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Leases (Tables) | 3 Months Ended
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Mar. 31, 2019
Leases [Abstract] |
Net Lease Cost | The expenses and income generated by the leasing activity of Lawson as lessee for the three months ending March 31, 2019 are as follows (Dollars in thousands):
Lease Type |  | Classification |  | Amount
Consolidated Operating Lease Expense (1) |  | Operating expenses |  | $ | 1,024 |
Consolidated Financing Lease Amortization |  | Operating expenses |  | 48 |
Consolidated Financing Lease Interest |  | Interest expense |  | 6 |
Consolidated Financing Lease Expense |  |  |  | 54 |
Sublease Income (2) |  | Operating expenses |  | (80 | )
Net Lease Cost |  |  |  | $ | 998 |
(1) Includes short term lease expense, which is immaterial (2) Sublease income from sublease of a portion of the Company headquarters
Value of Net Assets and Liabilities of Leasing Activities | The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of March 31, 2019 are as follows (Dollars in thousands):
Lease Type |  | Amount
Total ROU operating lease assets (1) |  | $ | 11,742 |
Total ROU financing lease assets (2) |  | 520 |
Total lease assets |  | $ | 12,262 |
Total current operating lease obligation |  | $ | 3,890 |
Total current financing lease obligation |  | 200 |
Total current lease obligations |  | $ | 4,090 |
Total long term operating lease obligation |  | $ | 10,917 |
Total long term financing lease obligation |  | 321 |
Total long term lease obligation |  | $ | 11,238 |
The adoption of ASC 842 resulted in the removal of property, plant and equipment of $4.5 million and capital lease obligations and deferred rent of $6.4 million. Additionally, the Company included in its balance sheet as of March 31, 2019 ROU assets of $12.3 million and lease obligations of $15.3 million. On a pro-forma basis, as if the previously accounting was in effect, the Company's total assets, liabilities and shareholders equity as of March 31, 2019 would have been $193.2 million, $88.4 million and $104.7 million, respectively. (1) Operating lease assets are recorded net of accumulated amortization of $0.8 million as of March 31, 2019 (2) Financing lease assets are recorded net of accumulated amortization less than $0.1 million as of March 31, 2019
Value of Lease Liabilities Generated by Leasing Activities | The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of March 31, 2019 are as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 4,529 |  |  | $ | 222 |  |  | $ | 4,751 |
Year two |  | 4,017 |  |  | 190 |  |  | 4,207 |
Year three |  | 4,025 |  |  | 100 |  |  | 4,125 |
Year four |  | 2,542 |  |  | 38 |  |  | 2,580 |
Year five |  | 973 |  |  | 11 |  |  | 984 |
Subsequent years |  | 203 |  |  | — |  |  | 203 |
Total lease payments |  | 16,289 |  |  | 561 |  |  | 16,850 |
Less: Interest |  | 1,482 |  |  | 40 |  |  | 1,522 |
Present value of lease liabilities |  | $ | 14,807 |  |  | $ | 521 |  |  | $ | 15,328 |
Note: Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance
Lease Disclosures | The weighted average lease terms and interest rates of the leases held by Lawson as of March 31, 2019 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 3.9 |  | 5.2%
Financing Leases |  | 2.9 |  | 5.5%
The cash outflows of the leasing activity of Lawson as lessee for the three months ending March 31, 2019 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 808 |
Operating cash flows from financing leases |  | Operating activities |  | 6 |
Financing cash flows from financing leases |  | Financing activities |  | 52 |
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | The cash outflows of the leasing activity of Lawson as lessee for the three months ending March 31, 2019 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 808 |
Operating cash flows from financing leases |  | Operating activities |  | 6 |
Financing cash flows from financing leases |  | Financing activities |  | 52 |
Operating Lease Income | The income generated by Lawson as lessor for the three months ending March 31, 2019 are as follows (Dollars in thousands):
Lease Income Related To Lease Payments |  | Amount
Operating Leases |  | $ | 42 |
Financing Leases |  | — |
Total lease payments |  | $ | 42 |

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- Definition Tabular disclosure for lessee's operating leases. Includes, but is not limited to, description of lessee's operating lease, existence and terms of renewal or purchase options and escalation clauses, restrictions imposed by lease, such as those concerning dividends, additional debt, and further leasing, rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=115931803&loc=d3e12069-110248 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41499-112717 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 55 -Paragraph 40 -Subparagraph (Note 1,3) -URI http://asc.fasb.org/extlink&oid=82846649&loc=d3e38371-112697 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84164451&loc=d3e36991-112694 + Details
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