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Leases (Notes) | 12 Months Ended
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Dec. 31, 2020
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | LeasesOn January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2025, some of which include options to extend for up to five years. The Company measures its lease liability as the present value of the lease payments to be made over the lease term discounted using the Company’s incremental borrowing rate. The Company measures its ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. Finance Lease Obligations During 2017, the Company entered into two to four-year lease agreements for certain office equipment with Cisco Systems Capital Corporation for a total of approximately $4.4 million, which was recorded in fixed assets as capital lease obligations. These capital lease obligations are included in current liabilities and other long-term liabilities in the accompanying consolidated balance sheets. The interest rates for these two capital leases are 2.89% and 3.50%, respectively, and the two leases will mature in May 2021 and July 2021, respectively. The following table provides a summary of leases included on the consolidated balance sheets, consolidated statements of earnings, and consolidated statements of cash flows as of December 31, 2020:
| Consolidated Balance Sheets Line Item | At December 31,
|  | 2020 | 2019
(in thousands) |  |  |
Operating leases |  |  |
Assets |  |  |
Operating leases | Operating lease right-of-use assets | $ | 45,792 |  | $ | 35,436 |
Liabilities |  |  |
Operating-current | Accrued expenses and other current liabilities | $ | 9,143 |  | $ | 7,392 |
Operating-noncurrent | Operating lease liabilities | 37,199 |  | 27,930 |
Total operating lease liabilities |  | $ | 46,342 |  | $ | 35,322 |
Finance leases |  |  |
Assets |  |  |
Property and equipment, gross | Property, plant and equipment, net | $ | 3,569 |  | $ | 3,569 |
Accumulated amortization | Property, plant and equipment, net | (3,112) |  | (2,739) |
Property and equipment, net | Property, plant and equipment, net | $ | 457 |  | $ | 830 |
Liabilities |  |  |
Other current liabilities | Accrued expenses and other current liabilities | $ | 384 |  | $ | 1,125 |
Other long-term liabilities | Deferred income tax and other long-term liabilities | — |  | 386 |
Total finance lease liabilities |  | $ | 384 |  | $ | 1,511 |
The components of lease expense were as follows:
| Consolidated Statements of Operations Line Item | Years Ended December 31, |
(in thousands) |  | 2020 | 2019 |
Operating lease cost | General administrative expenses and cost of sales | $ | 9,804 |  | $ | 9,234 |  |
Finance lease cost: |  |  |  |
Amortization of right-of-use assets | General administrative expenses | 864 |  | $ | 872 |  |
Interest on lease liabilities | Interest expense, net | 30 |  | 68 |  |
Total finance lease cost |  | $ | 894 |  | $ | 940 |  |
Other information Supplemental cash flow information related to leases is as follows:
| Years Ended December 31, |
(in thousands) | 2020 | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $ | 9,306 |  | $ | 8,988 |  |
Finance cash flows for finance leases | 1,160 |  | 1,160 |  |
Operating right-of-use assets obtained in exchange for new lease liabilities |  |  |
Operating leases | 20,308 |  | 5,920 |  |
following is a schedule, by years, of maturities for lease liabilities as of December 31, 2020:
(in thousands) | Operating Leases | Finance Leases
2021 | $ | 10,696 |  | $ | 387 |
2022 | 8,862 |  | — |
2023 | 6,751 |  | — |
2024 | 5,303 |  | — |
2025 | 5,046 |  | — |
Thereafter | 19,196 |  | — |
Total lease payments | 55,854 |  | 387 |
Less: Present value discount | (9,512) |  | (3) |
Total lease liabilities | $ | 46,342 |  | $ | 384 |
The following table summarizes the Company’s lease terms and discount rates as of December 31, 2020:
| Years Ended December 31, |  |
| 2020 | 2019 |  |
Weighted-average remaining lease terms (in years): |  |  |  |
Operating leases | 7.27 | 6.54 |  |
Finance leases | 0.42 | 1.44 |  |
Weighted-average discount rate: |  |  |  |
Operating leases | 5.29 | % | 5.37 | % |  |
Finance leases | 3.3 | % | 3.23 | % |  |
