XML 29 R16.htm IDEA: XBRL DOCUMENT
v3.20.2

Leases | 6 Months Ended
--- | ---
Jun. 30, 2020
Leases [Abstract] |
Leases | Leases The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The components of lease cost were as follows:
Components of Lease Cost |  |  |  |  |  |  |  |
|  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 24 |  |  | $ | 34 |  |  | $ | 48 |  |  | $ | 65 |
Interest on lease liabilities |  | 2 |  |  | 3 |  |  | 4 |  |  | 5 |
Operating lease cost |  | 1,183 |  |  | 1,088 |  |  | 2,408 |  |  | 2,112 |
Short-term lease cost |  | 223 |  |  | 180 |  |  | 458 |  |  | 232 |
Variable lease cost |  | 126 |  |  | 122 |  |  | 244 |  |  | 227 |
Total lease cost |  | $ | 1,558 |  |  | $ | 1,427 |  |  | $ | 3,162 |  |  | $ | 2,641 |
Rent expense for the three and six months ending June 30, 2020 and 2019 was immaterial. Maturities of lease liabilities were as follows:
Future Minimum Lease Payments |  |  |  |  |  |  |  |
|  | June 30, 2020 |  |  |  | December 31, 2019 |  |
(in thousands) |  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
2020 |  | $ | 2,023 |  | (a) | $ | 46 |  | (a) | $ | 4,305 |  |  | $ | 97 |
2021 |  | 2,893 |  |  | 80 |  |  | 2,718 |  |  | 83 |
2022 |  | 2,158 |  |  | 41 |  |  | 2,051 |  |  | 45 |
2023 |  | 1,564 |  |  | 18 |  |  | 1,459 |  |  | 22 |
2024 |  | 1,006 |  |  | 17 |  |  | 941 |  |  | 19 |
Thereafter |  | 2,611 |  |  | 5 |  |  | 2,587 |  |  | 14 |
Total minimum lease payments |  | $ | 12,255 |  |  | $ | 207 |  |  | $ | 14,061 |  |  | $ | 280 |
Less imputed interest |  | (996) |  |  | (12) |  |  | (1,100) |  |  | (16) |
Total lease liabilities |  | $ | 11,259 |  |  | $ | 195 |  |  | $ | 12,961 |  |  | $ | 264 |
(a) Amounts represent remaining three months of payments due for 2019. |  |  |  |  |  |  |  |
Future Lease Commencements As of June 30, 2020, there are additional operating leases that have not yet commenced in the amount of $4.7 million. Of the operating leases that have not commenced, $4.6 million relate to buildings and the remainder relates to equipment. These operating leases will commence in fiscal year 2020 with lease terms of 1 to 10 years. Supplemental balance sheet information related to leases was as follows:
Operating Leases |  |  |  |
(in thousands) |  | June 30, 2020 |  | December 31, 2019
Other non-current assets |  | $ | 11,159 |  |  | $ | 12,858 |
Accrued liabilities |  | 3,263 |  |  | 3,972 |
Other long-term liabilities |  | 7,996 |  |  | 8,989 |
Total operating lease liabilities |  | $ | 11,259 |  |  | $ | 12,961 |
Finance Leases |  |  |  |
(in thousands) |  | June 30, 2020 |  | December 31, 2019
Property, plant and equipment, gross |  | $ | 471 |  |  | $ | 524 |
Accumulated Depreciation |  | (263) |  |  | (265) |
Property, plant and equipment, net |  | $ | 208 |  |  | $ | 259 |
Current maturities of long-term debt and finance lease obligations |  | $ | 72 |  |  | $ | 90 |
Long-term debt and finance lease obligations, net of current maturities |  | 123 |  |  | 174 |
Total finance lease liabilities |  | $ | 195 |  |  | $ | 264 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 5.04 years |  | 5.10 years
Finance leases |  | 3.29 years |  | 3.47 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 3.20 | % |  | 3.29 | %
Finance leases |  | 3.46 | % |  | 3.39 | %
Supplemental Cash Flow information related to leases was as follows:
|  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | 4 |  |  | $ | 7 |
Operating cash flows from operating leases |  | 2,236 |  |  | 2,108 |
Financing cash flows from finance leases |  | 47 |  |  | 76 |
