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LEASES (Tables)

12 Months Ended

Dec. 31, 2019

Summary of Operating Lease Assets and Liabilities

Leases (In thousands)	Classification	December 31, 2019
Assets:
Operating	Other assets	$	4,338
Liabilities:
Current
Operating	Other current liabilities		501
Noncurrent
Operating	Other liabilities and deferred credits		4,274
Total lease liabilities		$	4,775

Summary of Maturity of Operating Lease Liabilities

Maturity of lease liabilities (In thousands)	Operating leases
2020	$	1,315
2021		1,277
2022		1,072
2023		754
2024		311
After 2024		933
Total lease payments	$	5,662
Less: Interest		887
Present value of lease liabilities	$	4,775

Summary of Lease Costs

		Year Ended
Lease costs (In thousands)	Classification	December 31, 2019
Operating lease costs	General and administrative		1,336
Short-term leases	General and administrative		4,840
Variable lease costs	General and administrative		313
Sublease income	General and administrative		(3	)
Net lease cost			6,486

As of December 31, 2018, we had long-term operating leases for office space, automobiles, temporary residences and office equipment. Aggregate operating lease expenses are as follows:

Successor

Predecessor

Period from

Year

August 1, 2017

April 1, 2017

Ended

through

December 31, 2018

December 31, 2017

July 31,

2017

Lease expenses:

Office and other leases

3,840

1,861

1,697

Vessel operating leases

—

1,215

6,166

Total lease expense

3,840

3,076

7,863

Summary of Lease Term and Discount Rate

Lease term and discount rate	December 31, 2019
Weighted average remaining lease term in years		3.7
Weighted average discount rate		7.0	%