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Leases
12 Months Ended
Dec. 31, 2019
Leases [Abstract]  
Leases

Note 11 – Leases

The table below details the components of net lease cost for the period presented ($ in thousands):

 

 

 

Year Ended December 31, 2019

 

Finance leases

 

 

 

 

Amortization of right-of-use assets

 

$

2,162

 

Interest on lease liabilities

 

 

307

 

Operating lease cost

 

 

5,183

 

Short-term lease cost

 

 

370

 

Variable lease cost

 

 

1,387

 

Sublease income

 

 

(331

)

Net lease cost

 

$

9,078

 

The table below details the cash payments included in the measurement of lease liabilities during the period presented ($ in thousands):

 

 

Year Ended December 31, 2019

 

Finance leases

 

 

 

 

Operating cash flows included in operating activities

 

$

307

 

Financing cash flows included in payments under finance lease obligations

 

 

1,964

 

Operating leases

 

 

 

 

Operating cash flows (fixed payments) included in other operating activities, net

 

 

5,092

 

Operating cash flows (liability reduction) included in other operating activities, net

 

 

5,404

 

The table below details balance sheet information, as well as weighted-average lease terms and discount rates, related to leases at December 31, 2019 ($ in thousands):

 

 

December 31, 2019

 

Finance lease right-of-use assets, net of accumulated depreciation

 

$

9,326

 

Finance lease liabilities

 

 

9,520

 

Operating lease right-of-use assets

 

 

31,182

 

Operating lease liabilities

 

 

32,354

 

 

 

 

 

 

Weighted-average lease term

 

 

 

 

Finance leases

 

8.62 years

 

Operating leases

 

9.05 years

 

 

 

 

 

 

Weighted-average discount rate

 

 

 

 

Finance leases

 

 

3.01

%

Operating leases

 

 

3.51

%

At December 31, 2019, future minimum rental commitments under finance and operating leases were as follows ($ in thousands):

 

 

 

Finance Leases

 

 

Operating Leases

 

2020

 

$

1,970

 

 

$

4,916

 

2021

 

 

1,615

 

 

 

4,576

 

2022

 

 

1,556

 

 

 

4,101

 

2023

 

 

871

 

 

 

4,064

 

2024

 

 

572

 

 

 

3,968

 

Thereafter

 

 

4,451

 

 

 

16,349

 

Total minimum lease payments

 

 

11,035

 

 

 

37,974

 

Less imputed interest

 

 

(1,515

)

 

 

(5,620

)

Lease liabilities

 

$

9,520

 

 

$

32,354