Leases (Tables)

9 Months Ended

Sep. 30, 2019



	Three Months Ended		Nine Months Ended
$'s in 000's	September 30, 2019		September 30, 2019
Finance lease cost
Amortization of right-of-use assets	$	337	$	1,038
Interest on lease liabilities		126		235
Operating lease cost		3,293		5,164
Variable lease cost(1)		208		395
Short-term lease cost		29		48
Total lease cost	$	3,993	$	6,880


			September 30, 2019
Weighted-average remaining lease term (years)
Operating leases			5.17
Finance leases			2.54
Weighted-average discount rate
Operating leases			5.2%
Finance leases			5.5%


	Lease Obligations
$'s in 000's	Operating Leases		Finance Leases
Remainder of 2019	$	1,482	$	440
2020		5,911		1,428
2021		4,551		735
2022		4,380		566
2023		4,075		164
Thereafter		5,309		25
Total minimum future obligations	$	25,708	$	3,358
Less interest		(3,402)		(241)
Present value of net future minimum obligations		22,306		3,117
Less current lease obligations		(4,745)		(1,238)
Long-term lease obligations	$	17,561	$	1,879



	Nine Months Ended
$'s in 000's	September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	235
Operating cash flows from operating leases		3,110
Financing cash flows from finance leases		1,103
(Noncash) right-of-use assets obtained in exchange for lease obligations
Operating leases		4,648
Finance leases		535


	Lease Obligations
$'s in 000's	Operating Leases		Capital Leases
2019	$	3,318	$	1,615
2020		2,685		1,296
2021		1,894		605
2022		1,765		433
2023		1,478		123
Thereafter		134		—
Total minimum future obligations	$	11,274	$	4,072
Less imputed interest				(298)
Total lease obligations				3,774
Less current obligations				(1,455)
Long-term lease obligations			$	2,319

The effect of the changes made to our consolidated balance sheet as of January 1, 2019 for the adoption of the new lease standard was as follows:


	Balance at		Adjustments due		Balance at
$'s in 000's	December 31, 2018		to ASC 842		January 1, 2019
ASSETS
Property and equipment, net (1)	$	27,335	$	—	$	27,335
Operating lease right-of-use assets		—		10,424		10,424
Other non-current assets		2,857		(116)		2,741

LIABILITIES
Current portion of operating leases	$	—	$	2,921	$	2,921
Operating Leases, less current installments		—		7,644		7,644
Current portion of long-term debt and finance leases(2)		2,251		—		2,251
Finance leases, less current installments		2,319		—		2,319
Other non-current liabilities		524		(257)		267

⁽¹⁾

Finance lease right-of-use assets of $4.5 million are included in property and equipment, net, on the condensed consolidated balance sheets.

⁽²⁾

Current portion of long-term debt and finance leases includes $1.5 million of current portion of finance leases.

In accordance with the new lease standard requirements, the disclosure of the impact of adoption on our consolidated balance sheet was as follows:


		September 30, 2019
			Balance excluding
			the adoption of		Effect of
$'s in 000's	As Reported		ASC 842		change
ASSETS
Property and equipment, net (1)	$	45,815	$	26,303	$	(19,512)
Operating lease right-of-use assets		21,987		—		(21,987)
Other non-current assets		1,966		2,040		74

LIABILITIES
Current portion of operating leases	$	4,745	$	—	$	(4,745)
Operating leases, less current installments		17,561		—		(17,561)
Current portion of long-term debt and finance leases(2)		3,504		3,504		—
Finance leases, less current installments		1,879		1,879		—
Other non-current liabilities		238		494		256

⁽¹⁾

Finance lease right-of-use assets of $3.8 million are included in property and equipment, net, on the condensed consolidated balance sheets.

⁽²⁾

Current portion of long-term debt and finance leases includes $1.2 million of current portion of finance leases.