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Leases (Tables)

9 Months Ended

Sep. 30, 2019

The following table presents information about the Company's ROU assets and lease liabilities at September 30, 2019 (in thousands):



	Condensed Consolidated Balance Sheets Line Items	September 30, 2019
ROU assets:
Operating lease ROU assets	Operating lease assets	$	53,839
Finance lease ROU assets	Property, plant and equipment, net	59,104
Total ROU assets		$	112,943
Operating lease liabilities:
Current operating lease liabilities	Current portion of operating lease liabilities	$	10,575
Noncurrent operating lease liabilities	Operating lease liabilities, less current portion	50,965
Total operating lease liabilities		$	61,540
Finance lease liabilities:
Current finance lease liabilities	Accounts payable and accrued expenses	$	5,550
Noncurrent finance lease liabilities	Other liabilities	32,768
Total finance lease liabilities		$	38,318

Lease, cost

The following table provides the weighted average remaining lease term and weighted average discount rates for our leases as of September 30, 2019:



	September 30, 2019
Weighted average remaining lease term (years), weighted based on lease liability balances:
Operating leases	6.0 years
Finance leases	9.7 years
Weighted average discount rate (percentages), weighted based on the remaining balance of lease payments:
Operating leases	5.8	%
Finance leases	5.5	%

The following table provides certain cash flow and supplemental noncash information related to our lease liabilities for the nine months ended September 30, 2019 (in thousands):



	Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash payments for operating leases	$	11,200
Operating cash payments for finance leases	$	1,535
Financing cash payments for finance leases	$	7,826
Lease liabilities arising from obtaining right-of-use assets:
Operating leases	$	623
Finance leases	$	5,901

The following table presents information about lease costs and expenses and sublease income for the three and nine months ended September 30, 2019 (in thousands):



	Condensed Consolidated Statements of Operations Line Items	Three Months Ended September 30, 2019			Nine Months Ended September 30, 2019
Operating lease cost	Various (1)	$	3,510		$	10,269
Finance lease cost:
Amortization of ROU assets	Various (1)	$	2,311		$	7,096
Interest on lease liabilities	Interest expense, net	$	271		$	1,256
Other lease costs and income:
Variable lease costs (2)	Various (1)	$	2,318		$	7,185
Sublease income	Various (1)	$	(932	)	$	(2,828	)

__________


(1)	Amounts are included in the Condensed Consolidated Statements of Operations based on the function that the underlying leased asset supports. The following table presents the components of such aggregate amounts for the three and nine months ended September 30, 2019 (in thousands):



	Three Months Ended September 30, 2019		Nine Months Ended September 30, 2019
Cost of revenues	$	2,793	$	8,425
Selling, general and administrative	$	4,347	$	13,145
Research and development	$	67	$	152

(2)

Amounts represent variable lease costs incurred that were not included in the initial measurement of the lease liability, such as common area maintenance and utilities costs associated with leased real estate and certain costs associated with our automobile leases.

Lessee, operating lease, liability, maturity

The following table, determined in accordance with ASC 842, provides the undiscounted amount of future cash flows included in our lease liabilities at September 30, 2019 for each of the five years subsequent to December 31, 2018 and thereafter, as well as a reconciliation of such undiscounted cash flows to our lease liabilities at September 30, 2019 (in thousands):



	Operating Leases		Finance Leases
2019, excluding amounts already paid	$	3,740	$	1,826
2020	13,771		7,447
2021	13,996		7,594
2022	12,424		7,744
2023	10,012		7,898
Thereafter	20,549		21,881
Total future lease payments	$	74,492	$	54,390
Less: amount representing interest	12,952		16,072
Present value of future lease payments (lease liability)	$	61,540	$	38,318

Finance lease, liability, maturity



	Operating Leases		Finance Leases
2019, excluding amounts already paid	$	3,740	$	1,826
2020	13,771		7,447
2021	13,996		7,594
2022	12,424		7,744
2023	10,012		7,898
Thereafter	20,549		21,881
Total future lease payments	$	74,492	$	54,390
Less: amount representing interest	12,952		16,072
Present value of future lease payments (lease liability)	$	61,540	$	38,318

Schedule of future minimum rental payments for operating leases

The Company’s future minimum lease commitments as of December 31, 2018 under ASC 840, as reported in the Annual Report, were as follows:



	Capital Leases (1)		Operating Leases
2019	$	6,884	$	15,800
2020	6,819		14,519
2021	6,921		12,883
2022	7,072		12,454
2023	7,225		9,945
Thereafter	9,127		20,573
Total minimum lease payments	$	44,048	$	86,174
Less: Amount representing interest	4,084
Total present value of minimum payments	$	39,964
Less: Current portion of such obligations	5,845
Long-term capital lease obligations	$	34,119

__________

(1)

The Malvern, Pennsylvania headquarters lease arrangement is included under Capital Leases.

Schedule of future minimum lease payments for capital leases

The Company’s future minimum lease commitments as of December 31, 2018 under ASC 840, as reported in the Annual Report, were as follows:



	Capital Leases (1)		Operating Leases
2019	$	6,884	$	15,800
2020	6,819		14,519
2021	6,921		12,883
2022	7,072		12,454
2023	7,225		9,945
Thereafter	9,127		20,573
Total minimum lease payments	$	44,048	$	86,174
Less: Amount representing interest	4,084
Total present value of minimum payments	$	39,964
Less: Current portion of such obligations	5,845
Long-term capital lease obligations	$	34,119

__________

(1)

The Malvern, Pennsylvania headquarters lease arrangement is included under Capital Leases.