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Lease Obligations (Tables) | 12 Months Ended
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Dec. 31, 2019
Lease Obligations |
Summary of the lease-related assets and liabilities | The following is a summary of the lease-related assets and liabilities recorded as of December 31, 2019:
(in thousands) |  | Classification on the Consolidated Balance Sheet |  |  |
Assets |  |  |  |  |  |
Operating lease right-of-use assets |  | Operating lease right-of-use assets |  | $ | 22,958
Finance lease right-of-use assets |  | Property and equipment, net of accumulated depreciation |  |  | 1,478
Total right-of-use lease assets |  |  |  |  | $ | 24,436
Liabilities |  |  |  |  |  |
Current |  |  |  |  |  |
Operating lease obligations |  |  | Current portion of operating lease obligations |  | $ | 6,205
Finance lease obligations |  |  | Current portion of finance lease obligations |  |  | 1,135
Total current obligations |  |  |  |  |  | 7,340
Non-current |  |  |  |  |  |
Operating lease obligations |  |  | Operating lease obligations, net of current maturities |  |  | 16,884
Finance lease obligations |  |  | Finance lease obligations, net of current maturities |  |  | 338
Total non-current obligations |  |  |  |  |  | 17,222
Total lease obligations |  |  |  |  | $ | 24,562
Summary of the lease terms and discount rates | The following is a summary of the lease terms and discount rates as of December 31, 2019:
Weighted-average remaining lease term - finance leases |  | 1.4 years |
Weighted-average remaining lease term - operating leases |  | 3.9 years |
Weighted-average discount rate - finance leases |  | 2.5 | %
Weighted-average discount rate - operating leases |  | 3.8 | %
Schedule of lease costs | The following is a summary of certain information related to the lease costs for finance and operating leases for the year ended December 31, 2019:
(in thousands) |  | Year ended December 31,
Lease cost: |  | 2019
Finance lease cost: |  |  |
Amortization of right-of-use assets |  | $ | 820
Interest on lease liabilities |  |  | 66
Operating lease cost |  |  | 7,282
Short-term lease cost |  |  | 8
Variable lease costs |  |  | 284
Total lease cost |  | $ | 8,460
Summary of supplemental cash flow information | The following is a summary of other information and supplemental cash flow information related to finance and operating leases for the year ended December 31, 2019:
(in thousands) |  |  |
Other information: |  |
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows from operating leases |  | $ | 7,337
Right-of-use asset obtained in exchange for new operating lease obligations |  | $ | 13,301
Schedule of future minimum finance lease payments | The future undiscounted minimum lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s consolidated balance sheets, under current portion of operating lease obligations, current portion of finance lease obligations, and operating lease obligations, net of current maturities, as of December 31, 2019 were as follows:
|  | Finance |  | Operating |  | Total
|  | Lease |  | Lease |  | Lease
(in thousands) |  | Obligations |  | Obligations |  | Obligations
2020 |  | $ | 1,167 |  | $ | 8,431 |  | $ | 9,598
2021 |  |  | 341 |  |  | 7,335 |  |  | 7,676
2022 |  |  | — |  |  | 5,999 |  |  | 5,999
2023 |  |  | — |  |  | 4,123 |  |  | 4,123
2024 |  |  | — |  |  | 1,978 |  |  | 1,978
Thereafter |  |  | — |  |  | 1,648 |  |  | 1,648
Total minimum lease payments |  |  | 1,508 |  |  | 29,514 |  |  | 31,022
Financing component |  |  | (35) |  |  | (6,425) |  |  | (6,460)
Net present value of minimum lease payments |  |  | 1,473 |  |  | 23,089 |  |  | 24,562
Less: current portion of finance and operating lease obligations |  |  | (1,135) |  |  | (6,205) |  |  | (7,340)
Long-term finance and operating lease obligations |  | $ | 338 |  | $ | 16,884 |  | $ | 17,222
Schedule of future minimum operating lease payments | The future undiscounted minimum lease payments, as reconciled to the discounted minimum lease obligation indicated on the Company’s consolidated balance sheets, under current portion of operating lease obligations, current portion of finance lease obligations, and operating lease obligations, net of current maturities, as of December 31, 2019 were as follows:
|  | Finance |  | Operating |  | Total
|  | Lease |  | Lease |  | Lease
(in thousands) |  | Obligations |  | Obligations |  | Obligations
2020 |  | $ | 1,167 |  | $ | 8,431 |  | $ | 9,598
2021 |  |  | 341 |  |  | 7,335 |  |  | 7,676
2022 |  |  | — |  |  | 5,999 |  |  | 5,999
2023 |  |  | — |  |  | 4,123 |  |  | 4,123
2024 |  |  | — |  |  | 1,978 |  |  | 1,978
Thereafter |  |  | — |  |  | 1,648 |  |  | 1,648
Total minimum lease payments |  |  | 1,508 |  |  | 29,514 |  |  | 31,022
Financing component |  |  | (35) |  |  | (6,425) |  |  | (6,460)
Net present value of minimum lease payments |  |  | 1,473 |  |  | 23,089 |  |  | 24,562
Less: current portion of finance and operating lease obligations |  |  | (1,135) |  |  | (6,205) |  |  | (7,340)
Long-term finance and operating lease obligations |  | $ | 338 |  | $ | 16,884 |  | $ | 17,222
Schedule of future minimum lease payments required under operating leases under previous ASC 840 guidance | The future minimum lease payments required under operating leases as of December 31, 2018 as reported in the Company's Annual Report on Form 10-K for the year ended December 31, 2018 under previous ASC 840 guidance were as follows:
|  | Operating
(in thousands) |  | Lease Obligations
2019 |  | $ | 4,829
2020 |  |  | 3,754
2021 |  |  | 2,971
2022 |  |  | 2,379
2023 |  |  | 1,335
Thereafter |  |  | 2,127
Total minimum lease payments |  | $ | 17,395

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