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v3.20.4

Leases | 12 Months Ended
--- | ---
Dec. 31, 2020
Leases [Abstract] |
LEASES | LEASES Leases The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2020, the components of lease cost were as follows:
Components of Lease Cost |  |
|  | Twelve Months Ended December 31, |  |
(in thousands) |  | 2020 |  | 2019 |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 89 |  |  | $ | 125 |  |  |  |  |
Interest on lease liabilities |  | 7 |  |  | 10 |  |  |  |  |
Operating lease cost |  | 4,824 |  |  | 4,457 |  |  |  |  |
Short-term lease cost |  | 818 |  |  | 594 |  |  |  |  |
Variable lease cost |  | 487 |  |  | 464 |  |  |  |  |
Total lease cost |  | $ | 6,225 |  |  | $ | 5,650 |  |  |  |  |
As of December 31, 2020, future minimum lease payments under these non-cancelable leases are:
Future Minimum Lease Payments
|  | December 31, 2020
(in thousands) |  | Operating Leases |  | Finance Leases
2021 |  | $ | 4,072 |  |  | $ | 69 |
2022 |  | 3,063 |  |  | 40 |
2023 |  | 2,089 |  |  | 17 |
2024 |  | 1,465 |  |  | 17 |
2025 |  | 1,244 |  |  | 16 |
Thereafter |  | 3,622 |  |  | — |
Total minimum lease payments |  | $ | 15,555 |  |  | $ | 159 |
Less imputed interest |  | (1,310) |  |  | (6) |
Total lease liabilities |  | $ | 14,245 |  |  | $ | 153 |
As of December 31, 2019, future minimum lease payments under these non-cancelable leases are:
|  | December 31, 2019
(in thousands) |  | Operating Leases |  | Finance Leases
2020 |  | $ | 4,305 |  |  | $ | 97 |
2021 |  | 2,718 |  |  | 83 |
2022 |  | 2,051 |  |  | 45 |
2023 |  | 1,459 |  |  | 22 |
2024 |  | 941 |  |  | 19 |
Thereafter |  | 2,587 |  |  | 14 |
Total minimum lease payments |  | $ | 14,061 |  |  | $ | 280 |
Less imputed interest |  | (1,100) |  |  | (16) |
Total lease liabilities |  | $ | 12,961 |  |  | $ | 264 |
Rental expense for operating leases was $6.1 million for 2020, $5.5 million for 2019, and $5.1 million for 2018. Future Lease Commencements As of December 31, 2020, we have additional operating leases, that have not yet commenced in the amount of $0.9 million. These operating leases will commence in fiscal year 2021. Supplemental balance sheet information related to leases was as follows:
Operating Leases
|  | December 31,
(in thousands) |  | 2020 |  | 2019
Other non-current assets |  | $ | 14,144 |  |  | $ | 12,858 |
Accrued liabilities |  | 3,680 |  |  | 3,972 |
Other long-term liabilities |  | 10,565 |  |  | 8,989 |
Total operating lease liabilities |  | $ | 14,245 |  |  | $ | 12,961 |
Finance Leases
|  | December 31,
(in thousands) |  | 2020 |  | 2019
Property, plant and equipment, gross |  | $ | 331 |  |  | $ | 524 |
Accumulated Depreciation |  | (211) |  |  | (265) |
Property, plant and equipment, net |  | $ | 120 |  |  | $ | 259 |
Current maturities of long-term debt and finance lease obligations | $ | 66 |  |  | $ | 90 |
Long-term debt and finance lease obligations, net of current maturities | 87 |  |  | 174 |
Total finance lease liabilities |  | $ | 153 |  |  | $ | 264 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 5.83 years |  | 5.10 years
Finance leases |  | 2.62 years |  | 3.47 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 3.04 | % |  | 3.29 | %
Finance leases |  | 3.38 | % |  | 3.39 | %
Supplemental Cash Flow information related to leases was as follows:
|  | Twelve Months Ended December 31,
(in thousands) |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | 6 |  |  | $ | 10 |
Operating cash flows from operating leases |  | 4,487 |  |  | 4,507 |
Financing cash flows from finance leases |  | 88 |  |  | 122 |
LEASES | LEASES Leases The Company leases office space and equipment under various operating and capital leases, which generally are expected to be renewed or replaced by other leases. As of December 31, 2020, the components of lease cost were as follows:
