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Leases (Notes)

9 Months Ended

Sep. 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						September 30, 2020						December 31, 2019
Right-of-use assets
Operating						Operating right-of-use assets						$	32,198					$	28,178
Financing						Property, plant and equipment, net						400						505
Total right-of use assets												$	32,598					$	28,683
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	33,319					$	28,577
Financing						Long-term debt, current and long-term portions						502						590
Total lease liabilities												$	33,821					$	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 nine months ended September 30, 2020 and 2019 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Finance lease cost
Amortization of right-of-use assets			$	35					$	35					104						99
Interest on lease liabilities			9						10						28						32
Operating lease cost			2,729						4,105						9,824						11,469
Short-term lease cost			4						160						238						294
Total lease cost			$	2,777					$	4,310					10,194						11,894

Other information related to the Company’s leasing activity for the nine months ended September 30, 2020 and 2019 is as follows:

						Nine months ended September 30,
						2020						2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	28					$	33
Operating cash flows used for operating leases						$	9,158					$	12,447
Financing cash flows used for finance leases						$	85					$	79
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						$	13,936					$	5,056
Weighted average remaining lease term - finance leases						2.9 years						3.9 years
Weighted average discount rate - finance leases						6.60		%				6.60		%
Weighted average remaining lease term - operating leases						3.7 years						2.8 years
Weighted average discount rate - operating leases						5.71		%				5.50		%

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

						Operating Leases						Finance Leases						Total
Remainder of 2020						$	2,334					$	34					$	2,368
2021						10,350						151						10,501
2022						8,596						136						8,732
2023						6,316						245						6,561
2024						4,768						—						4,768
Thereafter						5,517						—						5,517
Total cash lease payments						37,881						566						38,447
Less: amounts representing interest						(4,562)						(64)						(4,626)
Total lease liabilities						$	33,319					$	502					$	33,821

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						September 30, 2020						December 31, 2019
Right-of-use assets
Operating						Operating right-of-use assets						$	32,198					$	28,178
Financing						Property, plant and equipment, net						400						505
Total right-of use assets												$	32,598					$	28,683
Lease liabilities
Operating						Operating lease liabilities, current and long-term portions						$	33,319					$	28,577
Financing						Long-term debt, current and long-term portions						502						590
Total lease liabilities												$	33,821					$	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 nine months ended September 30, 2020 and 2019 was as follows:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2020						2019						2020						2019
Finance lease cost
Amortization of right-of-use assets			$	35					$	35					104						99
Interest on lease liabilities			9						10						28						32
Operating lease cost			2,729						4,105						9,824						11,469
Short-term lease cost			4						160						238						294
Total lease cost			$	2,777					$	4,310					10,194						11,894

Other information related to the Company’s leasing activity for the nine months ended September 30, 2020 and 2019 is as follows:

						Nine months ended September 30,
						2020						2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases						$	28					$	33
Operating cash flows used for operating leases						$	9,158					$	12,447
Financing cash flows used for finance leases						$	85					$	79
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						$	13,936					$	5,056
Weighted average remaining lease term - finance leases						2.9 years						3.9 years
Weighted average discount rate - finance leases						6.60		%				6.60		%
Weighted average remaining lease term - operating leases						3.7 years						2.8 years
Weighted average discount rate - operating leases						5.71		%				5.50		%

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

						Operating Leases						Finance Leases						Total
Remainder of 2020						$	2,334					$	34					$	2,368
2021						10,350						151						10,501
2022						8,596						136						8,732
2023						6,316						245						6,561
2024						4,768						—						4,768
Thereafter						5,517						—						5,517
Total cash lease payments						37,881						566						38,447
Less: amounts representing interest						(4,562)						(64)						(4,626)
Total lease liabilities						$	33,319					$	502					$	33,821

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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