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Leases Leases (Tables) | 9 Months Ended
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Sep. 30, 2019
Leases [Abstract] |
Schedule of Lease Assets and Liabilities | Right-of-use assets and lease liabilities related to Pinnacle Financial's operating and finance leases are as follows at September 30, 2019 (in thousands):
| Balance Sheet Location | September 30, 2019
Right-of-use assets |  |
Operating leases (1) | Other assets | $ | 74,151 |
Finance leases | Premises and equipment, net | 2,044 |
Total right-of-use assets |  | $ | 76,195 |
Lease liabilities |  |
Operating leases | Other liabilities | $ | 82,150 |
Finance leases | Other liabilities | 3,302 |
Total lease liabilities |  | $ | 85,452 |
(1) Presented net of tenant improvement allowances of $1.7 million and purchase accounting fair value adjustments of $2.8 million.
Schedule of Lease Costs and Other Information | Lease costs during the three and nine months ended September 30, 2019 related to these leases were as follows (in thousands):
| Three Months Ended September 30, 2019 | Nine Months Ended September 30, 2019
Operating lease cost | $ | 3,516 |  | $ | 10,488 |
Short-term lease cost | 43 |  | 137 |
Finance lease cost: |  |
Interest on lease liabilities | 60 |  | 183 |
Amortization of right-of-use asset | 56 |  | 169 |
Sublease income | (562 | ) | (1,123 | )
Net lease cost | $ | 3,113 |  | $ | 9,854 |
Rent expense related to leases during the three and nine months ended September 30, 2018 was $3.1 million and $9.4 million, respectively. Cash flows related to leases during the three and nine months ended September 30, 2019 were as follows (in thousands):
| Three Months Ended September 30, 2019 | Nine Months Ended September 30, 2019
Operating cash flows related to operating leases | $ | 3,432 |  | $ | 10,193 |
Operating cash flows related to finance leases | 60 |  | 183 |
Financing cash flows related to finance leases | 57 |  | 168 |
Lease liabilities are determined based on lease term discounted at an effective rate of interest. Certain lease agreements contain renewal options which are considered in the determination of the lease term if they are deemed reasonably certain to be exercised. Discount rates used to determine the present value of lease payments are based on secured borrowing rates as of the commencement date of the lease. The following table presents the weighted average remaining lease term and weighted average discount rate used to determine lease liabilities at September 30, 2019 (in thousands):
| September 30, 2019
Weighted average remaining lease term: |
Operating leases | 10.41 years |
Finance leases | 9.09 years |
Weighted average discount rate: |
Operating leases | 3.28 | %
Finance leases | 7.22 | %
Schedule of Future Minimum Operating Lease Payments | The following table presents a maturity analysis of undiscounted cash flows due under operating leases and finance leases and a reconciliation to total operating lease liabilities and finance lease liabilities at September 30, 2019 (in thousands):
| Operating Leases | Finance Leases
2019 (1) | $ | 3,403 |  | $ | 118 |
2020 | 12,992 |  | 470 |
2021 | 12,383 |  | 470 |
2022 | 10,619 |  | 470 |
2023 | 9,768 |  | 479 |
Thereafter | 50,329 |  | 2,548 |
| 99,494 |  | 4,555 |
Less: Imputed interest | (17,344 | ) | (1,253 | )
Total lease liabilities | $ | 82,150 |  | $ | 3,302 |
(1) Includes the period from October 1, 2019 through December 31, 2019. At December 31, 2018, the future minimum lease payments due under operating leases and capital leases, and a reconciliation to total capital lease liabilities were as follows (in thousands):
| Operating Leases | Capital Leases
2019 | $ | 12,889 |  | $ | 470 |
2020 | 11,805 |  | 470 |
2021 | 11,527 |  | 470 |
2022 | 9,410 |  | 470 |
2023 | 8,820 |  | 479 |
Thereafter | 43,730 |  | 2,548 |
Future minimum lease payments | $ | 98,181 |  | 4,907 |
Less: Imputed interest |  | (1,437 | )
Total capital lease liabilities |  | $ | 3,470 |
Schedule of Future Minimum Finance Lease Payments | The following table presents a maturity analysis of undiscounted cash flows due under operating leases and finance leases and a reconciliation to total operating lease liabilities and finance lease liabilities at September 30, 2019 (in thousands):
| Operating Leases | Finance Leases
2019 (1) | $ | 3,403 |  | $ | 118 |
2020 | 12,992 |  | 470 |
2021 | 12,383 |  | 470 |
2022 | 10,619 |  | 470 |
2023 | 9,768 |  | 479 |
Thereafter | 50,329 |  | 2,548 |
| 99,494 |  | 4,555 |
Less: Imputed interest | (17,344 | ) | (1,253 | )
Total lease liabilities | $ | 82,150 |  | $ | 3,302 |
(1) Includes the period from October 1, 2019 through December 31, 2019. At December 31, 2018, the future minimum lease payments due under operating leases and capital leases, and a reconciliation to total capital lease liabilities were as follows (in thousands):
| Operating Leases | Capital Leases
2019 | $ | 12,889 |  | $ | 470 |
2020 | 11,805 |  | 470 |
2021 | 11,527 |  | 470 |
2022 | 9,410 |  | 470 |
2023 | 8,820 |  | 479 |
Thereafter | 43,730 |  | 2,548 |
Future minimum lease payments | $ | 98,181 |  | 4,907 |
Less: Imputed interest |  | (1,437 | )
Total capital lease liabilities |  | $ | 3,470 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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