Leases

3 Months Ended

Mar. 31, 2020

Note 12 – Leases

The Company has operating leases for office, manufacturing and research and development facilities, as well as land leases for certain manufacturing facilities that are accounted for as operating leases. The Company also has operating leases for office equipment and automobiles. Excluding land leases, our leases have remaining lease terms ranging from less than 1 year to 12 years and may include options to extend the lease for an additional term equal to the original term of the lease. Land leases have remaining lease terms that range from 41 to 43 years and some which specify that the end of the lease term is at the discretion of the lessee. The Company does not have lease arrangements with related parties.

Components of lease expense for the three months ended March 31, 2020 were as follows:

	Three Months Ended
	March 31, 2020
Lease cost:
Operating lease cost	$	1,586
Short-term lease cost		509
Sublease income		(40	)
Total lease cost	$	2,055

Other information related to leases is as follows:

	Three Months Ended
	March 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	1,621
Right-of-use lease assets obtained in exchange for lease obligations:
Operating leases	$	6,349
	March 31, 2020
Weighted average remaining lease term:
Operating leases	6.5 years
Weighted average discount rate:
Operating leases		5.08	%

A summary of operating leases as of March 31, 2020, under all non-cancellable operating leases with terms exceeding one year is as follows:

2020 (excluding the three months ended March 31, 2020)	$	4,252
2021		4,153
2022		1,997
2023		1,256
2024		1,258
2025 or later		5,468
Total future minimum lease payments		18,384
Less imputed interest		(2,780	)
Total	$	15,604