v3.20.2
Leases (Tables)
 6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Summary of right of use asset and lease liability balances for operating and finance leases
The following tables summarize the ROU asset and lease liability balances for the Partnership’s operating and finance leases at June 30, 2020 and December 31, 2019:
(in thousands)June 30, 2020December 31, 2019
Operating Leases:
ROU asset, net
Railcars$8,994  $10,826  
Real estate and other2,769  2,581  
Lease liability
Railcars$9,327  $11,088  
Real estate and other504  288  
Finance Leases:
ROU asset, net
Real estate and other$151  $201  
Lease liability
Real estate and other$155  $205  
Lease expense, terms, and discount rates For the three and six months ended June 30, 2020 and 2019, we recognized lease expense comprised of the following components:
Three Months Ended
June 30,		Six Months Ended
June 30,
(in thousands)2020201920202019
Operating lease expense$1,033  $1,023  $2,144  $2,046  
Finance lease expense:
Amortization of ROU asset$23  $167  $50  $272  
Interest expense on lease liability2  9  4  15  
The following outlines the remaining lease terms and discount rates used in the measurement of the Partnership’s ROU assets and liabilities at June 30, 2020 and December 31, 2019:
June 30, 2020December 31, 2019
Weighted-average remaining lease term (years)
Operating Leases3.13.4
Finance Leases1.82.3
Weighted-average discount rate
Operating Leases5.1 %5.1 %
Finance Leases3.9 %3.9 %
Summary of remaining minimum lease payments for operating leases
The following summarizes the remaining minimum lease payments through maturity of the Partnership’s ROU assets and liabilities at June 30, 2020:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2020$1,938  $53  
20213,567  107  
20223,131  —  
20231,262  —  
2024579  —  
Thereafter193  —  
Total lease payments 10,670  160  
Less: imputed interest(839) (5) 
Total lease liability$9,831  $155  
Summary of remaining minimum lease payments for finance leases
The following summarizes the remaining minimum lease payments through maturity of the Partnership’s ROU assets and liabilities at June 30, 2020:
(in thousands)Operating LeasesFinancing Leases
Remainder of 2020$1,938  $53  
20213,567  107  
20223,131  —  
20231,262  —  
2024579  —  
Thereafter193  —  
Total lease payments 10,670  160  
Less: imputed interest(839) (5) 
Total lease liability$9,831  $155