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Lease Obligations (Tables) | 6 Months Ended
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Jun. 30, 2020
Lease Obligations |
Summary of the lease-related assets and liabilities | The following is a summary of the lease-related assets and liabilities recorded: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(in thousands) |  | ​ |  | June 30, |  | December 31,
Assets | ​ | Classification on the Consolidated Balance Sheet | ​ | 2020 |  | 2019
Operating lease right-of-use assets |  | Operating lease right-of-use assets | ​ | $ | 24,555 | ​ | $ | 22,958
Finance lease right-of-use assets |  | Property and equipment, net of accumulated depreciation | ​ |  | 934 | ​ | ​ | 1,478
Total right-of-use lease assets |  |  | ​ | $ | 25,489 | ​ | $ | 24,436
​ |  |  | ​ |  | ​ | ​ | ​ | ​
Liabilities |  |  | ​ |  |  | ​ | ​ | ​
Current |  |  | ​ |  |  | ​ | ​ | ​
Operating lease obligations |  | Current portion of operating lease obligations | ​ | $ | 6,864 | ​ | $ | 6,205
Finance lease obligations |  | Current portion of finance lease obligations | ​ |  | 893 | ​ | ​ | 1,135
Total current obligations |  |  | ​ |  | 7,757 | ​ | ​ | 7,340
Non-current |  |  | ​ |  |  | ​ | ​ | ​
Operating lease obligations |  | Operating lease obligations, net of current maturities | ​ |  | 17,788 | ​ | ​ | 16,884
Finance lease obligations |  | Finance lease obligations, net of current maturities | ​ |  | — | ​ | ​ | 338
Total non-current obligations |  |  | ​ |  | 17,788 | ​ | ​ | 17,222
Total lease obligations |  |  | ​ | $ | 25,545 | ​ | $ | 24,562
Summary of the lease terms and discount rates | The following is a summary of the lease terms and discount rates: ​
​ | ​ | ​ | ​ | ​
​ | ​ | June 30, | ​ | December 31,
​ | ​ | 2020 | ​ | 2019
Weighted-average remaining lease term - finance leases |  | 0.9 years | ​ | 1.4 years
Weighted-average remaining lease term - operating leases |  | 3.73 years | ​ | 3.9 years
Weighted-average discount rate - finance leases |  | 2.5% | ​ | 2.5%
Weighted-average discount rate - operating leases |  | 3.9% | ​ | 3.8%
Schedule of lease costs | The following is a summary of certain information related to the lease costs for finance and operating leases: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended | ​ | Six months ended
(in thousands) |  | June 30, | ​ | June 30,
​ | ​ | 2020 | ​ | 2019 | ​ | 2020 | ​ | 2019
Lease cost: | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Finance lease cost: | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
Amortization of right-of-use assets | ​ | $ | 247 | ​ | $ | 274 | ​ | $ | 497 | ​ | $ | 547
Interest on lease liabilities | ​ |  | 9 | ​ | ​ | 17 | ​ | ​ | 20 | ​ | ​ | 37
Operating lease cost | ​ |  | 2,296 | ​ | ​ | 1,472 | ​ | ​ | 4,563 | ​ | ​ | 2,929
Short-term lease cost | ​ |  | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15
Variable lease costs | ​ |  | 76 | ​ | ​ | 67 | ​ | ​ | 153 | ​ | ​ | 132
Total lease cost | ​ | $ | 2,628 | ​ | $ | 1,830 | ​ | $ | 5,233 | ​ | $ | 3,660
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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Six months ended June 30,
(in thousands) |  | 2020 |  | 2019
Other information: | ​ | ​ | ​ | ​ | ​ | ​
Cash paid for amounts included in the measurement of lease liabilities |  | ​ |  | ​ | ​ | ​
Operating cash flows from operating leases | ​ | $ | 4,335 | ​ | $ | 2,943
Right-of-use asset obtained in exchange for new operating lease obligations | ​ | $ | 5,111 | ​ | $ | 1,234
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 financial leases, less interest, and under operating leases, less imputed interest, as of June 30, 2020 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Finance |  | Operating |  | Total
​ | ​ | Lease | ​ | Lease | ​ | Lease
(in thousands) | ​ | Obligations | ​ | Obligations | ​ | Obligations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Remainder of 2020 | ​ | $ | 578 | ​ | $ | 4,661 | ​ | $ | 5,239
2021 | ​ |  | 330 | ​ |  | 8,256 | ​ |  | 8,586
2022 | ​ |  | — | ​ |  | 6,909 | ​ |  | 6,909
2023 | ​ |  | — | ​ |  | 5,003 | ​ |  | 5,003
2024 | ​ | ​ | — | ​ | ​ | 2,471 | ​ | ​ | 2,471
2025 | ​ | ​ | — | ​ | ​ | 973 | ​ | ​ | 973
Thereafter | ​ |  | — | ​ |  | 795 | ​ |  | 795
Total minimum lease payments | ​ |  | 908 | ​ |  | 29,068 | ​ |  | 29,976
Financing component | ​ |  | (15) | ​ |  | (4,416) | ​ |  | (4,431)
Net present value of minimum lease payments | ​ |  | 893 | ​ |  | 24,652 | ​ |  | 25,545
Less: current portion of finance and operating lease obligations | ​ |  | (893) | ​ |  | (6,864) | ​ |  | (7,757)
Long-term finance and operating lease obligations | ​ | $ | — | ​ | $ | 17,788 | ​ | $ | 17,788
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 financial leases, less interest, and under operating leases, less imputed interest, as of June 30, 2020 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Finance |  | Operating |  | Total
​ | ​ | Lease | ​ | Lease | ​ | Lease
(in thousands) | ​ | Obligations | ​ | Obligations | ​ | Obligations
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Remainder of 2020 | ​ | $ | 578 | ​ | $ | 4,661 | ​ | $ | 5,239
2021 | ​ |  | 330 | ​ |  | 8,256 | ​ |  | 8,586
2022 | ​ |  | — | ​ |  | 6,909 | ​ |  | 6,909
2023 | ​ |  | — | ​ |  | 5,003 | ​ |  | 5,003
2024 | ​ | ​ | — | ​ | ​ | 2,471 | ​ | ​ | 2,471
2025 | ​ | ​ | — | ​ | ​ | 973 | ​ | ​ | 973
Thereafter | ​ |  | — | ​ |  | 795 | ​ |  | 795
Total minimum lease payments | ​ |  | 908 | ​ |  | 29,068 | ​ |  | 29,976
Financing component | ​ |  | (15) | ​ |  | (4,416) | ​ |  | (4,431)
Net present value of minimum lease payments | ​ |  | 893 | ​ |  | 24,652 | ​ |  | 25,545
Less: current portion of finance and operating lease obligations | ​ |  | (893) | ​ |  | (6,864) | ​ |  | (7,757)
Long-term finance and operating lease obligations | ​ | $ | — | ​ | $ | 17,788 | ​ | $ | 17,788

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