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Leases (Tables)

12 Months Ended

Dec. 31, 2019

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

	Twelve Months Ended
	December 31, 2019

Amortization of finance right-of-use assets	$	2,326
Interest on finance lease liabilities		252
Finance lease cost		2,578

Operating lease cost		10,861
Short-term lease cost		289
Sublease income		(507	)
Total lease cost	$	13,221

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 December 31, 2019 (in thousands):

	Operating Leases		Finance Leases
Year 1	$	9,703	$	3,183
Year 2		8,361		1,836
Year 3		7,029		8
Year 4		4,861		-
Year 5		3,706		-
Thereafter		7,190		-
Minimum lease payments		40,850		5,027
Imputed interest		3,765		159
Present value of minimum lease payments		37,085		4,868
Less: current lease liabilities		8,567		3,048
Long-term lease liabilities	$	28,518	$	1,820

Summary of Other Information

Other information:	Twelve Months Ended
	December 31, 2019
Operating cash flows from operating leases	$	9,702
Financing cash flows from finance leases		2,954
Operating cash flows from finance leases		252
Cash paid for lease liabilities	$	12,908

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	$	13,242

Summary Of Weighted Average Remaining Lease Term and Discount Rates

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

Weighted average remaining lease term — finance leases	1.59 years
Weighted average remaining lease term — operating leases	5.38 years

Discount rate — finance leases		3.88	%
Discount rate — operating leases		3.44	%