Leases

6 Months Ended

Jun. 30, 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			Six Months Ended
			June 30,				June 30,
(in thousands)			2020		2019		2020		2019
Finance lease cost:
	Amortization of right-to-use assets (included in depreciation expense)	$	177	$	178	$	355	$	356
	Interest on lease liabilities		109		141		227		287
Operating lease cost			3,997		4,232		8,138		8,680
Short-term lease cost			137		121		378		321
Variable lease cost			406		371		916		737
	Total lease cost	$	4,826	$	5,043	$	10,014	$	10,381
			Six Months Ended
			June 30, 2020			June 30, 2019
Other information:
	Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows used for finance lease			$	244			$	303
	Operating cash flows used for operating leases			$	7,897			$	7,447
	Financing cash flows used for finance lease			$	642			$	566
	Right-to-use assets obtained in exchange for new operating lease liabilities			$	4,504			$	15,206

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

	June 30,			December 31,
	2020			2019
Finance lease right-of-assets (included in other assets)		$	1,956		$	2,311
Operating lease right-of-use assets		$	74,170		$	76,859
Finance lease liability, current (included in current installments of long-term debt)		$	1,412		$	1,325
Finance lease liability, noncurrent (included in long-term debt)		$	2,926		$	3,654
Operating lease liabilities, current (included in accrued liabilities)		$	11,720		$	11,043
Operating lease liabilities, noncurrent		$	64,768		$	67,898
Weighted average remaining lease term – finance leases		3.0 years			3.5 years
Weighted average remaining lease term – operating leases		9.8 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 June 30, 2020 were as follows (in thousands):

		Operating			Finance
Year ending December 31,			Leases		Leases
	2020 (remaining six months)	$	7,658	$	895
	2021		13,898		1,816
	2022		10,936		1,853
	2023		10,109		465
	2024		8,623		—
	2025 and thereafter		46,026		—
	Total minimum lease payments	$	97,250	$	5,029
	Less: imputed interest		(20,762)		(691)
	Present value of lease liabilities	$	76,488	$	4,338

As of June 30, 2020, the Company’s future operating leases that have not yet commenced are immaterial.