Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

v3.19.3
Leases (Tables)
9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Schedule of changes due to the adoption of ASC Topic 842

The changes due to the adoption of ASC Topic 842 were as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

ASC 842

 

 

 

 

 

December 31, 2018

 

Adjustments

 

January 1, 2019

Assets

 

 

 

 

 

 

 

 

 

Operating lease right-of-use assets

 

$

 

$

41,868

 

$

41,868

Liabilities

 

 

 

 

 

 

 

 

 

Current portion of operating lease liabilities

 

$

 

$

3,212

 

$

3,212

Operating lease liability, net of current portion

 

 

 —

 

 

55,679

 

 

55,679

Deferred gift card revenue and other

 

 

947

 

 

(249)

 

 

698

Deferred rent and tenant improvement allowances

 

$

16,774

 

$

(16,774)

 

$

 

Schedule of components of lease expense

The components of lease expense for the period were as follows (in thousands):

 

 

 

 

 

 

 

 

September 30, 

 

 

 

2019

 

Lease cost

 

 

 

 

Operating lease cost

 

$

5,040

 

Variable lease cost

 

 

1,811

 

Short-term lease cost

 

 

273

 

Sublease income

 

 

(582)

 

Total lease cost

 

$

6,542

 

 

 

 

 

 

Weighted average remaining lease term – operating leases

 

 

14 years

 

Weighted average discount rate – operating leases

 

 

8.22

%

 

Schedule of supplemental cash flow information related to leases

Supplemental cash flow information related to leases for the period was as follows (in thousands):

 

 

 

 

 

 

 

September 30, 

 

 

2019

Cash paid for amounts included in the measurement of operating lease liabilities

 

$

5,212

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

 

$

1,076

 

Schedule of maturities of operating lease liabilities

As of September 30, 2019, maturities of the Company’s operating lease liabilities are as follows (in thousands):

 

 

 

 

 

2019, three months remaining

 

$

1,844

2020

 

 

7,088

2021

 

 

6,839

2022

 

 

6,971

2023

 

 

7,117

Thereafter

 

 

69,929

Total lease payments

 

 

99,788

Less: imputed interest

 

 

(42,525)

Present value of operating lease liabilities

 

$

57,263