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Leases (Tables) | 9 Months Ended
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Sep. 30, 2020
Leases [Abstract] |
Net Lease Cost | The expenses and income generated by the leasing activity of Lawson as lessee for the three months ended September 30, 2020 and September 30, 2019 are as follows (Dollars in thousands):
Lease Type |  | Classification |  | Three Months Ended September 30, 2020 |  | Three Months Ended September 30, 2019
Consolidated Operating Lease Expense (1) |  | Operating expenses |  | $ | 1,262 |  |  | $ | 1,190 |
Consolidated Financing Lease Amortization |  | Operating expenses |  | 63 |  |  | $ | 60 |
Consolidated Financing Lease Interest |  | Interest expense |  | 8 |  |  | 10 |
Consolidated Financing Lease Expense |  |  |  | 71 |  |  | 70 |
Sublease Income (2) |  | Operating expenses |  | — |  |  | — |
Net Lease Cost |  |  |  | $ | 1,333 |  |  | $ | 1,260 |
(1) Includes short term lease expense, which is immaterial (2) Sublease income from sublease of a portion of the Company headquarters. The sublease was terminated in June 2019 and the Company has no other subleases.
Operating Lease Assets And Liabilities | The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of September 30, 2020 and December 31, 2019 are as follows (Dollars in thousands):
Lease Type |  | September 30, 2020 |  | December 31, 2019
Total Right Of Use ("ROU") operating lease assets (1) |  | $ | 8,938 |  |  | $ | 10,592 |
Total ROU financing lease assets (2) |  | 575 |  |  | 654 |
Total lease assets |  | $ | 9,513 |  |  | $ | 11,246 |
Total current operating lease obligation |  | $ | 4,276 |  |  | $ | 3,591 |
Total current financing lease obligation |  | 233 |  |  | 239 |
Total current lease obligations |  | $ | 4,509 |  |  | $ | 3,830 |
Total long term operating lease obligation |  | $ | 6,414 |  |  | $ | 9,133 |
Total long term financing lease obligation |  | 279 |  |  | 371 |
Total long term lease obligation |  | $ | 6,693 |  |  | $ | 9,504 |
(1) Operating lease assets are recorded net of accumulated amortization of $5.1 million and $2.4 million as of September 30, 2020 and December 31, 2019, respectively (2) Financing lease assets are recorded net of accumulated amortization of $0.4 million and $0.2 million as of September 30, 2020 and December 31, 2019, respectively
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 September 30, 2020 were as follows (Dollars in thousands):
Maturity Date of Lease Liabilities |  | Operating Leases |  | Financing Leases |  | Total
Year one |  | $ | 4,599 |  |  | $ | 254 |  |  | $ | 4,853 |
Year two |  | 3,780 |  |  | 153 |  |  | 3,933 |
Year three |  | 1,733 |  |  | 101 |  |  | 1,834 |
Year four |  | 720 |  |  | 35 |  |  | 755 |
Year five |  | 175 |  |  | 2 |  |  | 177 |
Subsequent years |  | 471 |  |  | — |  |  | 471 |
Total lease payments |  | 11,478 |  |  | 545 |  |  | 12,023 |
Less: Interest |  | 788 |  |  | 33 |  |  | 821 |
Present value of lease liabilities |  | $ | 10,690 |  |  | $ | 512 |  |  | $ | 11,202 |
(1) Minimum lease payments exclude payments to landlord for real estate taxes and common area maintenance $0.7 million
Lease Disclosures | The weighted average lease terms and interest rates of the leases held by Lawson as of September 30, 2020 are as follows:
Lease Type |  | Weighted Average Term in Years |  | Weighted Average Interest Rate
Operating Leases |  | 3.1 |  | 5.08%
Financing Leases |  | 2.7 |  | 5.37%
Schedule of Cash Flow, Supplemental Disclosures | The cash outflows of the leasing activity of Lawson as lessee for the nine months ending September 30, 2020 are as follows (Dollars in thousands):
Cash Flow Source |  | Classification |  | Amount
Operating cash flows from operating leases |  | Operating activities |  | $ | 3,072 |
Operating cash flows from financing leases |  | Operating activities |  | 22 |
Financing cash flows from financing leases |  | Financing activities |  | 192 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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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/otherTransitionRef -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 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 3: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=118943654&loc=d3e12069-110248 Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -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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