Leases

3 Months Ended

Mar. 31, 2020

Leases [Abstract]

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended March 31,
(in thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	24	$	31
Interest on lease liabilities	2		2
Operating lease cost	1,225		1,024
Short-term lease cost	235		52
Variable lease cost	118		105
Total lease cost	$	1,604	$	1,214

Rent expense for the three months ending March 31, 2020 and 2019 was immaterial.

Maturities of lease liabilities were as follows:

Future Minimum Lease Payments
	March 31, 2020						December 31, 2019
(in thousands)	Operating Leases			Finance Leases			Operating Leases		Finance Leases
2020	$	3,143	(a)	$	69	(a)	$	4,305	$	97
2021	2,813			79			2,718		83
2022	2,094			41			2,051		45
2023	1,536			17			1,459		22
2024	993			17			941		19
Thereafter	2,603			12			2,587		14
Total minimum lease payments	$	13,182		$	235		$	14,061	$	280
Less imputed interest	(1,079)			(14)			(1,100)		(16)
Total lease liabilities	$	12,103		$	221		$	12,961	$	264
(a) Amounts represent remaining three months of payments due for 2019.

Future Lease Commencements

As of March 31, 2020, we have no additional operating leases that have not yet commenced.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	March 31, 2020			December 31, 2019
Other non-current assets	$	12,018		$	12,858
Accrued liabilities	3,634			3,972
Other long-term liabilities	8,469			8,989
Total operating lease liabilities	$	12,103		$	12,961
Finance Leases
(in thousands)	March 31, 2020			December 31, 2019
Property, plant and equipment, gross	$	471		$	524
Accumulated Depreciation	(242)			(265)
Property, plant and equipment, net	$	229		$	259
Current maturities of long-term debt and finance lease obligations	$	76		$	90
Long-term debt and finance lease obligations, net of current maturities	145			174
Total finance lease liabilities	$	221		$	264
Weighted Average Remaining Lease Term
Operating leases	5.05			5.10
Finance leases	3.42			3.47
Weighted Average Discount Rate
Operating leases	3.31		%	3.29		%
Finance leases	3.43		%	3.39		%

Supplemental Cash Flow information related to leases was as follows:

	Three Months Ended March 31,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	2	$	10
Operating cash flows from operating leases	1,122		4,507
Financing cash flows from finance leases	23		122

Leases

Leases

The Company leases office space and equipment under various operating and finance leases, which generally are expected to be renewed or replaced by other leases. The components of lease cost were as follows:

Components of Lease Cost
	Three Months Ended March 31,
(in thousands)	2020		2019
Finance lease cost:
Amortization of right-of-use assets	$	24	$	31
Interest on lease liabilities	2		2
Operating lease cost	1,225		1,024
Short-term lease cost	235		52
Variable lease cost	118		105
Total lease cost	$	1,604	$	1,214

Rent expense for the three months ending March 31, 2020 and 2019 was immaterial.

Maturities of lease liabilities were as follows:

Future Minimum Lease Payments
	March 31, 2020						December 31, 2019
(in thousands)	Operating Leases			Finance Leases			Operating Leases		Finance Leases
2020	$	3,143	(a)	$	69	(a)	$	4,305	$	97
2021	2,813			79			2,718		83
2022	2,094			41			2,051		45
2023	1,536			17			1,459		22
2024	993			17			941		19
Thereafter	2,603			12			2,587		14
Total minimum lease payments	$	13,182		$	235		$	14,061	$	280
Less imputed interest	(1,079)			(14)			(1,100)		(16)
Total lease liabilities	$	12,103		$	221		$	12,961	$	264
(a) Amounts represent remaining three months of payments due for 2019.

Future Lease Commencements

As of March 31, 2020, we have no additional operating leases that have not yet commenced.

Supplemental balance sheet information related to leases was as follows:

Operating Leases
(in thousands)	March 31, 2020			December 31, 2019
Other non-current assets	$	12,018		$	12,858
Accrued liabilities	3,634			3,972
Other long-term liabilities	8,469			8,989
Total operating lease liabilities	$	12,103		$	12,961
Finance Leases
(in thousands)	March 31, 2020			December 31, 2019
Property, plant and equipment, gross	$	471		$	524
Accumulated Depreciation	(242)			(265)
Property, plant and equipment, net	$	229		$	259
Current maturities of long-term debt and finance lease obligations	$	76		$	90
Long-term debt and finance lease obligations, net of current maturities	145			174
Total finance lease liabilities	$	221		$	264
Weighted Average Remaining Lease Term
Operating leases	5.05			5.10
Finance leases	3.42			3.47
Weighted Average Discount Rate
Operating leases	3.31		%	3.29		%
Finance leases	3.43		%	3.39		%

Supplemental Cash Flow information related to leases was as follows:

	Three Months Ended March 31,
(in thousands)	2020		2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from finance leases	$	2	$	10
Operating cash flows from operating leases	1,122		4,507
Financing cash flows from finance leases	23		122