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Operating and Capital Lease Commitments and Total Rents
12 Months Ended
Dec. 31, 2019
Operating and Capital Lease Commitments and Total Rents  
Operating and Capital Lease Commitments and Total Rents

Note 9. Operating Lease Commitments and Total Rental Expense

 

The Company leases its facilities under various non-cancelable agreements, which require various minimum annual rentals and may also require the payment of normal common area maintenance on the properties.

 

All of the Company’s 553 leases are operating leases with renewal options, and are included in right-of-use assets – operating leases, current portion of operating lease obligation and noncurrent operating lease obligation on our consolidated balance sheets. These assets and liabilities are recognized at the commencement date based on the present value of remaining lease payments over the lease term using the Company’s incremental borrowing rates or implicit rates, when readily determinable. Short-term operating leases which have an initial term of 12 months or less are not recorded on the consolidated balance sheets.

 

 

 

 

 

 

 

 

Year

 

 

 

Ending

 

 

 

December 31, 2019

 

Lease cost:

 

 

 

    Operating lease cost

 

$

19,365

 

    Short-term lease cost

 

 

4,741

 

    Variable lease cost

 

 

335

 

         Total lease cost

 

$

24,441

 

 

 

 

 

 

Other Information:

 

 

 

 

    Payments included in the measurement of lease liabilities

 

 

 

 

         Operating cash flows from operating leases

 

$

19,040

 

    Right-of-use assets obtained in exchange for new operating lease liabilities

 

$

13,341

 

    Weighted-average remaining lease term - operating leases

 

 

3.8 years

 

    Weighted-average discount rate - operating leases

 

 

9.0

%

 

 

 

 

 

 

 

 

 

 

 

Future minimum lease payments for our operating leases as of December 31, 2019 were as follows:

 

 

 

 

 

 

 

 

Operating

 

Fiscal Years

    

Leases

 

2020

    

$

15,557

 

2021

 

 

11,221

 

2022

 

 

7,245

 

2023

 

 

4,419

 

2024

 

 

2,524

 

Thereafter

 

 

3,201

 

Total minimum lease payments

 

 

44,167

 

Less imputed interest

 

 

(6,886)

 

Present value of net minimum lease payments

 

 

37,281

 

Less current portion of operating lease obligation

 

 

(12,878)

 

Operating lease obligation

 

$

24,403

 

 

 

 

 

 

 

Utilities, property & casualty insurance, and repairs & maintenance expenses have been reclassified to the occupancy line item on the consolidated statements of operations and comprehensive loss. Previously, occupancy consisted of rent, common area maintenance, and real estate tax expenses. Utilities, property & casualty insurance, and repairs & maintenance were part of other operating expenses.