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Leases
 6 Months Ended
Jun. 30, 2019
Leases [Abstract]  
Leases Leases
We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets, Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheet. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease and, when it is reasonably certain that such an option will be exercised, it is included in the determination of the corresponding assets and liabilities. Short-term leases are not recognized on our unaudited Condensed Consolidated Balance Sheets. Lease expense for all lease payments is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has entered into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. The leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions.

The components of lease expense were as follows:
Three Months Ended
June 30, 2019		Six Months Ended
June 30, 2019
Finance lease cost:
     Amortization of right-of-use asset$157 $305 
     Interest on lease liabilities17 35 
     Total finance lease cost 174 340 
Operating lease cost 7,931 15,501 
Short-term lease cost 4,116 8,397 
Total lease cost $12,221 $24,238 

Supplemental cash flow information related to leases was as follows:

Six Months Ended
June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$15,295 
     Operating cash flows from finance leases30 
     Financing cash flows from finance leases2,377 
Non-cash information:
Right-of-use assets obtained in exchange for lease obligations:
     Operating leases9,419 
     Finance leases593 

Supplemental balance sheet information related to leases was as follows:
June 30,
2019
Operating Leases
Operating lease right-of-use assets$115,284 
Operating lease liabilities – short term 26,022 
Operating lease liabilities – long term 89,503 
     Total operating lease liabilities$115,525 
Finance Leases
Property, plant and equipment – gross$2,354 
Accumulated depreciation (1,034)
     Property, plant and equipment – net$1,320 
Accounts payable591 
Other liabilities 739 
     Total finance lease liabilities $1,330 
Weighted Average Remaining Lease Term
     Operating leases 10.64 years
     Finance leases 2.38 years
Weighted Average Discount Rate
     Operating leases 6.14 %
     Finance leases 5.20 %

The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new leasing standard on January 1, 2019 was as follows:
Balance Sheet accounts prior to new leasing standard adoption adjustmentsAdjustments due to the adoption of the new leasing standardBalance Sheet accounts after the new leasing standard adoption adjustments
ASSETS
Property, plant and equipment – net$1,032 $— $1,032 
Operating lease right-of-use assets— 117,921 117,921 
Total assets 1,034,626 $117,921 1,152,547 
LIABILITIES AND EQUITY
Current Liabilities:
   Accounts payable$318 $— $318 
   Operating lease liabilities – short term— 24,794 24,794 
      Total current liabilities284,724 24,794 309,518 
Operating lease liabilities – long term— 93,127 93,127 
Other liabilities762 — 762 
Total liabilities614,288 117,921 732,209 
Total equity 420,338 — 420,338 
Total liabilities and equity1,034,626 $117,921 1,152,547 

Maturities of lease liabilities were as follows:
Year Ending December 31, Operating Leases Finance Leases
2019 (remainder) $16,402 $332 
202031,412 610 
202119,736 374 
202214,973 99 
202312,350 — 
Thereafter70,291 — 
     Total lease payments 165,164 1,415 
Less imputed interest (49,639)(85)
     Total $115,525 $1,330 

As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows:
Year Ending December 31,Operating LeasesCapital Leases
2019$36,110 $239 
202029,318 212 
202116,111 131 
202211,571 89 
20239,104 — 
Thereafter26,627 — 
Total lease payments$128,841 $671 
Leases Leases
We determine if an arrangement is a lease at inception. Operating leases are included in Operating lease right-of-use assets, Operating lease liabilities – short-term, and Operating lease liabilities – long-term in our Condensed Consolidated Balance Sheet. Finance leases are included in Property, plant and equipment – net, Accounts payable, and Other liabilities in our Condensed Consolidated Balance Sheets.

ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. We use the implicit rate when readily determinable. The operating lease ROU asset also includes any lease payments made and excludes lease incentives. Our lease terms may include options to extend or terminate the lease and, when it is reasonably certain that such an option will be exercised, it is included in the determination of the corresponding assets and liabilities. Short-term leases are not recognized on our unaudited Condensed Consolidated Balance Sheets. Lease expense for all lease payments is recognized on a straight-line basis over the lease term.

We have lease agreements with lease and non-lease components, which are generally accounted for separately. Additionally, for certain equipment leases, we apply a portfolio approach to effectively account for the operating lease ROU assets and liabilities. The Company has entered into agreements to lease transportation equipment, storage facilities, office space, dock access and other equipment. The leases have initial terms of up to 20 years with some containing renewal options subject to customary conditions.

The components of lease expense were as follows:
Three Months Ended
June 30, 2019		Six Months Ended
June 30, 2019
Finance lease cost:
     Amortization of right-of-use asset$157 $305 
     Interest on lease liabilities17 35 
     Total finance lease cost 174 340 
Operating lease cost 7,931 15,501 
Short-term lease cost 4,116 8,397 
Total lease cost $12,221 $24,238 

Supplemental cash flow information related to leases was as follows:

Six Months Ended
June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
     Operating cash flows from operating leases$15,295 
     Operating cash flows from finance leases30 
     Financing cash flows from finance leases2,377 
Non-cash information:
Right-of-use assets obtained in exchange for lease obligations:
     Operating leases9,419 
     Finance leases593 

Supplemental balance sheet information related to leases was as follows:
June 30,
2019
Operating Leases
Operating lease right-of-use assets$115,284 
Operating lease liabilities – short term 26,022 
Operating lease liabilities – long term 89,503 
     Total operating lease liabilities$115,525 
Finance Leases
Property, plant and equipment – gross$2,354 
Accumulated depreciation (1,034)
     Property, plant and equipment – net$1,320 
Accounts payable591 
Other liabilities 739 
     Total finance lease liabilities $1,330 
Weighted Average Remaining Lease Term
     Operating leases 10.64 years
     Finance leases 2.38 years
Weighted Average Discount Rate
     Operating leases 6.14 %
     Finance leases 5.20 %

The cumulative effect of the changes made to the Condensed Consolidated Balance Sheets for the adoption of the new leasing standard on January 1, 2019 was as follows:
Balance Sheet accounts prior to new leasing standard adoption adjustmentsAdjustments due to the adoption of the new leasing standardBalance Sheet accounts after the new leasing standard adoption adjustments
ASSETS
Property, plant and equipment – net$1,032 $— $1,032 
Operating lease right-of-use assets— 117,921 117,921 
Total assets 1,034,626 $117,921 1,152,547 
LIABILITIES AND EQUITY
Current Liabilities:
   Accounts payable$318 $— $318 
   Operating lease liabilities – short term— 24,794 24,794 
      Total current liabilities284,724 24,794 309,518 
Operating lease liabilities – long term— 93,127 93,127 
Other liabilities762 — 762 
Total liabilities614,288 117,921 732,209 
Total equity 420,338 — 420,338 
Total liabilities and equity1,034,626 $117,921 1,152,547 

Maturities of lease liabilities were as follows:
Year Ending December 31, Operating Leases Finance Leases
2019 (remainder) $16,402 $332 
202031,412 610 
202119,736 374 
202214,973 99 
202312,350 — 
Thereafter70,291 — 
     Total lease payments 165,164 1,415 
Less imputed interest (49,639)(85)
     Total $115,525 $1,330 

As previously disclosed in our 2018 Form 10-K and under the previous lease accounting standard, future minimum lease payments for leases having initial or remaining non-cancellable lease terms in excess of one year would have been as follows:
Year Ending December 31,Operating LeasesCapital Leases
2019$36,110 $239 
202029,318 212 
202116,111 131 
202211,571 89 
20239,104 — 
Thereafter26,627 — 
Total lease payments$128,841 $671