Leases

12 Months Ended

Dec. 31, 2020

Disclosures subsequent to the adoption of ASC 842

Lessee

At December 31, 2020 and 2019, the operating and financing components of the Company’s right-of-use assets and lease liabilities on the consolidated balance sheet are as follows:


	Balance Sheet Location	December 31,
		2020		2019
Right-of-use assets
Operating	Operating right-of-use assets	$	32,099	$	28,178
Financing	Property, plant and equipment, net	373		505
Total right-of use assets		$	32,472	$	28,683

Lease liabilities
Operating	Operating lease liabilities, current and long-term portions	$	34,097	$	28,577
Financing	Long-term debt, current and long-term portions	474		590
Total lease liabilities		$	34,571	$	29,167

Operating lease costs are recorded in 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 years ended December 31, 2020 and 2019 is as follows:


	Year ended December 31,
	2020		2019
Finance lease cost
Amortization of right-of-use assets	$	139	$	134
Interest on lease liabilities	36		43
Operating lease cost	12,087		16,640
Short-term lease cost	238		470


Total lease cost	$	12,500	$	17,287

Other information related to the Company’s leasing activity for year ended December 31, 2020 and 2019 is as follows:


	Year ended December 31,
	2020			2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows used for finance leases	$	36		$	43
Operating cash flows used for operating leases	$	10,523		$	16,714
Financing cash flows used for finance leases	$	115		$	104

Right-of-use assets obtained in exchange for new finance lease liabilities	$	—		$	55
Right of use assets upon adoption				$	35,939
Right-of-use assets obtained in exchange for new operating lease liabilities	$	15,510		$	7,251


Weighted average remaining lease term - finance leases	2.6 years			3.6 years
Weighted average discount rate - finance leases	6.60		%	6.55		%
Weighted average remaining lease term - operating leases	3.9 years			2.6 years
Weighted average discount rate - operating leases	5.78		%	5.50		%

Maturities of the Company’s lease liabilities as of December 31, 2020 are as follows:


Year	Operating Leases		Finance Leases		Total
2021	$	8,835	$	151	$	8,986
2022	8,753		136		8,889
2023	7,858		245		8,103
2024	6,499		—		6,499
2025 and thereafter	3,173		—		3,173

Total cash lease payments	39,118		532		39,650
Less: amounts representing interest	(5,021)		(58)		(5,079)
Total lease liabilities	$	34,097	$	474	$	34,571