XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.19.1

Leases | 3 Months Ended
--- | ---
Mar. 31, 2019
Leases [Abstract] |
Leases | Leases The Company adopted ASU No. 2016-02, Leases (Topic 842) on January 1, 2019 and applied the modified retrospective approach to adoption whereby the standard is applied only to the current period. The Company leases various manufacturing facilities, office facilities and equipment under operating and finance leases. We determine if an arrangement is a lease at inception. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of our leases include variable lease payments, mainly when a lease is tied to an index rate. These variable lease payments are recorded as expense in the period incurred and are not material. The Company has lease agreements with lease and non-lease components, which we account for separately. For certain equipment leases, we apply a portfolio approach to efficiently account for the operating lease ROU assets and lease liabilities. We also elected the short-term lease exemption and do not recognize leases with terms less than one year on the balance sheet. The related short-term lease expense is not material. Our leases have remaining lease terms of one year to twelve years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. We only account for such extensions or early terminations when it is reasonably certain we will exercise such options. Lease costs consists of the following:
| Three Months Ended,
| March 31, 2019
Operating lease cost | $ | 1,996 |
Finance lease cost: |
Depreciation | 53 |
Interest on lease liabilities | 7 |
Total finance lease cost | 60 |
Total lease cost | $ | 2,056 |
Supplemental balance sheet information related to leases is as follows:
| March 31, 2019
Operating leases |
Other assets (net of lease impairment of $1,325) | $ | 16,277 |
Other current liabilities | $ | 6,810 |
Other long-term liabilities | 11,133 |
Total operating lease liabilities | $ | 17,943 |
Finance leases |
Property, plant and equipment, gross | $ | 1,131 |
Accumulated depreciation | (302 | )
Property, plant and equipment, net | $ | 829 |
Current portion of long-term debt | $ | 299 |
Long-term debt | 244 |
Total finance lease liabilities | $ | 543 |
Weighted average remaining lease term (in years) |
Operating leases | 3.80 years |
Finance leases | 3.83 years |
Weighted average discount rate |
Operating leases | 4.41 | %
Finance leases | 4.90 | %
Supplemental cash flow information related to leases was as follows:
| Three Months Ended
| March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 2,123 |
Financing cash flows from finance leases | 93 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | 444 |
Finance leases | — |
Maturities of lease liabilities as of March 31, 2019 are as follows:
| Finance Lease |  | Operating Lease
Remaining, 2019 | $ | 260 |  |  | $ | 6,026 |
2020 | 219 |  |  | 4,921 |
2021 | 21 |  |  | 3,063 |
2022 | 76 |  |  | 2,419 |
2023 | — |  |  | 1,549 |
2024 | — |  |  | 718 |
Thereafter | — |  |  | 770 |
Total lease payments | 576 |  |  | 19,466 |
Less imputed interest | (33 | ) |  | (1,523 | )
Total lease liabilities | $ | 543 |  |  | $ | 17,943 |
As of March 31, 2019, we have no additional operating or finance leases that have not yet commenced. Maturities of lease liabilities under ASC 840 are consistent with the above disclosure. The Company places certain of our capital equipment with customers on a loaned basis and at no charge in exchange for commitments to purchase related single-use products over time periods generally ranging from one to three years. Placed equipment is loaned and subject to return if minimum single-use purchases are not met. The Company accounts for these placements as operating leases but applies a practical expedient and does not separate the nonlease and lease components from the combined component. Accordingly, the Company accounts for the combined component as a single performance obligation with revenue recognized upon shipment of the related single use-products. The cost of the equipment is amortized over its estimated useful life which is generally five years.
Leases | Leases The Company adopted ASU No. 2016-02, Leases (Topic 842) on January 1, 2019 and applied the modified retrospective approach to adoption whereby the standard is applied only to the current period. The Company leases various manufacturing facilities, office facilities and equipment under operating and finance leases. We determine if an arrangement is a lease at inception. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of our leases include variable lease payments, mainly when a lease is tied to an index rate. These variable lease payments are recorded as expense in the period incurred and are not material. The Company has lease agreements with lease and non-lease components, which we account for separately. For certain equipment leases, we apply a portfolio approach to efficiently account for the operating lease ROU assets and lease liabilities. We also elected the short-term lease exemption and do not recognize leases with terms less than one year on the balance sheet. The related short-term lease expense is not material. Our leases have remaining lease terms of one year to twelve years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. We only account for such extensions or early terminations when it is reasonably certain we will exercise such options. Lease costs consists of the following:
| Three Months Ended,
| March 31, 2019
Operating lease cost | $ | 1,996 |
Finance lease cost: |
Depreciation | 53 |
Interest on lease liabilities | 7 |
Total finance lease cost | 60 |
Total lease cost | $ | 2,056 |
Supplemental balance sheet information related to leases is as follows:
| March 31, 2019
Operating leases |
Other assets (net of lease impairment of $1,325) | $ | 16,277 |
Other current liabilities | $ | 6,810 |
Other long-term liabilities | 11,133 |
Total operating lease liabilities | $ | 17,943 |
Finance leases |
Property, plant and equipment, gross | $ | 1,131 |
Accumulated depreciation | (302 | )
Property, plant and equipment, net | $ | 829 |
Current portion of long-term debt | $ | 299 |
Long-term debt | 244 |
Total finance lease liabilities | $ | 543 |
Weighted average remaining lease term (in years) |
Operating leases | 3.80 years |
Finance leases | 3.83 years |
Weighted average discount rate |
Operating leases | 4.41 | %
Finance leases | 4.90 | %
Supplemental cash flow information related to leases was as follows:
