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Leases

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

Leases

The Company's operating lease right-of-use assets and operating lease liabilities represent leases for office and warehouse space, machinery and equipment, and vehicles, among other items. The Company's finance lease right-of-use assets and finance lease liabilities represent leases for vehicles.

Lease costs recognized on the consolidated statements of operations were as follows:

(in thousands)				Year ended
Lease costs		Location in Statement of Operations		December 31, 2019
Operating		Cost of goods sold		$	2,361
		Selling, general and administrative		11,775
		Research and development		773
Finance
Amortization of lease assets		Selling, general and administrative		8
Interest on lease liabilities		Interest expense, net		2
Total lease cost				$	14,919

Total rental expense for all operating leases amounted to $15.7 million and $16.3 million for the years ended December 31, 2018 and 2017, respectively.

Supplemental balance sheet information related to the Company's leases is as follows:

(in thousands)		Balance Sheet Location		December 31, 2019
Right-of-use assets
Operating		Other noncurrent assets		$	44,407
Finance		Property, plant and equipment, net		281
		Total lease assets		$	44,688
Lease liabilities
Operating		Accrued expenses and other liabilities		$	11,336
Finance		Accrued expenses and other liabilities		8
Operating		Other noncurrent liabilities		34,137
Finance		Long-term debt		273
		Total lease liabilities		$	45,754

The weighted average remaining lease term and the weighted average discount rate for leases is as follows:

		December 31, 2019
Weighted average remaining lease term (years):
Operating		5.8
Finance		5.9
Weighted average discount rate:
Operating		3.42	%
Finance		4.18	%

The following table reconciles the undiscounted cash flows for leases as of December 31, 2019 to lease liabilities recorded on the consolidated balance sheet:

		Operating				Finance
(in thousands)		Leases				Leases				Total
2020		$	14,173			$	59			$	14,232
2021		10,321				57				10,378
2022		6,740				55				6,795
2023		3,889				53				3,942
2024		3,264				51				3,315
Thereafter		12,379				41				12,420
Total future lease payments		50,766				316				51,082
Less: Interest		(5,293		)		(35		)		(5,328		)
Present value of lease liabilities		$	45,473			$	281			$	45,754
Accrued expenses and other liabilities		$	11,336			$	8			$	11,344
Other noncurrent liabilities		34,137				—				34,137
Long-term debt		—				273				273
Total lease liabilities		$	45,473			$	281			$	45,754

Future minimum rental payments under noncancelable operating leases as of December 31, 2018 were as follows:

(in thousands)
Year ending December 31,
2019		$	13,119
2020		11,053
2021		7,984
2022		5,345
2023		3,133
Thereafter		13,852
Total minimum rental payments		$	54,486

Supplemental cash flow information and non-cash activity related to the Company's leases are as follows:

		Year ended
(in thousands)		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		$	14,804
Operating cash flows for finance leases		2
Financing cash flows for finance leases		8
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	9,530
Finance leases		289

Leases

Leases

The Company's operating lease right-of-use assets and operating lease liabilities represent leases for office and warehouse space, machinery and equipment, and vehicles, among other items. The Company's finance lease right-of-use assets and finance lease liabilities represent leases for vehicles.

Lease costs recognized on the consolidated statements of operations were as follows:

(in thousands)				Year ended
Lease costs		Location in Statement of Operations		December 31, 2019
Operating		Cost of goods sold		$	2,361
		Selling, general and administrative		11,775
		Research and development		773
Finance
Amortization of lease assets		Selling, general and administrative		8
Interest on lease liabilities		Interest expense, net		2
Total lease cost				$	14,919

Total rental expense for all operating leases amounted to $15.7 million and $16.3 million for the years ended December 31, 2018 and 2017, respectively.

Supplemental balance sheet information related to the Company's leases is as follows:

(in thousands)		Balance Sheet Location		December 31, 2019
Right-of-use assets
Operating		Other noncurrent assets		$	44,407
Finance		Property, plant and equipment, net		281
		Total lease assets		$	44,688
Lease liabilities
Operating		Accrued expenses and other liabilities		$	11,336
Finance		Accrued expenses and other liabilities		8
Operating		Other noncurrent liabilities		34,137
Finance		Long-term debt		273
		Total lease liabilities		$	45,754

The weighted average remaining lease term and the weighted average discount rate for leases is as follows:

		December 31, 2019
Weighted average remaining lease term (years):
Operating		5.8
Finance		5.9
Weighted average discount rate:
Operating		3.42	%
Finance		4.18	%

The following table reconciles the undiscounted cash flows for leases as of December 31, 2019 to lease liabilities recorded on the consolidated balance sheet:

		Operating				Finance
(in thousands)		Leases				Leases				Total
2020		$	14,173			$	59			$	14,232
2021		10,321				57				10,378
2022		6,740				55				6,795
2023		3,889				53				3,942
2024		3,264				51				3,315
Thereafter		12,379				41				12,420
Total future lease payments		50,766				316				51,082
Less: Interest		(5,293		)		(35		)		(5,328		)
Present value of lease liabilities		$	45,473			$	281			$	45,754
Accrued expenses and other liabilities		$	11,336			$	8			$	11,344
Other noncurrent liabilities		34,137				—				34,137
Long-term debt		—				273				273
Total lease liabilities		$	45,473			$	281			$	45,754

Future minimum rental payments under noncancelable operating leases as of December 31, 2018 were as follows:

(in thousands)
Year ending December 31,
2019		$	13,119
2020		11,053
2021		7,984
2022		5,345
2023		3,133
Thereafter		13,852
Total minimum rental payments		$	54,486

Supplemental cash flow information and non-cash activity related to the Company's leases are as follows:

		Year ended
(in thousands)		December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases		$	14,804
Operating cash flows for finance leases		2
Financing cash flows for finance leases		8
Non-cash right-of-use assets obtained in exchange for lease obligations:
Operating leases		$	9,530
Finance leases		289

X

- References

No definition available.

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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

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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

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