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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Components of lease cost and supplemental information

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

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

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	%

Supplemental balance sheet information related to leases

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

Reconciliation of undiscounted cash flows for lease liabilities recorded on consolidated balance sheet

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

Reconciliation of undiscounted cash flows for lease liabilities recorded on consolidated balance sheet

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

Schedule of future minimum rental payments under noncancelable operating leases

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

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Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position.

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-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
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+ References

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-Publisher FASB
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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.

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