Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Supplemental cash flow information related to leases

The following table shows supplemental cash flow information related to leases for the year ended December 31, 2019:

	Amount
	(In thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows for operating leases	$	4,034
Financing cash flows for finance leases	4,001
Lease liabilities recognized in exchange for new operating lease right of use assets	5

Schedule of lease assets and liabilities

The following table shows information about our lease assets and liabilities included in our Consolidated Balance Sheet as of December 31, 2019:

	Classification on the Consolidated Balance Sheet	December 31, 2019
		(In thousands)
Assets
Operating right of use assets	Right of use assets	$	5,673
Finance right of use assets	Property, plant, and equipment, net	17,396
Total right of use assets		$	23,069
Liabilities
Current liabilities:
Operating lease liabilities	Current operating lease liabilities	$	3,430
Finance lease liabilities	Current portion of other long-term liabilities	4,164
Non-current liabilities:
Operating lease liabilities	Operating lease liabilities	2,071
Finance lease liabilities	Other long-term liabilities	3,215
Total lease liabilities		$	12,880

Schedule of lease costs

The following table shows certain information related to the lease costs for our finance and operating leases for the year indicated:

	2019
Components of total lease cost:
Amortization of finance leased assets	$	4,001
Interest on finance lease liabilities	382
Operating lease cost	4,034
Short-term lease cost (1)	38,868
Variable lease cost	351
Total lease cost	$	47,636

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1.Short-term lease cost includes amounts capitalized related to our oil and natural gas segment of $25.1 million.

Schedule of weighted average discount rate for leases

The following table shows certain information related to the weighted average remaining lease terms and the weighted average discount rates for our operating and finance leases:

	Weighted Average Remaining Lease Term	Weighted Average Discount Rate (1)
	(In years)
Operating leases	1.9	6.13%
Finance leases	1.7	4.00%

_______________________

1.Our weighted average discount rates represent the rate implicit in the lease or our incremental borrowing rate for a term equal to the remaining term of the lease.

Operating leases

The following table sets forth the maturity of our operating lease liabilities as of December 31, 2019:

	Amount
	(In thousands)
Ending January 1,
2021	$	3,670
2022	1,614
2023	419
2024	73
2025	12
2026 and beyond	75
Total future payments	5,863
Less: Interest	362
Present value of future minimum operating lease payments	5,501
Less: Current portion	3,430
Total long-term operating lease payments	$	2,071

Finance leases

Future payments required under the finance leases at December 31, 2019 are as follows:

	Amount
Ending January 1,	(In thousands)
2021	$	6,194
2022	3,774
Total future payments	9,968
Less payments related to:
Maintenance	2,336
Interest	253
Present value of future minimum payments	7,379
Less: Current portion	4,164
Total long-term finance lease payments	$	3,215