Leases (Tables)

9 Months Ended

Sep. 30, 2019

Components of lease expense required by ASC 842 are presented below for the three and nine months ended September 30, 2019.


	Three Months Ended September 30,	Nine Months Ended September 30,
	2019	2019
	(in thousands)
Lease cost¹
Operating lease cost	1,248	3,478
Short-term lease cost	88	649
Variable lease cost	150	434
Total lease cost	1,486	4,561

1.ASC 842 was adopted as of January 1, 2019. As such, prior period numbers remain unadjusted and in accordance with prior U.S. GAAP. Lease expense for the three and nine months ended September 30, 2018 was $1.0 million and $3.0 million, respectively and is recorded as a component of selling, general and administrative expense on the Consolidated Statements of Comprehensive Income.

Supplemental Information Required by ASC 842

Supplemental information required by ASC 842 is presented below for the nine months ended September 30, 2019.


	September 30, 2019
	(dollar amounts in thousands)
Other information
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	3,605
Weighted-average remaining lease term — operating leases	6.4 years
Weighted-average discount rate — operating leases	4.8		%

Schedule of Future Minimum Lease Payments

The following is a schedule by calendar year of future minimum lease payments under operating leases that have remaining terms as of September 30, 2019:


Period/Year	Operating Leases
	(in thousands)
October 1 to December 31, 2019	$	1,302
2020	4,847
2021	3,066
2022	1,777
2023	1,258
2024	1,285
Thereafter	5,514
Total minimum lease payments	$	19,049