Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Schedule of Lease Related Assets and Liabilities

The following table presents the lease related assets and liabilities recorded on the Consolidated Balance Sheet as of September 30, 2019:

($ in thousands)	Classification on the Consolidated Balance Sheet	September 30, 2019
Assets:
Operating lease assets	Operating lease right-of use assets	$	103,894
Finance lease assets	Premises and equipment	7,932
Total lease assets		$	111,826
Liabilities:
Operating lease liabilities	Operating lease liabilities	$	112,142
Finance lease liabilities	Long-term debt and finance lease liabilities	5,356
Total lease liabilities		$	117,498

Schedule of Lease Costs

The following table presents the components of lease expense for operating and finance leases during the three and nine months ended September 30, 2019:

($ in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Operating lease cost	$	8,596	$	26,346
Finance lease cost:
Amortization of right-of-use assets	251		733
Interest on lease liabilities	38		125
Variable lease cost	31		93
Sublease income	—		(81		)
Net lease cost	$	8,916	$	27,216

Schedule of Supplemental Lease Information

The following table presents the supplemental cash flow information related to leases during the three and nine months ended September 30, 2019:

($ in thousands)	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	8,798	$	26,779
Operating cash flows from finance leases	$	38	$	125
Financing cash flows from finance leases	$	222	$	658
Right-of-use assets obtained in exchange for new lease liabilities:
Operating leases	$	2,794	$	17,961
Financing leases	$	39	$	265

The following table presents the weighted-average remaining lease terms and discount rates related to leases as of September 30, 2019:

	September 30, 2019
Weighted-average remaining lease term (in years):
Operating leases	4.8
Finance leases	16.1
Weighted-average discount rate:
Operating leases	3.23	%
Finance leases	2.75	%

Schedule of Finance Leases, Undiscounted Cash Flow Maturities

The following table presents a maturity analysis of the Company’s operating and finance lease liabilities as of September 30, 2019:

($ in thousands)	Operating Leases			Finance Leases
Remainder of 2019	$	8,713		$	260
2020	32,177			1,037
2021	27,962			1,031
2022	18,278			691
2023	11,254			404
Thereafter	22,559			3,465
Total minimum lease payments	$	120,943		$	6,888
Less: imputed interest	(8,801		)	(1,532		)
Present value of lease liabilities	$	112,142		$	5,356

Schedule of Operating Leases, Undiscounted Cash Flow Maturities

The following table presents a maturity analysis of the Company’s operating and finance lease liabilities as of September 30, 2019:

($ in thousands)	Operating Leases			Finance Leases
Remainder of 2019	$	8,713		$	260
2020	32,177			1,037
2021	27,962			1,031
2022	18,278			691
2023	11,254			404
Thereafter	22,559			3,465
Total minimum lease payments	$	120,943		$	6,888
Less: imputed interest	(8,801		)	(1,532		)
Present value of lease liabilities	$	112,142		$	5,356

Schedule of Net Investment of Direct Financing and Sales-type Leases

The following table presents the components of the net investment in direct financing and sales-type leases as of September 30, 2019:

($ in thousands)	September 30, 2019
Lease receivables	$	132,431
Unguaranteed residual assets	14,767
Net investment in direct financing and sales-type leases	$	147,198

Schedule of Future Minimum Lease Payments Expected To Be Received Under The Direct Financing And Sales-Type Leases

The following table presents future minimum lease payments that are expected to be received under the direct financing and sales-type leases as of September 30, 2019:

($ in thousands)	Direct Financing and Sales-Type Leases
Remainder of 2019	$	6,884
2020	27,566
2021	25,584
2022	18,190
2023	11,995
Thereafter	20,342
Total minimum lease payments	$	110,561
Less: imputed interest	(10,842		)
Present value of lease receivables	$	99,719