| Three Months Ended
| March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 2,123 |
Financing cash flows from finance leases | 93 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | 444 |
Finance leases | — |
Maturities of lease liabilities as of March 31, 2019 are as follows:
| Finance Lease |  | Operating Lease
Remaining, 2019 | $ | 260 |  |  | $ | 6,026 |
2020 | 219 |  |  | 4,921 |
2021 | 21 |  |  | 3,063 |
2022 | 76 |  |  | 2,419 |
2023 | — |  |  | 1,549 |
2024 | — |  |  | 718 |
Thereafter | — |  |  | 770 |
Total lease payments | 576 |  |  | 19,466 |
Less imputed interest | (33 | ) |  | (1,523 | )
Total lease liabilities | $ | 543 |  |  | $ | 17,943 |
As of March 31, 2019, we have no additional operating or finance leases that have not yet commenced. Maturities of lease liabilities under ASC 840 are consistent with the above disclosure. The Company places certain of our capital equipment with customers on a loaned basis and at no charge in exchange for commitments to purchase related single-use products over time periods generally ranging from one to three years. Placed equipment is loaned and subject to return if minimum single-use purchases are not met. The Company accounts for these placements as operating leases but applies a practical expedient and does not separate the nonlease and lease components from the combined component. Accordingly, the Company accounts for the combined component as a single performance obligation with revenue recognized upon shipment of the related single use-products. The cost of the equipment is amortized over its estimated useful life which is generally five years.
Leases | Leases The Company adopted ASU No. 2016-02, Leases (Topic 842) on January 1, 2019 and applied the modified retrospective approach to adoption whereby the standard is applied only to the current period. The Company leases various manufacturing facilities, office facilities and equipment under operating and finance leases. We determine if an arrangement is a lease at inception. Right-of-use ("ROU") assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term. Certain of our leases include variable lease payments, mainly when a lease is tied to an index rate. These variable lease payments are recorded as expense in the period incurred and are not material. The Company has lease agreements with lease and non-lease components, which we account for separately. For certain equipment leases, we apply a portfolio approach to efficiently account for the operating lease ROU assets and lease liabilities. We also elected the short-term lease exemption and do not recognize leases with terms less than one year on the balance sheet. The related short-term lease expense is not material. Our leases have remaining lease terms of one year to twelve years, some of which include options to extend the leases for up to five years, and some of which include options to terminate the leases within one year. We only account for such extensions or early terminations when it is reasonably certain we will exercise such options. Lease costs consists of the following:
| Three Months Ended,
| March 31, 2019
Operating lease cost | $ | 1,996 |
Finance lease cost: |
Depreciation | 53 |
Interest on lease liabilities | 7 |
Total finance lease cost | 60 |
Total lease cost | $ | 2,056 |
Supplemental balance sheet information related to leases is as follows:
| March 31, 2019
Operating leases |
Other assets (net of lease impairment of $1,325) | $ | 16,277 |
Other current liabilities | $ | 6,810 |
Other long-term liabilities | 11,133 |
Total operating lease liabilities | $ | 17,943 |
Finance leases |
Property, plant and equipment, gross | $ | 1,131 |
Accumulated depreciation | (302 | )
Property, plant and equipment, net | $ | 829 |
Current portion of long-term debt | $ | 299 |
Long-term debt | 244 |
Total finance lease liabilities | $ | 543 |
Weighted average remaining lease term (in years) |
Operating leases | 3.80 years |
Finance leases | 3.83 years |
Weighted average discount rate |
Operating leases | 4.41 | %
Finance leases | 4.90 | %
Supplemental cash flow information related to leases was as follows:
| Three Months Ended
| March 31, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 2,123 |
Financing cash flows from finance leases | 93 |
Right-of-use assets obtained in exchange for lease obligations: |
Operating leases | 444 |
Finance leases | — |
Maturities of lease liabilities as of March 31, 2019 are as follows:
| Finance Lease |  | Operating Lease
Remaining, 2019 | $ | 260 |  |  | $ | 6,026 |
2020 | 219 |  |  | 4,921 |
2021 | 21 |  |  | 3,063 |
2022 | 76 |  |  | 2,419 |
2023 | — |  |  | 1,549 |
2024 | — |  |  | 718 |
Thereafter | — |  |  | 770 |
Total lease payments | 576 |  |  | 19,466 |
Less imputed interest | (33 | ) |  | (1,523 | )
Total lease liabilities | $ | 543 |  |  | $ | 17,943 |
As of March 31, 2019, we have no additional operating or finance leases that have not yet commenced. Maturities of lease liabilities under ASC 840 are consistent with the above disclosure. The Company places certain of our capital equipment with customers on a loaned basis and at no charge in exchange for commitments to purchase related single-use products over time periods generally ranging from one to three years. Placed equipment is loaned and subject to return if minimum single-use purchases are not met. The Company accounts for these placements as operating leases but applies a practical expedient and does not separate the nonlease and lease components from the combined component. Accordingly, the Company accounts for the combined component as a single performance obligation with revenue recognized upon shipment of the related single use-products. The cost of the equipment is amortized over its estimated useful life which is generally five years.

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 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 + Details
Name: | us-gaap_LesseeFinanceLeasesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
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

X
- Definition The entire disclosure for lessor's operating leases. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 1 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph Note 3 -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 30 -URI http://asc.fasb.org/subtopic&trid=77888252 + Details
Name: | us-gaap_OperatingLeasesOfLessorDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration