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Leases, User Charges and Commitments (Tables)
 9 Months Ended
Sep. 30, 2019
Leases [Abstract]  
Summary of Lease Costs

The following table summarizes the lease costs for the three and nine months ended September 30, 2019 (in thousands), which are included in general and administrative costs in the accompanying consolidated statement of income:

 

Three Months Ended

 

 

Nine Months Ended

 

 

September 30, 2019

 

 

September 30, 2019

 

 

 

 

 

 

 

 

 

Amortization of finance right-of-use assets

$

590

 

 

$

1,760

 

Interest on finance lease liabilities

 

59

 

 

 

200

 

Finance lease cost

 

649

 

 

 

1,960

 

 

 

 

 

 

 

 

 

Operating lease cost

 

2,748

 

 

 

8,060

 

Short-term lease cost

 

92

 

 

 

154

 

Sublease income

 

(124

)

 

 

(442

)

Total lease cost

$

3,365

 

 

$

9,732

 
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 September 30, 2019 (in thousands):

 

Operating Leases

 

 

Finance Leases

 

Less than 1 year

$

9,868

 

 

$

3,186

 

1-3 years

 

16,205

 

 

 

2,645

 

3-5 years

 

9,194

 

 

 

2

 

Over 5 years

 

7,933

 

 

 

-

 

Minimum lease payments

 

43,200

 

 

 

5,833

 

Imputed interest

 

4,091

 

 

 

212

 

Present value of minimum lease payments

 

39,109

 

 

 

5,621

 

Less: current lease liabilities

 

8,665

 

 

 

3,021

 

Long-term lease liabilities

$

30,444

 

 

$

2,600

 
Summary of Other Information

 

Other information:

Three Months Ended

 

 

Nine Months Ended

 

 

September 30, 2019

 

 

September 30, 2019

 

Operating cash flows from operating leases

$

2,462

 

 

$

7,178

 

Financing cash flows from finance leases

 

741

 

 

 

2,206

 

Operating cash flows from finance leases

 

60

 

 

 

200

 

Cash paid for lease liabilities

$

3,263

 

 

$

9,584

 

 

 

 

 

 

 

 

 

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

$

7,748

 

 

$

12,736

 

 
Summary of Weighted Average Remaining Lease Term and Discount Rates

The weighted average remaining lease term and discount rates as of September 30, 2019 (in thousands) are as follows:

 

Weighted average remaining lease term — finance leases

 

 

1.84 years

 

Weighted average remaining lease term — operating leases

 

 

5.54 years

 

 

 

 

 

 

 

Discount rate — finance leases

 

 

 

3.88

%

Discount rate — operating leases

 

 

 

3.44

%