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Leases | 6 Months Ended
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Jun. 30, 2022
Leases [Abstract] |
Leases | LEASES Right of Use Assets and Liabilities The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
| Three months ended June 30, |  | Six months ended June 30,
In thousands | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Lease Cost |  |  |  |  |  |  |  |  |
Operating lease cost | $ | 3,016 |  |  | $ | 3,180 |  |  | $ | 5,895 |  |  | $ | 6,331 |  |  |
Short-term operating lease cost | $ | 2,706 |  |  | $ | 2,054 |  |  | $ | 5,451 |  |  | $ | 5,099 |  |  |
Finance Lease Cost: |  |  |  |  |  |  |  |  |
Amortization of leased assets | $ | 5,161 |  |  | $ | 5,039 |  |  | $ | 10,368 |  |  | $ | 10,927 |  |  |
Interest on lease liabilities | $ | 1,354 |  |  | 1,018 |  |  | 2,576 |  |  | 1,607 |  |  |
Total finance lease cost | $ | 6,515 |  |  | $ | 6,057 |  |  | $ | 12,944 |  |  | $ | 12,534 |  |  |
Supplemental cash flow information related to leases was as follows:
| Three months ended June 30, |  | Six months ended June 30,
In thousands | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Other Information |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 5,722 |  |  | $ | 5,234 |  |  | $ | 11,346 |  |  | $ | 11,635 |  |  |
Operating cash flows from finance leases | $ | 1,354 |  |  | $ | 1,018 |  |  | 2,576 |  |  | $ | 1,607 |  |  |
Financing cash flows from finance leases | $ | 7,669 |  |  | $ | 9,365 |  |  | $ | 15,908 |  |  | $ | 15,028 |  |  |
Supplemental balance sheet information related to leases was as follows:
In thousands | June 30, 2022 |  | December 31, 2021
Operating Leases |  |  |
Other assets, non-current | $ | 25,903 |  |  | $ | 30,987 |
Accrued liabilities and other | 11,076 |  |  | 11,301 |
Other long-term liabilities | 13,843 |  |  | 18,660 |
Total operating lease liabilities | $ | 24,919 |  |  | $ | 29,961 |
Finance Leases |  |  |
Property and equipment, gross | $ | 125,984 |  |  | $ | 115,597 |
Accumulated depreciation | (69,719) |  |  | (63,879) |
Property and equipment, net | $ | 56,265 |  |  | $ | 51,718 |
Debt, current | $ | 28,670 |  |  | $ | 29,821 |
Debt, non-current | 35,088 |  |  | 24,407 |
Total finance lease liabilities | $ | 63,758 |  |  | $ | 54,228 |
Weighted Average Remaining Lease Term |  |  |
Weighted-average remaining lease term - finance leases | 1.85 |  | 1.62
Weighted-average remaining lease term - operating leases | 2.75 |  | 3.17
Weighted Average Discount Rate |  |  |
Weighted-average discount rate - finance leases | 4.97 | % |  | 5.08 | %
Weighted-average discount rate - operating leases | 5.20 | % |  | 5.20 | %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of June 30, 2022 (In thousands) |  |  |
| Operating leases |  | Finance leases
2022 | $ | 5,715 |  |  | $ | 14,092 |
2023 | 10,878 |  |  | 21,096 |
2024 | 8,812 |  |  | 13,977 |
2025 | 213 |  |  | 12,428 |
2026 | 220 |  |  | 6,517 |
Thereafter | 946 |  |  | 1,239 |
Total | $ | 26,784 |  |  | $ | 69,349 |
Less: imputed interest | (1,865) |  |  | (5,591) |
Net lease obligation | $ | 24,919 |  |  | $ | 63,758 |
Leases | LEASES Right of Use Assets and Liabilities The following table summarizes quantitative information pertaining to the Company’s finance and operating leases.
| Three months ended June 30, |  | Six months ended June 30,
In thousands | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Lease Cost |  |  |  |  |  |  |  |  |
Operating lease cost | $ | 3,016 |  |  | $ | 3,180 |  |  | $ | 5,895 |  |  | $ | 6,331 |  |  |
Short-term operating lease cost | $ | 2,706 |  |  | $ | 2,054 |  |  | $ | 5,451 |  |  | $ | 5,099 |  |  |
Finance Lease Cost: |  |  |  |  |  |  |  |  |
Amortization of leased assets | $ | 5,161 |  |  | $ | 5,039 |  |  | $ | 10,368 |  |  | $ | 10,927 |  |  |
Interest on lease liabilities | $ | 1,354 |  |  | 1,018 |  |  | 2,576 |  |  | 1,607 |  |  |
Total finance lease cost | $ | 6,515 |  |  | $ | 6,057 |  |  | $ | 12,944 |  |  | $ | 12,534 |  |  |
Supplemental cash flow information related to leases was as follows:
| Three months ended June 30, |  | Six months ended June 30,
In thousands | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Other Information |  |  |  |  |  |  |  |  |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |  |  |
Operating cash flows from operating leases | $ | 5,722 |  |  | $ | 5,234 |  |  | $ | 11,346 |  |  | $ | 11,635 |  |  |
Operating cash flows from finance leases | $ | 1,354 |  |  | $ | 1,018 |  |  | 2,576 |  |  | $ | 1,607 |  |  |
Financing cash flows from finance leases | $ | 7,669 |  |  | $ | 9,365 |  |  | $ | 15,908 |  |  | $ | 15,028 |  |  |
Supplemental balance sheet information related to leases was as follows:
In thousands | June 30, 2022 |  | December 31, 2021
Operating Leases |  |  |
Other assets, non-current | $ | 25,903 |  |  | $ | 30,987 |
Accrued liabilities and other | 11,076 |  |  | 11,301 |
Other long-term liabilities | 13,843 |  |  | 18,660 |
Total operating lease liabilities | $ | 24,919 |  |  | $ | 29,961 |
Finance Leases |  |  |
Property and equipment, gross | $ | 125,984 |  |  | $ | 115,597 |
Accumulated depreciation | (69,719) |  |  | (63,879) |
Property and equipment, net | $ | 56,265 |  |  | $ | 51,718 |
Debt, current | $ | 28,670 |  |  | $ | 29,821 |
Debt, non-current | 35,088 |  |  | 24,407 |
Total finance lease liabilities | $ | 63,758 |  |  | $ | 54,228 |
Weighted Average Remaining Lease Term |  |  |
Weighted-average remaining lease term - finance leases | 1.85 |  | 1.62
Weighted-average remaining lease term - operating leases | 2.75 |  | 3.17
Weighted Average Discount Rate |  |  |
Weighted-average discount rate - finance leases | 4.97 | % |  | 5.08 | %
Weighted-average discount rate - operating leases | 5.20 | % |  | 5.20 | %
Minimum future lease payments under finance and operating leases with terms longer than one year are as follows:
As of June 30, 2022 (In thousands) |  |  |
| Operating leases |  | Finance leases
2022 | $ | 5,715 |  |  | $ | 14,092 |
2023 | 10,878 |  |  | 21,096 |
2024 | 8,812 |  |  | 13,977 |
2025 | 213 |  |  | 12,428 |
2026 | 220 |  |  | 6,517 |
Thereafter | 946 |  |  | 1,239 |
Total | $ | 26,784 |  |  | $ | 69,349 |
Less: imputed interest | (1,865) |  |  | (5,591) |
Net lease obligation | $ | 24,919 |  |  | $ | 63,758 |

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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