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Leases (Notes)

6 Months Ended

Jun. 30, 2020

Leases [Abstract]

Leases

Leases

Lessee

The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet were as follows:

						Balance Sheet Location						June 30, 2020						December 31, 2019
Right-of-use assets
Operating						Operating right-of-use assets						$	24,892					$	28,178
Financing						Property, plant and equipment, net						440						505
Total right-of use assets												$	25,332					$	28,683
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	25,450					$	28,577
Financing						Long-term debt, current and long-term portions						531						590
Total lease liabilities												$	25,981					$	29,167

Operating lease costs are recorded as a single expense on the income statement and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated income statement for the three and six months ended June 30, 2020 and 2019 was as follows:

			Three Months Ended June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
Finance lease cost
Amortization of right-of-use assets			$	35					$	34					69						64
Interest on lease liabilities			9						11						19						22
Operating lease cost			3,105						4,257						7,095						7,364
Short-term lease cost			64						120						234						134
Total lease cost			$	3,213					$	4,422					7,417						7,584

Other information related to the Company’s leasing activity for the six months ended June 30, 2020 is as follows:

						Six months ended June 30,
						2020						2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	19					$	20
Operating cash flows used for operating leases						$	6,902					$	7,288
Financing cash flows used for finance leases						$	56					$	58
Right-of-use assets obtained in exchange for new finance lease liabilities						$	—					$	55
Right-of-use assets recorded upon adoption						N/A						$	35,939
Right-of-use assets obtained in exchange for new operating lease liabilities						$	4,322					$	4,100
Weighted average remaining lease term - finance leases						3.2 years						4.0 years
Weighted average discount rate - finance leases						6.60		%				6.69		%
Weighted average remaining lease term - operating leases						3.2 years						2.9 years
Weighted average discount rate - operating leases						5.68		%				5.50		%

Maturities of the Company’s lease liabilities as of June 30, 2020 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2020						$	4,257					$	72					$	4,329
2021						9,404						151						9,555
2022						6,976						136						7,112
2023						4,476						245						4,721
2024						2,735						—						2,735
Thereafter						158						—						158
Total cash lease payments						28,006						604						28,610
Less: amounts representing interest						(2,556)						(73)						(2,629)
Total lease liabilities						$	25,450					$	531					$	25,981

Leases

Leases

Lessee

The operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet were as follows:

						Balance Sheet Location						June 30, 2020						December 31, 2019
Right-of-use assets
Operating						Operating right-of-use assets						$	24,892					$	28,178
Financing						Property, plant and equipment, net						440						505
Total right-of use assets												$	25,332					$	28,683
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	25,450					$	28,577
Financing						Long-term debt, current and long-term portions						531						590
Total lease liabilities												$	25,981					$	29,167

Operating lease costs are recorded as a single expense on the income statement and allocated to the right-of-use assets and the related lease liabilities as depreciation expense and interest expense, respectively. Lease cost recognized in the consolidated income statement for the three and six months ended June 30, 2020 and 2019 was as follows:

			Three Months Ended June 30,																		Six Months Ended June 30,
			2020						2019						2020						2019
Finance lease cost
Amortization of right-of-use assets			$	35					$	34					69						64
Interest on lease liabilities			9						11						19						22
Operating lease cost			3,105						4,257						7,095						7,364
Short-term lease cost			64						120						234						134
Total lease cost			$	3,213					$	4,422					7,417						7,584

Other information related to the Company’s leasing activity for the six months ended June 30, 2020 is as follows:

						Six months ended June 30,
						2020						2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	19					$	20
Operating cash flows used for operating leases						$	6,902					$	7,288
Financing cash flows used for finance leases						$	56					$	58
Right-of-use assets obtained in exchange for new finance lease liabilities						$	—					$	55
Right-of-use assets recorded upon adoption						N/A						$	35,939
Right-of-use assets obtained in exchange for new operating lease liabilities						$	4,322					$	4,100
Weighted average remaining lease term - finance leases						3.2 years						4.0 years
Weighted average discount rate - finance leases						6.60		%				6.69		%
Weighted average remaining lease term - operating leases						3.2 years						2.9 years
Weighted average discount rate - operating leases						5.68		%				5.50		%

Maturities of the Company’s lease liabilities as of June 30, 2020 are as follows:

						Operating Leases						Finance Leases						Total
Remainder of 2020						$	4,257					$	72					$	4,329
2021						9,404						151						9,555
2022						6,976						136						7,112
2023						4,476						245						4,721
2024						2,735						—						2,735
Thereafter						158						—						158
Total cash lease payments						28,006						604						28,610
Less: amounts representing interest						(2,556)						(73)						(2,629)
Total lease liabilities						$	25,450					$	531					$	25,981

X

- References

No definition available.

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X

- 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

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X

- 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

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