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Leases | 6 Months Ended
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Jun. 30, 2020
Leases [Abstract] |
Leases | (3) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one to sixteen years. We determine if an arrangement contains a lease at inception. Some leases include the options to purchase, terminate or extend for one or more years; these options are included in the right-of-use (“ROU”) asset and liability lease term when it is reasonably certain an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate, therefore we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the ROU asset recorded on the balance sheet was determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated in the ROU asset balances recorded on the balance sheet result in variable expenses being incurred when paid during the lease term. Components of lease cost (income) were as follows:
|  | Quarter Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | $ | 2,999 |  |  | $ | 3,675 |  |  | $ | 6,007 |  |  | $ | 7,464 |
Finance lease cost - amortization expense |  | 220 |  |  | 212 |  |  | 435 |  |  | 418 |
Finance lease cost - interest expense |  | 164 |  |  | 115 |  |  | 327 |  |  | 230 |
Short-term lease cost |  | 26 |  |  | 26 |  |  | 53 |  |  | 50 |
Variable lease cost |  | 195 |  |  | 94 |  |  | 245 |  |  | 35 |
Sublease income |  | (152) |  |  | — |  |  | (304) |  |  | — |
Total |  | $ | 3,452 |  |  | $ | 4,122 |  |  | $ | 6,763 |  |  | $ | 8,197 |
Balance sheet classifications at June 30, 2020 and December 31, 2019 are summarized below:
|  | 2020 |  |  |  |  |  | 2019 |  |  |  |
(in thousands) |  | Right of use assets |  | Current right of use liabilities |  | Long-term right of use liabilities |  | Right of use assets |  | Current right of use liabilities |  | Long-term right of use liabilities
Operating Leases |  | $ | 40,268 |  |  | $ | 8,858 |  |  | $ | 36,373 |  |  | $ | 28,571 |  |  | $ | 9,231 |  |  | $ | 24,835 |
Finance Leases |  | 7,775 |  |  | 902 |  |  | 9,966 |  |  | 8,319 |  |  | 338 |  |  | 10,567 |
Total |  | $ | 48,043 |  |  | $ | 9,760 |  |  | $ | 46,339 |  |  | $ | 36,890 |  |  | $ | 9,569 |  |  | $ | 35,402 |
Our future minimum lease payments as of June 30, 2020 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows:
|  | June 30, 2020 |  |
(in thousands) |  | Operating Leases |  | Finance Leases
Years ending June 30: |  |  |  |
2021 |  | $ | 11,104 |  |  | $ | 1,639 |
2022 |  | 8,969 |  |  | 1,536 |
2023 |  | 7,500 |  |  | 1,533 |
2024 |  | 6,609 |  |  | 1,491 |
2025 |  | 4,775 |  |  | 1,375 |
Thereafter |  | 17,399 |  |  | 7,066 |
Total lease payments |  | 56,356 |  |  | 14,640 |
Less: imputed interest |  | (11,125) |  |  | (3,772) |
Present value of lease liabilities |  | $ | 45,231 |  |  | $ | 10,868 |
Supplemental cash flow information related to our operating leases for the periods ending June 30, 2020 and June 30, 2019 were as follows:
(in thousands) |  | June 30, 2020 |  | June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflow from operating leases |  | $ | 6,533 |  |  | $ | 7,610 |
Operating cash outflow from finance leases |  | $ | 280 |  |  | $ | 229 |
Financing cash (inflow) outflow from finance leases |  | $ | (76) |  |  | $ | 338 |
Weighted-average remaining lease terms and discount rate for our operating leases for the period ending June 30, 2020, were as follows:
|  | June 30, 2020 |  |
|  | Operating |  | Financing
Weighted-average remaining lease term |  | 6.0 years |  | 10.0 years
Weighted-average discount rate |  | 6.32 | % |  | 5.99 | %
