
331 |
|
Less: current portion |
2,658 |
|
|
110 |
|
Long-term lease liabilities |
$ |
13,856 |
|
|
$ |
221 |
|
As of September 30, 2021, the Company does not have additional operating and finance leases that have not yet commenced.
|
| Leases |
Leases The Company has operating and finance leases for corporate offices, physicians’ offices, and certain equipment. These leases have remaining lease terms of one month to five years, some of which may include options to extend the leases for up to 10 years, and some of which may include options to terminate the leases within one year. As of September 30, 2021 and December 31, 2020, assets recorded under finance leases were $0.3 million and $0.4 million, respectively, and accumulated depreciation associated with finance leases were $0.5 million and $0.4 million, respectively.
Also, the Company rents or subleases certain real estate to third parties, which are accounted for as operating leases.
Leases with an initial term of 12 months or less are not recorded on the balance sheet.
The components of lease expense were as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
Operating lease cost |
$ |
1,379 |
|
|
$ |
1,784 |
|
|
|
|
|
Finance lease cost |
|
|
|
Amortization of lease expense |
27 |
|
|
26 |
|
Interest on lease liabilities |
3 |
|
|
3 |
|
|
|
|
|
| Sublease income |
(235) |
|
|
(206) |
|
|
|
|
|
| Total lease cost, net |
$ |
1,174 |
|
|
$ |
1,607 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Operating lease cost |
$ |
3,893 |
|
|
$ |
5,172 |
|
|
|
|
|
| Finance lease cost |
|
|
|
| Amortization of lease expense |
81 |
|
|
78 |
|
| Interest on lease liabilities |
8 |
|
|
11 |
|
|
|
|
|
| Sublease income |
(709) |
|
|
(567) |
|
|
|
|
|
| Total lease cost, net |
$ |
3,273 |
|
|
$ |
4,694 |
|
Other information related to leases was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended
September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Supplemental Cash Flow Information |
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
| Operating cash flows from operating leases |
$ |
1,414 |
|
|
$ |
1,489 |
|
| Operating cash flows from finance leases |
3 |
|
|
3 |
|
| Financing cash flows from finance leases |
27 |
|
|
26 |
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease liabilities: |
|
|
|
| Operating leases |
$ |
— |
|
|
— |
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Supplemental Cash Flow Information |
|
|
|
|
|
|
|
| Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
| Operating cash flows from operating leases |
$ |
3,903 |
|
|
$ |
4,369 |
|
| Operating cash flows from finance leases |
8 |
|
|
11 |
|
| Financing cash flows from finance leases |
81 |
|
|
78 |
|
|
|
|
|
| Right-of-use assets obtained in exchange for lease liabilities: |
|
|
|
| Operating leases |
$ |
— |
|
|
$ |
7,652 |
|
|
|
|
|
|
Nine Months Ended September 30, |
|
2021 |
|
2020 |
|
|
|
|
| Weighted Average Remaining Lease Term |
|
|
|
|
|
|
|
| Operating leases |
6.44 years |
|
6.93 years |
| Finance leases |
2.92 years |
|
3.92 years |
|
|
|
|
| Weighted Average Discount Rate |
|
|
|
|
|
|
|
| Operating leases |
6.10 |
% |
|
6.10 |
% |
| Finance leases |
3.00 |
% |
|
3.00 |
% |
Future minimum lease payments under non-cancellable leases as of September 30, 2021, is as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, 2021 |
Operating Leases |
|
Finance Leases |
2021 (excluding the nine months ended September 30, 2021) |
$ |
950 |
|
|
$ |
29 |
|
| 2022 |
3,529 |
|
|
119 |
|
| 2023 |
3,303 |
|
|
119 |
|
| 2024 |
2,940 |
|
|
79 |
|
| 2025 |
2,648 |
|
|
— |
|
Thereafter |
6,811 |
|
|
— |
|
|
|
|
|
Total future minimum lease payments |
20,181 |
|
|
346 |
|
Less: imputed interest |
3,667 |
|
|
15 |
|
Total lease liabilities |
16,514 |
|
|
331 |
|
Less: current portion |
2,658 |
|
|
110 |
|
Long-term lease liabilities |
$ |
13,856 |
|
|
$ |
221 |
|
As of September 30, 2021, the Company does not have additional operating and finance leases that have not yet commenced.
|