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Leases, User Charges and Commitments (Tables)

3 Months Ended

Mar. 31, 2019

The following table summarizes the lease costs for the three months ended March 31, 2019 (in thousands), which are included in general and administrative costs in the accompanying consolidated statement of income:

	Three Months Ended
	March 31, 2019

Amortization of finance right-of-use assets	$	589
Interest on finance lease liabilities		74
Finance lease cost		663

Operating lease cost		2,606
Short-term lease cost		26
Sublease income		(158	)
Total lease cost	$	3,137

Schedule of Future Minimum Lease Payments Under Operating and Finance Leases

The table below summarizes the Company’s scheduled future minimum lease payments under operating and finance leases, recorded on the sheet, as of March 31, 2019 (in thousands):

	Operating Leases		Finance Leases
Less than 1 year	$	8,974	$	3,212
1-3 years		12,991		4,258
3-5 years		7,837		6
Over 5 years		5,865		-
Minimum lease payments		35,667		7,476
Imputed interest		3,188		339
Present value of minimum lease payments		32,479		7,137
Less: current lease liabilities		8,010		2,988
Long-term lease liabilities	$	24,469	$	4,149

Summary of Other Information

Other information:	Three Months Ended
	March 31, 2019
Operating cash flows from operating leases	$	2,374
Financing cash flows from finance leases		740
Operating cash flows from finance leases		74
Cash paid for a lease liabilities	$	3,188

Right-of-use assets obtained in exchange for new financing lease liabilities	$	6

Rights-of-use assets obtained in exchange for new operating lease liabilities	$	1,302

Summary of Weighted Average Remaining Lease Term and Discount Rates

The weighted average remaining lease term and discount rates as of March 31, 2019 (in thousands) are as follows:


Weighted average remaining lease term — finance leases	2.33 years
Weighted average remaining lease term — operating leases	5.26 years

Discount rate — finance leases		3.87%
Discount rate — operating leases		3.37%