LEASES

6 Months Ended

Jun. 30, 2019

Lessee Disclosure [Abstract]

LEASES

NOTE 7:- LEASES

The Company leases offices, plants and vehicles under operating and finance leases. For leases with terms greater than 12 months, the Company records the related asset and liability at the present value of lease payments according to their term. Several of the Company’s leases include renewal options and some have termination options that are factored into the Company’s determination of the lease payments when appropriate. The Company estimates the incremental borrowing rate in order to discount the lease payments based on the information available at the lease commencement date.

The following table summarizes the Company’s lease-related assets and liabilities recorded on the condensed consolidated balance sheet:

	Classification on the condensed consolidated Balance Sheet	As of June 30, 2019
		(unaudited)
Assets
Operating lease assets, net of lease incentive obligation	Operating lease right-of-use assets	$	36,788
Finance lease assets	Property, plant and equipment, net		2,922
Total lease assets		$	39,710
Liabilities
Operating and finance leases short term	Accrued expenses and other current liabilities	$	10,134
Operating leases long term	Operating lease liabilities		30,009
Finance leases long term	Other non-current liabilities		2,014
Total lease liabilities		$	42,157
Weighted average remaining lease term in years
Operating leases			4.90
Finance leases			8.42
Weighted average annual discount rate
Operating leases			1.45	%
Finance leases			2.87	%

The following table presents certain information related to the lease costs for operating and finance leases:

	Three months ended		Six months ended
	June 30, 2019
	(unaudited)
Finance lease cost
Amortization of leased assets	$	26	$	53
Interest on lease liabilities		15		31
Operating lease cost		2,384		4,615
Total lease cost	$	2,425	$	4,699

The following table presents supplemental cash flow information related to the lease costs for operating and finance leases:

	Three months ended		Six months ended
	June 30, 2019
	(unaudited)
Cash paid for amounts included in  measurement of lease liabilities
Operating cash flows for operating leases	$	2,384	$	4,615

The following table reconciles the undiscounted cash flows for each of the first five years and total of the remaining years of the operating and finance lease liabilities recorded on the condensed consolidated balance sheets (unaudited):

	Operating Lease			Finance Leases
2019	$	5,548		$	106
2020		9,289			211
2021		8,024			211
2022		7,278			196
2023		6,365			196
Thereafter		5,197			1,654
Total lease payments		41,701			2,574
Less: amount of lease payments representing interest		(1,694	)		(424	)
Present value of future lease payments		40,007			2,150
Less: current obligations under leases		(9,998	)		(136	)
Long-term lease obligations	$	30,009		$	2,014