COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2020

COMMITMENTS AND CONTINGENCIES

Schedule of recognition of right-of-use assets and lease liabilities for operating leases

Amounts recognized at March 31, 2020 for operating leases was as follows (in thousands):

Right-of-use assets, operating leases - January 1, 2020	$	35,765
Additions		128
Right-of-use assets reduction		(639)
Right-of-use assets, operating leases - March 31, 2020	$	35,254
Operating lease liabilities - January 1, 2020	$	37,606
Additions		128
Liability reduction		(666)
Operating lease liabilities - March 31, 2020	$	37,068
Current portion of operating lease liabilities	$	3,027
Long-term operating lease liabilities	$	34,041

Schedule of lease cost and other information

Following are components of our lease costs (in thousands):

	Three months ended
	March 31,
	2020		2019
Operating leases	$	1,182	$	1,069
Variable lease costs (including insignificant short-term leases)		991		272
Sublease income as primary obligor		(246)		(246)
Total lease costs	$	1,927	$	1,095

Other information related to our operating leases was as follows (in thousands, except lease term and discount rate):

	Three months ended
	March 31,
	2020		2019
Cash outflows for operating leases	$	1,209	$	1,214
Weighted average remaining lease term (years)		18.66		20.54
Weighted average discount rate		5.2%		5.2%

Schedule of future minimum lease payments

Undiscounted cash flows owed by the Company to lessors pursuant to contractual agreements in effect as of March 31, 2020 and related imputed interest was as follows (in thousands):

2020 (remainder of the year)	$	3,400
2021		4,504
2022		4,495
2023		3,956
2024		3,666
Thereafter		39,831
Total lease payments		59,852
Less imputed interest		(22,784)
Present value of operating lease liabilities	$	37,068