Components of Lease Cost |  |
|  | Twelve Months Ended December 31, |  |
(in thousands) |  | 2020 |  | 2019 |  |  |  |
Finance lease cost: |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | $ | 89 |  |  | $ | 125 |  |  |  |  |
Interest on lease liabilities |  | 7 |  |  | 10 |  |  |  |  |
Operating lease cost |  | 4,824 |  |  | 4,457 |  |  |  |  |
Short-term lease cost |  | 818 |  |  | 594 |  |  |  |  |
Variable lease cost |  | 487 |  |  | 464 |  |  |  |  |
Total lease cost |  | $ | 6,225 |  |  | $ | 5,650 |  |  |  |  |
As of December 31, 2020, future minimum lease payments under these non-cancelable leases are:
Future Minimum Lease Payments
|  | December 31, 2020
(in thousands) |  | Operating Leases |  | Finance Leases
2021 |  | $ | 4,072 |  |  | $ | 69 |
2022 |  | 3,063 |  |  | 40 |
2023 |  | 2,089 |  |  | 17 |
2024 |  | 1,465 |  |  | 17 |
2025 |  | 1,244 |  |  | 16 |
Thereafter |  | 3,622 |  |  | — |
Total minimum lease payments |  | $ | 15,555 |  |  | $ | 159 |
Less imputed interest |  | (1,310) |  |  | (6) |
Total lease liabilities |  | $ | 14,245 |  |  | $ | 153 |
As of December 31, 2019, future minimum lease payments under these non-cancelable leases are:
|  | December 31, 2019
(in thousands) |  | Operating Leases |  | Finance Leases
2020 |  | $ | 4,305 |  |  | $ | 97 |
2021 |  | 2,718 |  |  | 83 |
2022 |  | 2,051 |  |  | 45 |
2023 |  | 1,459 |  |  | 22 |
2024 |  | 941 |  |  | 19 |
Thereafter |  | 2,587 |  |  | 14 |
Total minimum lease payments |  | $ | 14,061 |  |  | $ | 280 |
Less imputed interest |  | (1,100) |  |  | (16) |
Total lease liabilities |  | $ | 12,961 |  |  | $ | 264 |
Rental expense for operating leases was $6.1 million for 2020, $5.5 million for 2019, and $5.1 million for 2018. Future Lease Commencements As of December 31, 2020, we have additional operating leases, that have not yet commenced in the amount of $0.9 million. These operating leases will commence in fiscal year 2021. Supplemental balance sheet information related to leases was as follows:
Operating Leases
|  | December 31,
(in thousands) |  | 2020 |  | 2019
Other non-current assets |  | $ | 14,144 |  |  | $ | 12,858 |
Accrued liabilities |  | 3,680 |  |  | 3,972 |
Other long-term liabilities |  | 10,565 |  |  | 8,989 |
Total operating lease liabilities |  | $ | 14,245 |  |  | $ | 12,961 |
Finance Leases
|  | December 31,
(in thousands) |  | 2020 |  | 2019
Property, plant and equipment, gross |  | $ | 331 |  |  | $ | 524 |
Accumulated Depreciation |  | (211) |  |  | (265) |
Property, plant and equipment, net |  | $ | 120 |  |  | $ | 259 |
Current maturities of long-term debt and finance lease obligations | $ | 66 |  |  | $ | 90 |
Long-term debt and finance lease obligations, net of current maturities | 87 |  |  | 174 |
Total finance lease liabilities |  | $ | 153 |  |  | $ | 264 |
Weighted Average Remaining Lease Term |  |  |  |
Operating leases |  | 5.83 years |  | 5.10 years
Finance leases |  | 2.62 years |  | 3.47 years
Weighted Average Discount Rate |  |  |  |
Operating leases |  | 3.04 | % |  | 3.29 | %
Finance leases |  | 3.38 | % |  | 3.39 | %
Supplemental Cash Flow information related to leases was as follows:
|  | Twelve Months Ended December 31,
(in thousands) |  | 2020 |  | 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash flows from finance leases |  | $ | 6 |  |  | $ | 10 |
Operating cash flows from operating leases |  | 4,487 |  |  | 4,507 |
Financing cash flows from finance leases |  | 88 |  |  | 122 |

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- 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
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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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