Leases (Details Textual) $ in Thousands |
3 Months Ended | |||
|---|---|---|---|---|
|
Oct. 01, 2016
USD ($)
|
Oct. 01, 2014
USD ($)
|
Jun. 01, 2014
USD ($)
|
Mar. 31, 2019
USD ($)
leases
|
|
| Leases (Textual) | ||||
| Initial lease rate | $ 8,931 | $ 14,225 | $ 6,984 | |
| Operating expenses for building repairs and maintenance | $ 6,411 | $ 8,985 | $ 276 | |
| Lease, description | The first operating lease is for its administrative office in Palo Alto, California, effective October 1, 2014, for five years. The initial lease rate was $14,225 per month with escalating payments. In connection with the lease, the Company is obligated to pay $8,985 monthly for operating expenses for building repairs and maintenance. The second operating lease is for its administrative office in Encino, CA. This lease was effective June 1, 2014 and will end on July 31, 2021. The current lease rate is $6,984 per month and $276 per month for the common area maintenance. The third operating lease is for its administrative office in Coquitlam, Canada, from October 1, 2016 through September 30 ,2021. The initial lease rate was $8,931 CAD per month with escalating payments. In connection with the lease, the Company is obligated to pay $6,411 CAD monthly for operating expenses for building repairs and maintenance. The Company has no other operating or financing leases with terms greater than 12 months. | |||
| Adopted ASC, description | The Company adopted ASC Topic 842, Leases (“ASC Topic 842”) effective January 1, 2019 using the prospective approach. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less. On January 1, 2019, upon adoption of ASC Topic 842, the Company recorded right-of-use asset of $641,992, lease liability of $683,575 and eliminated deferred rent of $41,583. The Company determined the lease liability using the Company’s estimated incremental borrowing rate of 8.0% to estimate the present value of the remaining monthly lease payments. | |||
| Rent expense, right-of-use assets | $ 91,667 | |||
| Number of lease | leases | 3 |