Lease Commitments (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The details of the impact of the changes made to the Company’s consolidated balance sheet date as of January 1, 2019, the date of adoption, are reflected in the following table.

(In thousands)	Debit/(Credit)
Right-of-use assets	$	46,162
Prepaid rent	(646		)
Short-term lease liability	(8,892		)
Short-term deferred rent	274
Long-term lease liability	(42,639		)
Long-term deferred rent	5,741
Deferred tax asset	11,629
Deferred tax liability	(11,629		)

Lease, Cost

Expense for leases less than 12 months for the year ended December 31, 2019 were not material. The components of lease expense for the year ended December 31, 2019 are as follows:

(In thousands)	December 31, 2019
Operating lease cost	$	12,538

Lessee, Operating Leases

As of December 31, 2019, the Company’s operating lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheet as follows:

(In thousands)	Classification	December 31, 2019
Assets
Right-of-use assets	Right-of-use assets	$	50,160
Liabilities
Short-term lease liability	Other accrued liabilities	10,025
Long-term lease liability	Long-term lease liability	43,827
Total lease liabilities		$	53,852

The Company combines the amortization of the ROU assets and the change in the operating lease liability in the same line item in the Statement of Cash Flows. Other information related to the Company’s operating leases was as follows:

(In thousands)	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from leases	$	11,137
Lease Term and Discount Rate
Weighted average remaining lease term (years)	8.36
Weighted average discount rate	4.93		%

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments for noncancellable operating leases as of December 31, 2019, were as follows:

(In thousands)	Operating Leases
2020	$	12,407
2021	10,221
2022	6,909
2023	6,055
2024	5,052
Thereafter	26,904
Total	$	67,548
Less: Interest	13,696
Present value of lease liabilities	$	53,852

Future Minimum Lease Payments

Future minimum lease payments for noncancellable operating leases as of December 31, 2018, were as follows:

(In thousands)	Operating Leases
2019	$	11,360
2020	8,906
2021	6,836
2022	5,431
2023	5,208
Thereafter	27,153
Total	$	64,894