Leases | Leases The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The components of lease cost were as follows:
Components of Lease Cost |  |  |  |  |  |  |  |
|  | Three Months Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 24 |  |  | $ | 34 |  |  | $ | 48 |  |  | $ | 65 |
Interest on lease liabilities |  | 2 |  |  | 3 |  |  | 4 |  |  | 5 |
Operating lease cost |  | 1,183 |  |  | 1,088 |  |  | 2,408 |  |  | 2,112 |
Short-term lease cost |  | 223 |  |  | 180 |  |  | 458 |  |  | 232 |
Variable lease cost |  | 126 |  |  | 122 |  |  | 244 |  |  | 227 |
Total lease cost |  | $ | 1,558 |  |  | $ | 1,427 |  |  | $ | 3,162 |  |  | $ | 2,641 |
Rent expense for the three and six months ending June 30, 2020 and 2019 was immaterial. Maturities of lease liabilities were as follows:
Future Minimum Lease Payments |  |  |  |  |  |  |  |
|  | June 30, 2020 |  |  |  | December 31, 2019 |  |
(in thousands) |  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
2020 |  | $ | 2,023 |  | (a) | $ | 46 |  | (a) | $ | 4,305 |  |  | $ | 97 |
2021 |  | 2,893 |  |  | 80 |  |  | 2,718 |  |  | 83 |
2022 |  | 2,158 |  |  | 41 |  |  | 2,051 |  |  | 45 |
2023 |  | 1,564 |  |  | 18 |  |  | 1,459 |  |  | 22 |
2024 |  | 1,006 |  |  | 17 |  |  | 941 |  |  | 19 |
Thereafter |  | 2,611 |  |  | 5 |  |  | 2,587 |  |  | 14 |
Total minimum lease payments |  | $ | 12,255 |  |  | $ | 207 |  |  | $ | 14,061 |  |  | $ | 280 |
Less imputed interest |  | (996) |  |  | (12) |  |  | (1,100) |  |  | (16) |
Total lease liabilities |  | $ | 11,259 |  |  | $ | 195 |  |  | $ | 12,961 |  |  | $ | 264 |
(a) Amounts represent remaining three months of payments due for 2019. |  |  |  |  |  |  |  |
Future Lease Commencements As of June 30, 2020, there are additional operating leases that have not yet commenced in the amount of $4.7 million. Of the operating leases that have not commenced, $4.6 million relate to buildings and the remainder relates to equipment. These operating leases will commence in fiscal year 2020 with lease terms of 1 to 10 years. Supplemental balance sheet information related to leases was as follows:
Operating Leases |  |  |  |
(in thousands) |  | June 30, 2020 |  | December 31, 2019
Other non-current assets |  | $ | 11,159 |  |  | $ | 12,858 |
Accrued liabilities |  | 3,263 |  |  | 3,972 |
Other long-term liabilities |  | 7,996 |  |  | 8,989 |
Total operating lease liabilities |  | $ | 11,259 |  |  | $ | 12,961 |
Finance Leases |  |  |  |
(in thousands) |  | June 30, 2020 |  | December 31, 2019
Property, plant and equipment, gross |  | $ | 471 |  |  | $ | 524 |
Accumulated Depreciation |  | (263) |  |  | (265) |
Property, plant and equipment, net |  | $ | 208 |  |  | $ | 259 |
Current maturities of long-term debt and finance lease obligations |  | $ | 72 |  |  | $ | 90 |
Long-term debt and finance lease obligations, net of current maturities |  | 123 |  |  | 174 |
Total finance lease liabilities |  | $ | 195 |  |  | $ | 264 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 5.04 years |  | 5.10 years
Finance leases |  | 3.29 years |  | 3.47 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 3.20 | % |  | 3.29 | %
Finance leases |  | 3.46 | % |  | 3.39 | %
Supplemental Cash Flow information related to leases was as follows:
|  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | 4 |  |  | $ | 7 |
Operating cash flows from operating leases |  | 2,236 |  |  | 2,108 |
Financing cash flows from finance leases |  | 47 |  |  | 76 |

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration