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v3.19.3.a.u2

Leases | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Leases | Note 8 – Leases The Company determines if a contract is or contains a lease at inception. The Company has entered into leases for certain facilities, vehicles and other equipment. The Company’s leases consist mainly of operating leases which expire at various dates through 2036. Variable lease payments are generally expensed as incurred and include certain index-based changes in rent, certain nonlease components, such as maintenance and other services provided by the lessor, and other charges included in the lease. The components of lease expense were as follows:
|  |  | Year Ended
(in thousands) |  | December 31, 2019
Finance lease cost: |  |  |  |
| Amortization of right-of-use assets (included in depreciation expense) |  | $ | 711
| Interest on lease liabilities |  |  |  | 548
Operating lease cost |  |  |  | 17,014
Short-term lease cost |  |  |  | 566
Variable lease cost |  |  |  | 1,899
| Total lease cost |  |  | $ | 20,738
Other information: |  |  |  |
| Cash paid for amounts included in the measurement of lease liabilities: |  |  |
| Operating cash flows used for finance lease |  |  | $ | 578
| Operating cash flows used for operating leases |  |  | $ | 15,169
| Financing cash flows used for finance lease |  |  | $ | 1,168
| Right-of-use assets obtained in exchange for new operating lease liabilities |  | $ | 15,501
The lease assets and liabilities as of December 31, 2019 were as follows (in thousands):
|  |  |  | December 31,
|  |  |  |  |  | 2019
Finance lease right-of-assets (included in other assets) |  |  |  | $ | 2,311
Operating lease right-of-use assets |  |  |  | $ | 76,859
Finance liability, current (included in current installments of long-term debt) |  |  |  | $ | 1,325
Finance lease liability, noncurrent (included in long-term debt) |  |  |  | $ | 3,654
Operating lease liabilities, current (included in accrued liabilities) |  |  |  | $ | 11,043
Operating lease liabilities, noncurrent |  |  |  | $ | 67,898
Weighted average remaining lease term – finance leases |  |  |  | 3.5 years
Weighted average remaining lease term – operating leases |  |  |  | 10.2 years
Weighted average discount rate – finance leases |  |  |  |  | 10.1%
Weighted average discount rate – operating leases |  |  |  |  | 4.7%
Future annual minimum lease payments and finance lease commitments as of December 31, 2019 were as follows (in thousands):
|  | Operating |  | Finance
Year ending December 31, |  | Leases |  |  | Leases
| 2020 | $ | 14,552 |  | $ | 1,781
| 2021 |  | 12,168 |  |  | 1,816
| 2022 |  | 10,399 |  |  | 1,853
| 2023 |  | 9,751 |  |  | 465
| 2024 |  | 8,585 |  |  | —
| 2025 and thereafter |  | 46,016 |  |  | —
| Total minimum lease payments | $ | 101,471 |  | $ | 5,915
| Less: imputed interest |  | (22,530) |  |  | (936)
| Present value of lease liabilities | $ | 78,941 |  | $ | 4,979
As of December 31, 2019, the Company’s future operating leases that have not yet commenced are immaterial.Future annual minimum lease payments and capital lease commitments in effect as of December 31, 2018 having a noncancelable term in excess of one year as determined prior to the adoption of ASU 842 were as follows (in thousands):
|  |  | Operating |  |  | Capital
Year ending December 31, |  | Leases |  |  | Leases
| 2019 | $ | 15,272 |  | $ | 1,746
| 2020 |  | 14,518 |  |  | 1,781
| 2021 |  | 12,203 |  |  | 1,816
| 2022 |  | 10,466 |  |  | 1,853
| 2023 |  | 9,890 |  |  | 465
| Thereafter |  | 47,868 |  |  | —
| Total minimum lease payments | $ | 110,217 |  | $ | 7,661
| Less: amount representing interest |  |  |  |  | (1,514)
| Present value of minimum lease payments |  |  |  |  | 6,147
| Less: current installments |  |  |  |  | (1,168)
| Capital lease obligations, less current installments |  |  |  | $ | 4,979

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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