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Leases (Tables) | 12 Months Ended
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Dec. 31, 2019
Leases [Abstract] |
Summary of lease information | The following table summarizes lease information as of and for the year ended December 31, 2019:
Lease cost |  |  |  |
Operating lease cost |  | $ | 10,190,243 |
Finance lease cost: |  |  |  |
Amortization of right-of-use assets |  |  | 22,088 |
Interest on lease liabilities |  |  | 11,285 |
Short-term lease cost |  |  | 28,800 |
Total lease cost |  | $ | 10,252,416 |
Other information |  |  |  |
Operating cash flows from operating leases |  | $ | 9,901,889 |
Operating cash flows from finance leases |  |  | 11,285 |
Financing cash flows from finance leases |  |  | 67,492 |
Right-of-use assets obtained in exchange for new operating lease liabilities |  |  | 5,523,800 |
Right-of-use assets obtained in exchange for new finance lease liabilities |  |  | — |
Weighted-average remaining lease term – operating leases |  |  | 6.6 years |
Weighted-average remaining lease term – finance leases |  |  | 26.0 years |
Weighted-average discount rate – operating leases |  |  | 8.5 | %
Weighted-average discount rate – finance leases |  |  | 3.9 | %
Schedule of future minimum lease payments | As of December 31, 2019, future minimum payments for operating and finance leases for the next five years and thereafter are summarized as follows:
2020 |  | $ | 10,572,301 |
2021 |  |  | 9,445,943 |
2022 |  |  | 8,196,446 |
2023 |  |  | 6,825,678 |
2024 |  |  | 5,587,119 |
Thereafter |  |  | 18,051,059 |
Total lease payments |  |  | 58,678,546 |
Less imputed interest |  |  | (16,461,038 | )
Present value of lease liabilities |  | $ | 42,217,508 |
As of December 31, 2018, future minimum payments for operating and finance leases for the next five years and thereafter were summarized as follows:
2019 |  | $ | 9,800,202 |
2020 |  |  | 9,946,823 |
2021 |  |  | 8,881,584 |
2022 |  |  | 7,662,679 |
2023 |  |  | 6,305,127 |
Thereafter |  |  | 19,974,004 |
Total |  | $ | 62,570,419 |

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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980 + Details
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