Leases Leases (Tables)

6 Months Ended

Jun. 30, 2020

The following table presents information related to our total lease cost included in our condensed consolidated statements of income:



		Three Months Ended				Six Months Ended
		June 30,				June 30,
( in thousands)	Classification	2020		2019		2020		2019
Operating lease cost ⁽¹⁾	Operations expense	$	629	$	654	$	1,255	$	1,288
Finance lease cost:
Amortization of lease assets	Depreciation and amortization	—		249		—		650
Interest on lease liabilities	Interest expense	—		1		—		5
Net lease cost		$	629	$	904	$	1,255	$	1,943

⁽¹⁾ Includes short-term leases and variable lease costs, which are immaterial

Schedule of Leases Reported on Consolidated Statement of Financial Position [Table Text Block]

The following table presents the balance and classifications of our right of use assets and lease liabilities included in our condensed consolidated balance sheet at June 30, 2020 and December 31, 2019:



(in thousands)	Balance sheet classification	June 30, 2020		December 31, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	11,546	$	11,563
Total lease assets		$	11,546	$	11,563
Liabilities
Current
Operating lease liabilities	Other accrued liabilities	$	1,647	$	1,705
Noncurrent
Operating lease liabilities	Operating lease - liabilities	10,055		9,896
Total lease liabilities		$	11,702	$	11,601

Leases, Weighted Average Remaining Lease Term [Table Text Block]

The following table presents our weighted-average remaining lease terms and weighted-average discount rates for our operating and financing leases at June 30, 2020 and December 31, 2019:



	June 30, 2020		December 31, 2019
Weighted-average remaining lease term (in years)
Operating leases	8.6		8.88
Weighted-average discount rate
Operating leases	3.8	%	3.8	%

Lease, Cash Flow [Table Text Block]

The following table presents additional information related to cash paid for amounts included in the measurement of lease liabilities included in our condensed consolidated statements of cash flows as of June 30, 2020 and 2019:



	Six Months Ended
	June 30,
(in thousands)	2020		2019
Operating cash flows from operating leases	$	1,034	$	1,100
Operating cash flows from finance leases	$	—	$	5
Financing cash flows from finance leases	$	—	$	650

Schedule of Maturities of Leases [Table Text Block]

The following table presents the future undiscounted maturities of our operating and financing leases at June 30, 2020 and for each of the next five years and thereafter:



(in thousands)	Operating Leases ⁽¹⁾
Remainder of 2020	$	1,089
2021	2,031
2022	1,937
2023	1,874
2024	1,619
2025	1,383
Thereafter	3,876
Total lease payments	$	13,809
Less: Interest	2,107
Present value of lease liabilities	$	11,702

⁽¹⁾ Operating lease payments include $4.0 million related to options to extend lease terms that are reasonably certain of being exercised.