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Leases (Notes) | 3 Months Ended
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Mar. 31, 2021
Leases [Abstract] |
Lessee, Operating Leases [Text Block] | – Leases The Company leases office space, sample production space, warehouses, showrooms, storage units and retail stores under operating leases. The Company’s portfolio of leases is primarily related to real estate. Since most of its leases do not provide a readily determinable implicit rate, the Company estimated its incremental borrowing rate to discount the lease payments based on information available at lease commencement. Some of the leases for the Company’s retail store leases provide for variable lease payments based on future sales volumes at the leased location, which are not measurable at the inception of the lease and are therefore not included in the measurement of the right-of-use assets and lease liabilities. Under ASC 842, these variable lease costs are expensed as incurred. As a result of the effects of the COVID-19 pandemic, the Company executed amendments to certain leases in its existing operating lease portfolio which included changes to rental payments either to be fully or partially based on the future sales volumes at the leased location or in the form of rent abatements or reductions of the remaining lease costs obligations. The Company considered these concessions in accordance with the FASB Staff Q&A—Topic 842 and Topic 840: Accounting For Lease Concessions Related to the Effects of the COVID-19 Pandemic (the “Lease Modification Q&A”), and determined that the concessions resulted in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract consistent with how they would be accounted for as though enforceable rights and obligations for those concessions existed in the original contract. Consequently, the Company elected to account for these concessions as if they were contemplated in the enforceable rights and obligations of the existing contract. The Company made payments amounting to $6,570 for COVID-19 lease amendments during the three months ended March 31, 2021 which are included in variable lease costs. Lease Position The table below presents the lease-related assets and liabilities recorded on the balance sheet as of March 31, 2021 and December 31, 2020:
| Classification on the Balance Sheet |  | March 31, 2021 |  | December 31, 2020
Assets |  |  |  |  |
Noncurrent (1) (2) | Operating lease right-of-use asset |  | $ | 99,510 |  | $ | 101,379
Liabilities |  |  |  |  |
Current | Operating leases - current portion |  | $ | 33,359 |  | $ | 34,257
Noncurrent | Operating leases - long-term portion |  | 96,246 |  | 98,592
Total operating lease liabilities |  |  | $ | 129,605 |  | $ | 132,849
Weighted-average remaining lease term |  |  | 5.0 years |  | 5.0 years
Weighted-average discount rate |  |  | 4.2 | % |  | 4.3 | %
(1) During the first quarter of 2021, the Company recorded a pre-tax impairment charge related to its right-of-use assets of $433 (2) During the year ended December 31, 2020, the Company recorded a pre-tax impairment charge related to its right-of-use assets of $22,183. Lease Costs The table below presents certain information related to lease costs during the three months ended March 31, 2021 and 2020:
| Three Months Ended March 31, |  |
| 2021 |  | 2020 |  |  |  |
Operating lease cost | $ | 10,192 |  |  | $ | 11,383 |  |  |  |  |
Variable lease cost (1) | 7,343 |  |  | 43 |  |  |  |  |
Short-term lease cost | — |  |  | 13 |  |  |  |  |
Less: sublease income | 80 |  |  | 201 |  |  |  |  |
Total lease cost | $ | 17,455 |  |  | $ | 11,238 |  |  |  |  |
(1) The Company has incurred lease modification expenses of $6,570 w hic h have been included in variable lease cost for the three months ended March 31, 2021. Other Information The table below presents supplemental cash flow information related to leases as of the three months ended March 31, 2021 and 2020:
| Three Months Ended March 31,
| 2021 |  | 2020
Cash paid for amounts included in the measurement of lease liabilities |  |  |
Operating cash flows used for operating leases | $ | 10,901 |  |  | $ | 11,545 |
| Three Months Ended March 31,
| 2021 |  | 2020
Noncash transactions: |  |  |
Right-of-use asset obtained in exchange for new operating lease liabilities | $ | 7,283 |  |  | $ | — |
Right-of-use asset amortization expense | $ | 8,770 |  |  | $ | 10,333 |
Undiscounted Cash Flows The table below reconciles the undiscounted cash flows for each of the first five years and total of the remaining years to the lease liabilities recorded on the balance sheet as of March 31, 2021:
2021 (remaining 9 months) | $ | 30,199 |
2022 | 32,274 |
2023 | 23,792 |
2024 | 18,740 |
2025 | 15,345 |
Thereafter | 23,398 |
Total minimum lease payments | 143,748 |
Less: interest | 14,143 |
Present value of lease liabilities | $ | 129,605 |

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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 + Details
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