Leases

9 Months Ended

Sep. 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			Nine Months Ended
			September 30,				September 30,
(in thousands)			2020		2019		2020		2019
Finance lease cost:
	Amortization of right-of-use assets (included in depreciation expense)	$	177	$	178	$	532	$	534
	Interest on lease liabilities		102		135		329		422
Operating lease cost			3,936		4,181		12,074		12,861
Short-term lease cost			105		131		483		452
Variable lease cost			406		595		1,322		1,391
	Total lease cost	$	4,726	$	5,220	$	14,740	$	15,660
			Nine Months Ended
			September 30, 2020			September 30, 2019
Other information:
	Cash paid for amounts included in the measurement of lease liabilities:
	Operating cash flows used for finance lease			$	354			$	444
	Operating cash flows used for operating leases			$	11,798			$	11,142
	Financing cash flows used for finance lease			$	980			$	864
	Right-to-use assets obtained in exchange for new operating lease liabilities			$	16,470			$	15,282

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

	September 30,			December 31,
	2020			2019
Finance lease right-of-use assets (included in other assets)		$	1,778		$	2,311
Operating lease right-of-use assets		$	82,849		$	76,859
Finance lease liability, current (included in current installments of long-term debt)		$	1,457		$	1,325
Finance lease liability, noncurrent (included in long-term debt)		$	2,543		$	3,654
Operating lease liabilities, current (included in accrued liabilities)		$	11,466		$	11,043
Operating lease liabilities, noncurrent		$	74,407		$	67,898
Weighted average remaining lease term – finance leases		2.8 years			3.5 years
Weighted average remaining lease term – operating leases		10.1 years			10.2 years
Weighted average discount rate – finance leases			10.1%			10.1%
Weighted average discount rate – operating leases			4.4%			4.7%

Future annual minimum lease payments and finance lease commitments as of September 30, 2020 were as follows (in thousands):

		Operating			Finance
Year ending December 31,			Leases		Leases
	2020 (remaining three months)	$	3,760	$	448
	2021		13,955		1,816
	2022		12,363		1,853
	2023		10,962		465
	2024		9,990		—
	2025 and thereafter		57,147		—
	Total minimum lease payments	$	108,177	$	4,582
	Less: imputed interest		(22,304)		(582)
	Present value of lease liabilities	$	85,873	$	4,000

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