Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Note 7 – Leases

The Company determines if a contract is or contains a lease at inception. The Company has entered into leases for certain facilities, vehicles and other equipment. The Company’s leases consist mainly of operating leases which expire at various dates through 2036. Variable lease payments are generally expensed as incurred and include certain index-based changes in rent, certain nonlease components, such as maintenance and other services provided by the lessor, and other charges included in the lease.

The components of lease expense were as follows:

		Three Months Ended
(in thousands)		March 31, 2020			March 31, 2019
Finance lease cost:
	Amortization of right-to-use assets (included in depreciation expense)		$	178		$	178
	Interest on lease liabilities			118			146
Operating lease cost				4,141			4,448
Short-term lease cost				241			200
Variable lease cost				510			366
	Total lease cost		$	5,188		$	5,338
		Three Months Ended
		March 31, 2020			March 31, 2019
Other information:
	Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows used for finance lease		$	127		$	157
	Operating cash flows used for operating leases		$	3,988		$	3,835
	Financing cash flows used for finance lease		$	312		$	273
	Right-to-use assets obtained in exchange for new operating lease liabilities		$	4,183		$	660

The lease assets and liabilities were as follows (in thousands):

	March 31,			December 31,
			2020			2019
Finance lease right-of-assets (included in other assets)		$	2,133		$	2,311
Operating lease right-of-use assets		$	77,033		$	76,859
Finance liability, current (included in current installments of long-term debt)		$	1,368		$	1,325
Finance lease liability, noncurrent (included in long-term debt)		$	3,300		$	3,654
Operating lease liabilities, current (included in accrued liabilities)		$	12,023		$	11,043
Operating lease liabilities, noncurrent		$	67,009		$	67,898
Weighted average remaining lease term – finance leases		3.3 years			3.5 years
Weighted average remaining lease term – operating leases		9.9 years			10.2 years
Weighted average discount rate – finance leases			10.1%			10.1%
Weighted average discount rate – operating leases			4.7%			4.7%

Future annual minimum lease payments and finance lease commitments as of March 31, 2020 were as follows (in thousands):

		Operating			Finance
Year ending December 31,			Leases		Leases
	2020 (remaining nine months)	$	15,374	$	1,342
	2021		12,658		1,816
	2022		10,655		1,853
	2023		9,590		465
	2024		8,556		—
	2025 and thereafter		43,802		—
	Total minimum lease payments	$	100,635	$	5,476
	Less: imputed interest		(21,603)		(808)
	Present value of lease liabilities	$	79,032	$	4,668

As of March 31, 2020, the Company’s future operating leases that have not yet commenced are immaterial.