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Leases (Tables)

12 Months Ended

Dec. 31, 2019

Schedule of Leases, Balance Sheet Information

Leases are presented in our consolidated balance sheet as follows:



(in thousands)	Balance Sheet Classification	December 31, 2019
Right-of Use Assets:
Finance leases	Property, plant, and equipment, net	$	9,406
Operating leases	Other non-current assets	24,289
Total lease right-of-use assets		33,695
Lease Liabilities:
Finance leases - current	Current portion of finance lease liabilities	4,845
Finance leases	Long-term debt	4,530
Operating leases - current	Accrued expenses and other current liabilities	7,620
Operating leases	Other long-term liabilities	19,419
Total lease liabilities		$	36,414

Schedule of Lease Costs and Other Information

Our weighted-average remaining lease term and weighted-average discount rate for operating and finance leases are as follows:



	December 31, 2019
Weighted-average remaining lease term (years):
Operating lease	4.6
Finance lease	2.1
Weighted-average discount rate:
Operating lease	6.7	%
Finance lease	5.3	%

Components of total lease cost were as follows:



(in thousands)	Year ended December 31, 2019
Finance lease cost:
Amortization of right-of-use assets	$	5,200
Interest on lease liabilities	439
Operating lease cost ⁽¹⁾	11,191
Short-term lease cost	3,996
Variable lease cost	1,049
Sublease income	(463		)
Total net lease cost	$	21,412

Supplemental cash flow information related to our lease liabilities is as follows:



(in thousands)	Statement of Cash Flows Classification	December 31, 2019
Cash paid for amounts included in measurement of lease liabilities:
Operating leases ⁽¹⁾	Operating	$	12,026
Finance leases - interest	Operating	439
Finance leases - principal	Financing	5,555
Supplemental non-cash information on lease liabilities arising from obtaining right-of-use assets:
Operating leases ⁽²⁾	Non-cash	$	38,225
Finance leases ⁽³⁾	Non-cash	6,412

_______________________

⁽¹⁾Cash required by operating leases is reported net of operating lease expense in the operating section of our consolidated statements of cash flows in “Accrued expenses and other liabilities.”

(2) Operating lease additions include lease liabilities recognized at the time of adoption. Refer to Note 2—New Accounting Standards for additional information.

(3) Capital lease additions were $4.4 million and $4.6 million for the years ended December 31, 2018 and 2017, respectively.

Schedule of Future Minimum Operating Lease Payments

Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2019 are as follows:



(in thousands)	Operating			Finance
2020	$	9,096		$	5,219
2021	5,939			3,488
2022	5,147			1,054
2023	4,456			155
2024	2,906			34
Thereafter	4,889			—
Total future minimum lease payments	32,433			9,950
Interest included within lease payments	(5,394		)	(575		)
Total lease liabilities	$	27,039		$	9,375

Schedule of Future Minimum Financing Lease Payments

Future minimum payments, as determined in accordance with ASC 842, on our operating and finance leases as of December 31, 2019 are as follows:



(in thousands)	Operating			Finance
2020	$	9,096		$	5,219
2021	5,939			3,488
2022	5,147			1,054
2023	4,456			155
2024	2,906			34
Thereafter	4,889			—
Total future minimum lease payments	32,433			9,950
Interest included within lease payments	(5,394		)	(575		)
Total lease liabilities	$	27,039		$	9,375

Schedule of Leased Assets

Property, plant and equipment consisted of the following:



(in thousands)	December 31, 2019			December 31, 2018
Land	$	13,498		$	13,607
Buildings and improvements	107,914			105,036
Software	15,323			14,553
Machinery, equipment and other	538,168			503,476
	674,903			636,672
Accumulated depreciation	(426,722		)	(392,344		)
Property, plant and equipment, net	$	248,181		$	244,328

Components of our leased asset program, all of which are included within “Property, plant, and equipment, net” on our consolidated balance sheet, are as follows:



(in thousands)	Useful life	December 31, 2019
Cable equipment	1 year	$	52,144
Downhole equipment	1 year	32,193
Surface equipment	5 years	69,566
Other lease equipment	3 - 5 years	16,090
		169,993
Accumulated depreciation		(71,968		)
Leased assets, net		$	98,025