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Leases | 6 Months Ended
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Jun. 30, 2019
Leases [Abstract] |
Leases of Lessee Disclosure [Text Block] | LEASES All significant lease arrangements are generally recognized at lease commencement. Operating lease right-of-use, or ROU, assets and lease liabilities are recognized at commencement. An ROU asset and corresponding lease liability are not recorded for leases with an initial term of 12 months or less (short-term leases) and we recognize lease expense for these leases as incurred over the lease term. ROU assets represent our right to use an underlying asset during the reasonably certain lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Our lease terms may include options to extend or terminate the lease when it is reasonably certain that we will exercise that option. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. We primarily use our incremental borrowing rate, which is updated quarterly, based on the information available at commencement date, in determining the present value of lease payments. The operating lease ROU asset also includes any lease payments related to initial direct cost and prepayments and excludes lease incentives. Refer to Note 4, "Leases," for additional information. Leases Our adoption of ASU 2016-02, Leases (Topic 842), and subsequent ASUs related to Topic 842, requires us to recognize substantially all leases on the balance sheet as a ROU asset and a corresponding lease liability. The new guidance also requires additional disclosures as detailed below. We adopted this standard on the effective date of January 1, 2019 and used this effective date as the date of initial application. Under this application method, we were not required to restate prior period financial information or provide Topic 842 disclosures for prior periods. We elected the ‘package of practical expedients’ which permitted us to not reassess our prior conclusions related to lease identification, lease classification and initial direct costs, and we did not elect the use of hindsight. We combine ROU asset amortization and the change in the lease liability in the same line item on the Consolidated Statements of Cash Flows. We have operating leases for manufacturing, office, warehouse and distribution space, paperboard sheeting and chipping facilities, equipment and vehicles. We also have finance leases related to our North Carolina converting and manufacturing facilities, as well as for certain office and other equipment. We determine if a contract is a lease at the inception of the arrangement. We review all options to extend, terminate or purchase the ROU assets, and when reasonably certain to exercise, we include the option in the determination of the lease term and lease liability. Our leases have remaining lease terms from less than one year to twelve years, and some of our leases include one or more options to renew. Lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. The lease ROU asset also includes any lease payments made and excludes any lease incentives. When readily determinable, we use the implicit rate in determining the present value of lease payments. When leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the lease commencement date, including the lease term. Short-term leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheet. Lease expense for short-term leases is recognized on a straight-line basis over the lease term. As of June 30, 2019, we did not have any short-term leases. Certain of our leases contain lease and non-lease components that are treated as a single lease component. Our variable lease costs consist primarily of taxes, insurance and common area maintenance. For the six months ended June 30, 2019, sublease income was immaterial to the financial statements. The tables below present financial information associated with our leases. This information is only presented as of, and for the three and six months ended, June 30, 2019. As noted above, we adopted Topic 842 using a transition method that does not require application to periods prior to adoption. LEASE EXPENSE
| Three Months Ended |  | Six Months Ended
(In thousands) | June 30, 2019
Operating lease costs | $ | 3,529 |  |  | $ | 7,009 |
Finance lease costs: |  |  |
Amortization of right-of-use assets | 463 |  |  | 878 |
Interest on lease liabilities | 467 |  |  | 939 |
Total finance lease costs | 930 |  |  | 1,817 |
Variable lease costs | 337 |  |  | 556 |
Total lease costs | $ | 4,796 |  |  | $ | 9,382 |
SUPPLEMENTAL CASH FLOW INFORMATION
| Six Months Ended
(In thousands) | June 30, 2019
Cash paid for amounts included in the measurement of lease liabilities: |
Operating cash flows from operating leases | $ | 8,074 |
Operating cash flows from finance leases | 939 |
Financing cash flows from finance leases | 592 |
Non-cash amounts for lease liabilities arising from obtaining right-of-use assets: |
Operating leases | $ | 937 |
Finance leases | 493 |
SUPPLEMENTAL BALANCE SHEET INFORMATION
(In thousands) | Classification | June 30, 2019
Lease ROU Assets |  |
Operating lease assets | Operating lease right-of-use assets | $ | 75,338 |
Finance lease assets | Property, plant and equipment, net | 16,740 |
Total lease ROU assets |  | $ | 92,078 |
Lease Liabilities |  |
Current operating lease liabilities | Accounts payable and accrued liabilities | $ | 12,396 |
Current finance lease liabilities | Accounts payable and accrued liabilities | 1,381 |
Total current lease liabilities |  | 13,777 |
Non-current operating lease liabilities | Operating lease liabilities | 70,194 |
Non-current finance lease liabilities | Other long-term obligations | 21,376 |
Total non-current lease liabilities |  | 91,570 |
Total lease liabilities |  | $ | 105,347 |
LEASE TERM AND DISCOUNT RATE
| June 30, 2019
Weighted average remaining lease term (years) |
Operating leases | 7.2 |
Finance leases | 11.0 |
Weighted average discount rate |
Operating leases | 4.9 | %
Finance leases | 8.3 | %

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- Definition The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Publisher FASB -Name Accounting Standards Codification -Topic 840 -URI http://asc.fasb.org/topic&trid=2208923 + Details
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