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Leases (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Right-of-Use Assets and Lease Liabilities

The following table shows the right-of-use assets and lease liabilities recorded on the balance sheet:

	September 30, 2019
(In thousands)
Right-of-use assets:
Operating	$	44,642
Finance		145
Total leased assets	$	44,787

Lease liabilities:
Current
Operating	$	13,404
Finance		47
Non-current
Operating	$	33,684
Finance		100
Total lease liabilities	$	47,235

Schedule of Components of Lease Expense

The following table shows the components of lease expense:

	Three Months Ended September 30,			Nine Months Ended September 30,
(In thousands)	2019			2019
Finance lease cost:
Amortization of leased assets	$	12		$	36
Interest of lease liabilities		2			5
Operating lease cost		3,924			10,444
Short-term lease cost		134			283
Total lease cost before subleases	$	4,072		$	10,768
Sublease income		(1,378	)		(4,078	)
Total lease cost, net	$	2,694		$	6,690

Schedule of Weighted Average Remaining Term and Discount Rates

The following provides information related to the lease term and discount rate as of September 30, 2019:

Weighted Average Remaining Lease Term (years)
Operating leases	3.5
Finance leases	2.8

Weighted Average Discount Rate
Operating leases	5.5	%
Finance leases	4.4	%

Schedule of Maturities of Lease Liabilities

As of September 30, 2019, maturities of lease liabilities for each of the next five years and thereafter were as follows.

	Operating Leases								Financing
(In thousands)	Lease Payments			Sublease Receipts			Net		Leases
Remaining 2019	$	4,272		$	(1,448	)	$	2,824	$	13
2020		15,169			(5,730	)		9,439		52
2021		14,731			(5,699	)		9,032		52
2022		12,738			(5,732	)		7,006		39
2023		3,372			(957	)		2,415		—
2024 and thereafter		1,464			—			1,464		—
Total lease payments		51,746		$	(19,566	)	$	32,180		156
Less: interest		(4,658	)							(9	)
Present value of lease liabilities	$	47,088							$	147

Schedule of Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases was as follows:

	Three Months Ended September 30,			Nine Months Ended September 30,
(In thousands)	2019			2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow attributable to operating leases	$	(1,701	)	$	(6,809	)
Operating cash flow attributable to finance leases		(2	)		(5	)
Financing cash flow attributable to finance leases		(11	)		(34	)

Supplemental noncash information:
Right-of-use assets obtained in exchange for operating lease liabilities ⁽¹⁾		4,711			53,683
Right-of-use assets obtained in exchange for finance lease liabilities ⁽¹⁾		—			181

(1) No new leases were entered into during the nine months ended September 30, 2019. Amounts shown are due to the adoption of ASC 842 and one lease modification during the three months ended September 30, 2019 that resulted in a noncash remeasurement of the related right-of-use asset and operating lease liability. Amount shown for the three months ended September 30, 2019 reflects the change in balance resulting from such lease modification. Amounts shown for the nine months ended September 30, 2019 reflect balances as of January 1, 2019 for the Healthcare segment (adjusted for lease modification) and as of March 8, 2019 for the Nutrition segment (i.e., the date of our acquisition of Nutrisystem).

Summary of Future Minimum Lease Payments Under All Non-cancelable Operating Leases

As of December 31, 2018, future minimum lease payments, net of total cash receipts from subleases of $23.7 million, under all non-cancelable operating leases for each of the next five years and thereafter were as follows. As of December 31, 2018, future minimum lease payments under capital leases were not material.

(In thousands)	Operating
Year ending December 31,	Leases
2019	$	4,022
2020		2,040
2021		910
2022		827
2023		136
2024 and thereafter		—
Total minimum lease payments	$	7,935