XML 66 R12.htm IDEA: XBRL DOCUMENT
v3.20.1

LEASES | 3 Months Ended
--- | ---
Mar. 31, 2020
LEASES |
LEASES |
4. | LEASES
​ The Company leases identified assets comprising real estate and equipment. Real estate leases consist primarily of office and warehouse space and equipment leases consist of vehicles and warehouse equipment. At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term, and (3) whether the Company has the right to direct the use of the asset. At inception of a lease, the Company allocates the consideration in the contract to each lease and non-lease component based on the component’s relative stand-alone price to determine the lease payments. Lease and non-lease components are accounted for separately. ​ Leases are classified as either finance leases or operating leases based on criteria in Accounting Standards Codification (“ASC”) 842. The Company’s operating leases are comprised of real estate and warehouse equipment, and the Company’s finance leases are comprised of vehicles. ​ Right-of-use (“ROU”) assets and lease liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As the Company’s leases generally do not provide an implicit rate, the Company uses its incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at the commencement date. ROU assets also include any lease payments made and exclude lease incentives. Lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. ​ Certain of the Company’s real estate leases contain variable lease payments, including payments based on an index or rate. Variable lease payments based on an index or rate are initially measured using the index or rate in effect at the lease commencement date. Additional payments based on the change in an index or rate, or payments based on a change in the Company’s portion of real estate taxes and insurance, are recorded as a period expense when incurred. ​ Lease expense for operating leases, consisting of lease payments, is recognized on a straight-line basis over the lease term and is included in operating expenses in the condensed consolidated statement of income. Lease expense for finance leases consists of the amortization of the ROU asset on a straight-line basis over the asset’s estimated useful life and is included in operating expenses in the condensed consolidated statement of income. Interest expense on finance leases is calculated using the amortized cost basis and is included in other income, net in the condensed consolidated statement of income. ​ The Company’s leases have remaining lease terms of less than one year to 14 years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. The Company has elected not to recognize ROU assets and lease liabilities for short-term operating leases that have a term of 12 months or less. ​ The components of lease cost were comprised of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three-Months | ​ | Three-Months
​ | ​ | Ended March 31, | ​ | Ended March 31,
​ |  | 2020 |  | 2019
Operating lease cost | ​ | $ | 1,445 | ​ | $ | 1,115
​ | ​ | ​ | ​ | ​ | ​ | ​
Short-term lease cost | ​ |  | 707 | ​ |  | 1,082
​ | ​ | ​ | ​ | ​ | ​ | ​
Variable lease cost | ​ |  | 162 | ​ |  | 165
​ | ​ | ​ | ​ | ​ | ​ | ​
Finance leases: | ​ | ​ | ​ | ​ | ​ | ​
Amortization of ROU assets | ​ |  | 148 | ​ |  | 80
Interest on lease liabilities | ​ |  | 11 | ​ |  | 15
Finance lease cost | ​ |  | 159 | ​ |  | 95
​ | ​ | ​ | ​ | ​ | ​ | ​
Total lease cost | ​ | $ | 2,473 | ​ | $ | 2,457
​ Supplemental cash flow information for the following periods: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three-Months | ​ | Three-Months
​ | ​ | Ended March 31, | ​ | Ended March 31,
​ |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  | ​ | ​ | ​ | ​ | ​
Operating cash flows from operating leases | ​ | $ | 1,083 | ​ | $ | 889
Operating cash flows from finance leases | ​ |  | 11 | ​ | ​ | 15
Financing cash flows from finance leases | ​ |  | 733 | ​ | ​ | 393
​ | ​ | ​ | ​ | ​ | ​ | ​
ROU assets obtained in exchange for lease obligations: | ​ | ​ | ​ | ​ | ​ | ​
Finance leases | ​ |  | 1,465 | ​ | ​ | 415
Operating leases | ​ |  | 1,163 | ​ | ​ | 26,429
​ ROU assets for operating and finance leases were comprised of the following at: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2020 | ​ | ​
​ |  | Real Estate |  | Equipment |  | Total |  | Balance Sheet Location
Operating leases | ​ | $ | 30,291 | ​ | $ | 384 | ​ | $ | 30,675 | ​ | Other Assets
Finance leases | ​ |  | — | ​ |  | 3,569 | ​ |  | 3,569 | ​ | Property and Equipment, net
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019 | ​ |
​ |  | Real Estate |  | Equipment |  | Total |  | Balance Sheet Location
Operating leases |  | $ | 30,926 |  | $ | 416 |  | $ | 31,342 |  | Other Assets
Finance leases | ​ |  | — | ​ |  | 2,632 | ​ |  | 2,632 |  | Property and Equipment, net
​ Operating and finance lease liabilities recognized in the condensed consolidated balance sheets were as follows at: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2020
​ | ​ | Operating Leases | ​ | Finance Leases
Accrued liabilities |  | $ | 2,830 |  | $ | 2,209
Other liabilities | ​ |  | 25,284 | ​ |  | —
Total | ​ | $ | 28,114 | ​ | $ | 2,209
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019
​ | ​ | Operating Leases | ​ | Finance Leases
Accrued liabilities |  | $ | 2,812 |  | $ | 1,485
Other liabilities | ​ |  | 25,651 | ​ |  | —
Total | ​ | $ | 28,463 | ​ | $ | 1,485
​ The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases at March 31, 2020 and December 31, 2019 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2020 | ​
​ |  | Operating Leases |  | Finance Leases |
Weighted-average remaining lease term (years) |  | 9.8 |  | 0.8 | ​
Weighted-average discount rate |  | 3.2 | % | 2.7 | %
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2019 | ​
​ |  | Operating Leases |  | Finance Leases | ​
Weighted-average remaining lease term (years) |  | 10.1 | ​ | ​ | 0.6 | ​
Weighted-average discount rate |  | 3.1 | % | ​ | 2.9 | %
​ The following table reconciles the undiscounted future lease payments for operating and finance leases to the operating and finance leases recorded in the condensed consolidated balance sheet at March 31, 2020: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Undiscounted Future Lease Payments
​ |  | Operating Leases |  | Finance Leases
2020 (excluding the three-months ended March 31, 2020) | ​ | $ | 2,806 | ​ | $ | 1,938
2021 | ​ |  | 3,450 | ​ |  | 296
2022 | ​ |  | 3,482 | ​ |  | —
2023 | ​ |  | 3,068 | ​ |  | —
2024 | ​ |  | 2,791 | ​ |  | —
2025 and thereafter | ​ |  | 17,692 | ​ |  | —
Total lease payments | ​ |  | 33,289 | ​ |  | 2,234
Less imputed interest | ​ |  | (5,175) | ​ |  | (25)
Total | ​ | $ | 28,114 | ​ | $ | 2,209
​ As of March 31, 2020, the Company did not have any significant additional operating or finance leases that have not yet commenced.

X
- Definition The entire disclosure of information about leases. + References No definition available. + Details
Name: | mnst_LeaseDisclosureTextBlock
Namespace Prefix: | mnst_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration