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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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- References

No definition available.

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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

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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

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