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LEASES | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
LEASES | LEASES The Company has operating and finance leases for office and warehouse facilities, headquarters, call centers, machinery and certain computer and communications equipment which provide the right to use the underlying assets in exchange for agreed upon lease payments, determined by the payment schedule contained in each lease. The Company’s lease portfolio consists primarily of operating leases which expire at various dates through 2032. In the second quarter of 2019, the Company entered into a lease agreement for a portion of a distribution facility located in Texas for approximately 490,000 square feet and a lease term of 125 months. The total lease obligation is approximately $19.8 million. The Company is separately charged for real estate taxes, insurance and common area maintenance. The Company recorded an ROU asset and related lease liability of approximately $14.7 million during the second quarter of 2019. In the third quarter and fourth quarters of 2019, the Company renewed, extended or expanded four of its leased facilities for an additional obligation of $2.0 million and recorded ROU assets and related lease liabilities of approximately $1.8 million. Also, in the third quarter of 2019, the Company's former German branch recorded approximately $0.8 million of gain related to a buyout of its outstanding lease obligation. The Company's operating lease costs, included in continuing operations, was $12.0 million, $11.4 million and $11.2 million, for the years ended December 31, 2019, 2018 and 2017, respectively. The following tables summarizes the Company's ROU weighted average remaining lease term and discount rate for continuing and discontinued operations as of December 31, 2019.
|  | Year Ended December 31,
|  | 2019
Weighted Average Remaining Lease Term |  |
Operating leases |  | 8.4 years |
Weighted Average Discount Rate |  |
Operating leases |  | 5.7 | %
Maturities of lease liabilities were as follows (in millions):
Year Ending December 31 |  | Operating Leases
2020 |  | $ | 13.8 |
2021 |  | 10.9 |
2022 |  | 10.0 |
2023 |  | 9.9 |
2024 |  | 9.7 |
Thereafter |  | 35.5 |
Total lease payments |  | 89.8 |
Less: interest |  | (21.2 | )
Total present value of lease liabilities |  | $ | 68.6 |
The Company currently leases its headquarters office facility from an entity owned by the Company’s principal shareholders. Total expense recorded was $1.0 million in 2019 and 2018 and $0.9 million in 2017, to related parties. The ROU assets and corresponding lease liabilities are recorded based upon the net present value of the remaining lease payments, discounted using interest rates determined by utilizing such factors as the Company's current credit facility terms, the length of the remaining term of the lease, the Company's expected debt credit rating and comparable company term loan yields. Adoption of the new standard resulted in the Company recording ROU assets and lease liabilities of approximately $54 million and $64 million, respectively, at January 1, 2019. Certain leases may include options to extend the lease, however the Company is not including any impact of such options in the valuation of its ROU assets or liabilities as they are not currently considered probable of being extended. The Company’s lease agreements do not contain residual value guarantees or restrictive covenants. The Company has sublease agreements for certain unused facilities. For the year ended December 31, 2019, the Company recorded $1.9 million of sublease income in continuing and discontinued operations. Future rent streams related to sublease agreements of $1.7 million to be collected in less than one year and $1.9 million to be collected between one and three years.

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- 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
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