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Leases (Tables)
 12 Months Ended
Dec. 31, 2020
Leases [Abstract]  
Components of lease expense, and lease assets and liabilities

The components of lease expense were as follows:

 

 

 

Year Ended December 31,

 

(in thousands)

 

2020

 

 

2019

 

Finance lease cost:

 

 

 

 

 

 

 

 

Amortization of right-of-use assets (included in depreciation expense)

 

$

727

 

 

$

711

 

Interest on lease liabilities

 

 

428

 

 

 

548

 

Operating lease cost

 

 

15,930

 

 

 

17,014

 

Short-term lease cost

 

 

573

 

 

 

566

 

Variable lease cost

 

 

1,748

 

 

 

1,899

 

Total lease cost

 

$

19,406

 

 

$

20,738

 

 

 

 

 

 

 

 

 

 

Other information:

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows used for finance lease

 

$

462

 

 

$

578

 

Operating cash flows used for operating leases

 

$

15,627

 

 

$

15,169

 

Financing cash flows used for finance lease

 

$

1,351

 

 

$

1,168

 

Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

17,607

 

 

$

15,501

 

 

The lease assets and liabilities as of December 31, 2020 were as follows (in thousands):

 

 

December 31,

 

 

 

2020

 

 

2019

 

Finance lease right-of-use assets (included in other assets)

 

$

2,448

 

 

$

2,311

 

Operating lease right-of-use assets

 

$

79,966

 

 

$

76,859

 

Finance lease liability, current (included in current installments of long-term

   debt)

 

$

1,661

 

 

$

1,325

 

Finance lease liability, noncurrent (included in long-term debt)

 

$

2,832

 

 

$

3,654

 

Operating lease liabilities, current (included in accrued liabilities)

 

$

11,516

 

 

$

11,043

 

Operating lease liabilities, noncurrent

 

$

72,120

 

 

$

67,898

 

Weighted average remaining lease term – finance leases

 

3.0 years

 

 

3.5 years

 

Weighted average remaining lease term – operating leases

 

10.0 years

 

 

10.2 years

 

Weighted average discount rate – finance leases

 

 

9.0

%

 

 

10.1

%

Weighted average discount rate – operating leases

 

 

4.4

%

 

 

4.7

%
Future annual minimum lease payments and finance lease commitments

Future annual minimum lease payments and finance lease commitments as of December 31, 2020 were as follows (in thousands):

 

Year ending December 31,

 

Operating

Leases

 

 

Finance

Leases

 

2021

 

$

14,284

 

 

$

2,010

 

2022

 

 

12,480

 

 

 

2,047

 

2023

 

 

11,065

 

 

 

659

 

2024

 

 

10,052

 

 

 

194

 

2025

 

 

9,116

 

 

 

161

 

2026 and thereafter

 

 

48,224

 

 

 

—

 

Total minimum lease payments

 

$

105,221

 

 

$

5,071

 

Less: imputed interest

 

 

(21,585

)

 

 

(578

)

Present value of lease liabilities

 

$

83,636

 

 

$

4,493