Lessee, Finance Leases [Text Block] | LeasesOn January 1, 2019, the Company adopted ASU 2016-02 using the optional transition method. The Company has operating leases for certain facilities, equipment and autos. The existing operating leases expire at various dates through 2025, some of which include options to extend for up to five years. The Company measures its lease liability as the present value of the lease payments to be made over the lease term discounted using the Company’s incremental borrowing rate. The Company measures its ROU assets at the amount at which the lease liability is recognized plus initial direct costs incurred or prepayment amounts. The ROU assets are amortized on a straight-line basis over the lease term. Finance Lease Obligations During 2017, the Company entered into two to four-year lease agreements for certain office equipment with Cisco Systems Capital Corporation for a total of approximately $4.4 million, which was recorded in fixed assets as capital lease obligations. These capital lease obligations are included in current liabilities and other long-term liabilities in the accompanying consolidated balance sheets. The interest rates for these two capital leases are 2.89% and 3.50%, respectively, and the two leases will mature in May 2021 and July 2021, respectively. The following table provides a summary of leases included on the consolidated balance sheets, consolidated statements of earnings, and consolidated statements of cash flows as of December 31, 2020:
| Consolidated Balance Sheets Line Item | At December 31,
|  | 2020 | 2019
(in thousands) |  |  |
Operating leases |  |  |
Assets |  |  |
Operating leases | Operating lease right-of-use assets | $ | 45,792 |  | $ | 35,436 |
Liabilities |  |  |
Operating-current | Accrued expenses and other current liabilities | $ | 9,143 |  | $ | 7,392 |
Operating-noncurrent | Operating lease liabilities | 37,199 |  | 27,930 |
Total operating lease liabilities |  | $ | 46,342 |  | $ | 35,322 |
Finance leases |  |  |
Assets |  |  |
Property and equipment, gross | Property, plant and equipment, net | $ | 3,569 |  | $ | 3,569 |
Accumulated amortization | Property, plant and equipment, net | (3,112) |  | (2,739) |
Property and equipment, net | Property, plant and equipment, net | $ | 457 |  | $ | 830 |
Liabilities |  |  |
Other current liabilities | Accrued expenses and other current liabilities | $ | 384 |  | $ | 1,125 |
Other long-term liabilities | Deferred income tax and other long-term liabilities | — |  | 386 |
Total finance lease liabilities |  | $ | 384 |  | $ | 1,511 |
The components of lease expense were as follows:
| Consolidated Statements of Operations Line Item | Years Ended December 31, |
(in thousands) |  | 2020 | 2019 |
Operating lease cost | General administrative expenses and cost of sales | $ | 9,804 |  | $ | 9,234 |  |
Finance lease cost: |  |  |  |
Amortization of right-of-use assets | General administrative expenses | 864 |  | $ | 872 |  |
Interest on lease liabilities | Interest expense, net | 30 |  | 68 |  |
Total finance lease cost |  | $ | 894 |  | $ | 940 |  |
Other information Supplemental cash flow information related to leases is as follows:
| Years Ended December 31, |
(in thousands) | 2020 | 2019 |
Cash paid for amounts included in the measurement of lease liabilities: |  |  |
Operating cash flows for operating leases | $ | 9,306 |  | $ | 8,988 |  |
Finance cash flows for finance leases | 1,160 |  | 1,160 |  |
Operating right-of-use assets obtained in exchange for new lease liabilities |  |  |
Operating leases | 20,308 |  | 5,920 |  |
following is a schedule, by years, of maturities for lease liabilities as of December 31, 2020:
(in thousands) | Operating Leases | Finance Leases
2021 | $ | 10,696 |  | $ | 387 |
2022 | 8,862 |  | — |
2023 | 6,751 |  | — |
2024 | 5,303 |  | — |
2025 | 5,046 |  | — |
Thereafter | 19,196 |  | — |
Total lease payments | 55,854 |  | 387 |
Less: Present value discount | (9,512) |  | (3) |
Total lease liabilities | $ | 46,342 |  | $ | 384 |
The following table summarizes the Company’s lease terms and discount rates as of December 31, 2020:
| Years Ended December 31, |  |
| 2020 | 2019 |  |
Weighted-average remaining lease terms (in years): |  |  |  |
Operating leases | 7.27 | 6.54 |  |
Finance leases | 0.42 | 1.44 |  |
Weighted-average discount rate: |  |  |  |
Operating leases | 5.29 | % | 5.37 | % |  |
Finance leases | 3.3 | % | 3.23 | % |  |

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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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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating 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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