Leases (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of lease-related assets and liabilities

The table below presents the lease-related assets and liabilities recorded on the Condensed Consolidated Balance Sheet:


(in thousands)	Classification	As of June 30, 2020	As of December 31, 2019

Assets
Non-Current
Operating	Operating lease right-of-use assets	$ 47,448	$	45,691
Finance	Property and equipment, net	6,060		7,148

Total lease assets		$ 53,508	$	52,839

Liabilities
Current
Operating	Current maturities of operating lease obligations	$ 16,209	$	15,459
Financing	Current maturities of finance lease obligations	2,333		2,747
Non-Current
Operating	Operating lease obligations	30,721		29,785
Financing	Finance lease obligations	3,051		3,597

Total lease liabilities		$ 52,314	$	51,588


Weighted-average remaining lease term:
Operating leases		4.4 years
Finance leases		2.7 years
Weighted-average discount rate:
Operating leases		4.21%
Finance leases		4.99%

Schedule of lease costs for finance and operating leases

The table below presents certain information related to the lease costs for finance and operating leases:


		Three months ended June 30,				Six months ended June 30,
(in thousands)	Classification	2020		2019		2020		2019
Operating lease cost (1)	Administrative	$	5,640	$	5,054	$	11,212	$	10,041
Finance lease cost
Amortization of leased assets (2)	Cost of sales		941		1,332		1,906		2,810
Interest on finance lease obligations	Interest expense, net		70		90		143		184

Total lease costs		$	6,651	$	6,476	$	13,261	$	13,035

(1)

Includes variable lease costs of $0.6 million and $0.5 million for the three months ended June 30, 2020 and 2019, respectively, and $1.2 million and $1.0 million for the six months ended June 30, 2020 and 2019, respectively, and short-term lease costs of $0.2 million for each of the three months ended June 30, 2020 and 2019, respectively, and $0.4 million for each of the six months ended June 30, 2020 and 2019, respectively.

(2)	Includes variable lease costs of $0.2 million for each of the three months ended June 30, 2020 and 2019, respectively, and $0.4 million and $0.5 million for the six months ended June 30, 2020 and 2019, respectively.

Schedule of Supplemental Cash flow information Related to Leases

The table below presents supplemental cash flow information related to leases (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2020		2019		2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,806	$	4,288	$	9,552	$	8,521
Operating cash flows for finance leases		70		90		143		184
Financing cash flows for finance leases		654		1,116		1,392		2,481

Schedule of Undiscounted Cash Flows

The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years for the finance lease obligations and operating lease obligations recorded on the Condensed Consolidated Balance Sheet as of June 30, 2020 (in thousands):


	Finance Leases			Operating Leases
				Related Party		Other		Total Operating
Remainder of 2020	$	1,482		$	598	$	8,803	$	9,401
2021		2,109			1,050		14,534		15,584
2022		1,158			976		9,248		10,224
2023		792			524		5,284		5,808
2024		378			536		2,857		3,393
Thereafter		30			503		6,624		7,127

Total minimum lease payments		5,949		$	4,187	$	47,350		51,537

Less: Amounts representing executory costs		(124	)						—
Less: Amounts representing interest		(441	)						(4,607	)

Present value of future minimum lease payments		5,384							46,930
Less: Current obligation under leases		(2,333	)						(16,209	)

Long-term lease obligations	$	3,051						$	30,721