Leases | (3) Leases We have various lease agreements for our facilities, equipment and vehicles with remaining lease terms ranging from one to sixteen years. We determine if an arrangement contains a lease at inception. Some leases include the options to purchase, terminate or extend for one or more years; these options are included in the right-of-use (“ROU”) asset and liability lease term when it is reasonably certain an option will be exercised. Our leases do not contain any material residual value guarantees or material restrictive covenants. Most of our leases do not provide an implicit rate, therefore we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of the future lease payments. Certain of our leases include variable costs. Variable costs include non-lease components that were incurred based upon actual terms rather than contractually fixed amounts. In addition, variable costs are incurred for lease payments that are indexed to a change in rate or index. Because the ROU asset recorded on the balance sheet was determined based upon factors considered at the commencement date, subsequent changes in the rate or index that were not contemplated in the ROU asset balances recorded on the balance sheet result in variable expenses being incurred when paid during the lease term. Components of lease cost (income) were as follows:
|  | Quarter Ended June 30, |  |  |  | Six Months Ended June 30, |  |
(in thousands) |  | 2020 |  | 2019 |  | 2020 |  | 2019
Operating lease cost |  | $ | 2,999 |  |  | $ | 3,675 |  |  | $ | 6,007 |  |  | $ | 7,464 |
Finance lease cost - amortization expense |  | 220 |  |  | 212 |  |  | 435 |  |  | 418 |
Finance lease cost - interest expense |  | 164 |  |  | 115 |  |  | 327 |  |  | 230 |
Short-term lease cost |  | 26 |  |  | 26 |  |  | 53 |  |  | 50 |
Variable lease cost |  | 195 |  |  | 94 |  |  | 245 |  |  | 35 |
Sublease income |  | (152) |  |  | — |  |  | (304) |  |  | — |
Total |  | $ | 3,452 |  |  | $ | 4,122 |  |  | $ | 6,763 |  |  | $ | 8,197 |
Balance sheet classifications at June 30, 2020 and December 31, 2019 are summarized below:
|  | 2020 |  |  |  |  |  | 2019 |  |  |  |
(in thousands) |  | Right of use assets |  | Current right of use liabilities |  | Long-term right of use liabilities |  | Right of use assets |  | Current right of use liabilities |  | Long-term right of use liabilities
Operating Leases |  | $ | 40,268 |  |  | $ | 8,858 |  |  | $ | 36,373 |  |  | $ | 28,571 |  |  | $ | 9,231 |  |  | $ | 24,835 |
Finance Leases |  | 7,775 |  |  | 902 |  |  | 9,966 |  |  | 8,319 |  |  | 338 |  |  | 10,567 |
Total |  | $ | 48,043 |  |  | $ | 9,760 |  |  | $ | 46,339 |  |  | $ | 36,890 |  |  | $ | 9,569 |  |  | $ | 35,402 |
Our future minimum lease payments as of June 30, 2020 under operating lease and finance leases, with initial or remaining lease terms in excess of one year, were as follows:
|  | June 30, 2020 |  |
(in thousands) |  | Operating Leases |  | Finance Leases
Years ending June 30: |  |  |  |
2021 |  | $ | 11,104 |  |  | $ | 1,639 |
2022 |  | 8,969 |  |  | 1,536 |
2023 |  | 7,500 |  |  | 1,533 |
2024 |  | 6,609 |  |  | 1,491 |
2025 |  | 4,775 |  |  | 1,375 |
Thereafter |  | 17,399 |  |  | 7,066 |
Total lease payments |  | 56,356 |  |  | 14,640 |
Less: imputed interest |  | (11,125) |  |  | (3,772) |
Present value of lease liabilities |  | $ | 45,231 |  |  | $ | 10,868 |
Supplemental cash flow information related to our operating leases for the periods ending June 30, 2020 and June 30, 2019 were as follows:
(in thousands) |  | June 30, 2020 |  | June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |
Operating cash outflow from operating leases |  | $ | 6,533 |  |  | $ | 7,610 |
Operating cash outflow from finance leases |  | $ | 280 |  |  | $ | 229 |
Financing cash (inflow) outflow from finance leases |  | $ | (76) |  |  | $ | 338 |
Weighted-average remaining lease terms and discount rate for our operating leases for the period ending June 30, 2020, were as follows:
|  | June 30, 2020 |  |
|  | Operating |  | Financing
Weighted-average remaining lease term |  | 6.0 years |  | 10.0 years
Weighted-average discount rate |  | 6.32 | % |  | 5.99 | %

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=77888251 + Details
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