Commitments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019:

(in thousands)	June 30, 2020			December 31, 2019
Assets
Operating	$	105,863		$	66,932
Financing		2,552			1,453
Total leased assets	$	108,415		$	68,385
Liabilities
Current:
Operating	$	7,502		$	5,567
Financing		1,231			672
Long-term:
Operating		114,881			73,153
Financing		1,462			905
Total lease liabilities	$	125,076		$	80,297
Supplemental non-cash information:
Weighted-average remaining lease term (years) - operating leases		13.2			12.4
Weighted-average remaining lease term (years) - finance leases		2.1			2.3
Weighted-average discount rate - operating leases		5.5	%		7.3	%
Weighted-average discount rate - finance leases		5.1	%		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 June 30,				Six Months Ended June 30,
(in thousands, except years and rates)	2020		2019		2020		2019
Lease expense:
Operating lease expense	$	3,953	$	2,964	$	7,460	$	5,786
Finance lease expense:
Depreciation of right-of-use assets		305		99		563		197
Interest expense on lease liabilities		31		12		59		26
Total lease expense	$	4,289	$	3,075	$	8,082	$	6,009
Consolidated Statements of Cash Flows information:
Operating cash flows used for operating leases	$	3,700	$	3,153	$	6,996	$	6,172
Operating cash flows used for financing leases		31		12		59		26
Financing cash flows used for financing leases		295		93		542		185
Total cash paid for amounts included in the measurement of lease liabilities	$	4,026	$	3,258	$	7,597	$	6,383
Supplemental non-cash information:
Operating lease liabilities arising from obtaining right-of-use assets	$	543	$	2,496	$	39,805	$	77,605

Future Minimum Annual Lease Payments under Operating and Financing Leases

The Company’s future minimum annual lease payments under operating and financing leases at June 30, 2020 are as follows:

	Financing			Operating
(in thousands)	Leases			Leases
Remaining 2020	$	662		$	6,974
2021		1,226			13,798
2022		864			13,332
2023		74			12,991
2024		9			11,995
Thereafter		—			116,884
Total minimum lease payments	$	2,835		$	175,974
Less: amount representing interest		(142	)		(53,591	)
Present value of obligations under leases		2,693			122,383
Less: current portion		(1,231	)		(7,502	)
Long-term lease obligations	$	1,462		$	114,881