XML 71 R20.htm IDEA: XBRL DOCUMENT
v3.19.3

Leases | 9 Months Ended
--- | ---
Sep. 30, 2019
Leases [Abstract] |
Leases | LEASES The Company's leases are classified as operating leases and consist of manufacturing facilities, distribution centers, office space, vehicles and equipment. For leases with terms greater than twelve months, at lease commencement the Company recognizes a right-of-use asset and a lease liability. The initial lease liability is recognized at the present value of remaining lease payments over the lease term. Leases with an initial term of twelve months or less are not recorded on the Company's consolidated balance sheet. The Company recognizes lease expense for operating leases on a straight-line basis over the lease term. The Company combines lease and non-lease components, such as common area maintenance costs, in calculating the related asset and lease liabilities for all underlying asset groups. Operating lease cost is included in income from operations and includes short-term leases and variable lease costs which are immaterial. Most of the Company's leases include one or more options to renew, with renewal terms that can extend the respective lease term from one month to fifteen years. The exercise of lease renewal options is at the Company's sole discretion. As of September 30, 2019, the Company's renewal options are not part of the Company's operating lease assets and operating lease liabilities. Certain leases also include options to purchase at fair value the underlying leased asset at the Company's sole discretion.
(In thousands) | Classification |  | September 30, 2019
Assets | Operating lease assets |  | $ | 28,573 |
Liabilities |  |  |
Current | Accrued expenses |  | $ | 8,350 |
Non-current | Non-current operating lease liabilities |  | 20,461 |
|  |  | $ | 28,811 |
Lease cost (in thousands) | Three Months Ended September 30, 2019 |  | Nine Months Ended September 30, 2019
Operating lease cost | $ | 3,102 |  |  | $ | 9,649 |
Other information (in thousands) |  | Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of operating liabilities |  | $ | 8,635 |
Right-of-use assets obtained in exchange for new lease liabilities |  | $ | 5,974 |
Lease Term and Discount Rate |  | September 30, 2019
Weighted-average remaining lease term - operating leases |  | 4.0 |  | years
Weighted-average discount rate - operating leases |  | 5.8 | % |
Maturity of lease liabilities |  | (In thousands) |
2019 (October 1, 2019 through December 31, 2019) |  | $ | 2,680 |
2020 |  | 9,172 |
2021 |  | 7,526 |
2022 |  | 5,621 |
2023 |  | 4,902 |
After 2023 |  | 2,557 |
Total lease payments |  | 32,458 |
Less: present value discount |  | (3,647 | )
Present value of lease liabilities |  | $ | 28,811 |
The Company uses the its incremental borrowing rate based on information available at the commencement date of a lease in determining the present value of lease payments as the rates implicit in most of the Company's leases are not readily determinable. Upon adoption of ASU 2016-02 on January 1, 2019, the unrecognized deferred gain related to sale-leaseback transactions was recorded as a cumulative-effect adjustment to increase retained earnings, net of related income tax effects.

X
- References No definition available. + Details
Name: | us-gaap_LeasesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

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 + Details
Name: | us-gaap_LesseeOperatingLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration