Commitments (Tables)

3 Months Ended

Mar. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Right-of-use Assets and Lease Liabilities

The table below summarizes the Company’s right-of-use assets and lease liabilities as of March 31, 2020 and December 31, 2019:

(in thousands)	March 31, 2020			December 31, 2019
Assets
Operating	$	107,304		$	66,932
Financing		2,672			1,453
Total leased assets	$	109,976		$	68,385
Liabilities
Current:
Operating	$	7,031		$	5,567
Financing		1,160			672
Long-term:
Operating		116,496			73,153
Financing		1,645			905
Total lease liabilities	$	126,332		$	80,297
Supplemental non-cash information:
Weighted-average remaining lease term (years) - operating leases		13.4			12.4
Weighted-average remaining lease term (years) - finance leases		2.2			2.3
Weighted-average discount rate - operating leases		5.5	%		7.3	%
Weighted-average discount rate - finance leases		4.2	%		5.4	%

Lease Costs, Cash Payments and Operating Lease Liabilities Arising From Obtaining Right-of-use Assets under Operating and Financing Lease Obligations

The table below summarizes the Company’s lease costs, cash payments, and operating lease liabilities arising from obtaining right-of-use assets under its operating and financing lease obligations were as follows:

	Three Months Ended March 31,
(in thousands, except years and rates)	2020		2019
Lease expense:
Operating lease expense	$	3,507	$	2,822
Finance lease expense:
Depreciation of right-of-use assets		258		98
Interest expense on lease liabilities		28		14
Total lease expense	$	3,793	$	2,934
Consolidated Statements of Cash Flows information:
Operating cash flows used for operating leases	$	3,296	$	3,019
Operating cash flows used for financing leases		28		14
Financing cash flows used for financing leases		247		92
Total cash paid for amounts included in the measurement of lease liabilities	$	3,571	$	3,125
Supplemental non-cash information:
Operating lease liabilities arising from obtaining right-of-use assets	$	39,262	$	75,109

Future Minimum Annual Lease Payments under Operating and Financing Leases

The Company’s future minimum annual lease payments under operating and financing leases at March 31, 2020 are as follows:

	Financing			Operating
(in thousands)	Leases			Leases
Remaining 2020	$	943		$	10,242
2021		1,158			13,535
2022		790			13,191
2023		60			12,924
2024		9			11,981
Thereafter		—			116,881
Total minimum lease payments	$	2,960		$	178,754
Less: amount representing interest		(155	)		(55,227	)
Present value of obligations under leases		2,805			123,527
Less: current portion		(1,160	)		(7,031	)
Long-term lease obligations	$	1,645		$	116,496