Leases (Tables)

3 Months Ended

Mar. 31, 2020

The following table provides a summary of leases included on the condensed consolidated balance sheets, condensed consolidated statements of earnings, and condensed consolidated statements of cash flows as of March 31, 2020 and 2019:



	Condensed Consolidated Balance Sheets Line Item	March 31,
(in thousands)		2020			2019
Operating leases
Assets
Operating leases	Operating lease right-of-use assets	$	33,725		34,324
Liabilities
Operating - current	Accrued expenses and other current liabilities	$	7,603		6,256
Operating - noncurrent	Operating lease liabilities	26,084			28,878
Total operating lease liabilities		$	33,687		35,134
					—
Finance leases
Assets
Property and equipment, gross	Property, plant and equipment, net	$	3,566		3,569
Accumulated amortization	Property, plant and equipment, net	(2,903		)	(2,255	)
Property and equipment, net	Property, plant and equipment, net	$	663		1,314
Liabilities
Other current liabilities	Accrued expenses and other current liabilities	$	1,125		1,098
Other long-term liabilities	Deferred income tax and other long-term liabilities	6			1,319
Total finance lease liabilities		$	1,131		2,417

Lease, Cost

The following table summarizes the Company's lease terms and discount rates as of March 31, 2020 and 2019:



Weighted-average remaining lease terms (in years):	2020		2019
Operating leases	6.38		7.21
Finance leases	1.19		2.18
Weighted-average discount rate:
Operating leases	5.36	%	5.37	%
Finance leases	3.24	%	3.22	%

The components of lease expense were as follows:



	Condensed Consolidated Statements of Operations Line Item	Three Months Ended March 31,
(in thousands)		2020		2019
Operating lease cost	General administrative expenses and cost of sales	$	2,492	$	2,191

Finance lease cost:
Amortization of right-of-use assets	General administrative expenses	$	218	$	218
Interest on lease liabilities	Interest expense, net	11		20
Total finance lease		$	229	$	238

Operating Lease, Liability, Maturity

The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020:



(in thousands)	Operating Leases			Finance Leases
Remaining nine months of 2020	$	7,200		$	870
2021	8,477			285
2022	6,392			—
2023	4,358			—
2024	2,458			—
Thereafter	11,282			—
Total lease payments	40,167			1,155
Less: Present value discount	(6,480		)	(24		)
Total lease liabilities	$	33,687		$	1,131

Finance Lease, Liability, Maturity

The following is a schedule, by years, of maturities of lease liabilities as of March 31, 2020:



(in thousands)	Operating Leases			Finance Leases
Remaining nine months of 2020	$	7,200		$	870
2021	8,477			285
2022	6,392			—
2023	4,358			—
2024	2,458			—
Thereafter	11,282			—
Total lease payments	40,167			1,155
Less: Present value discount	(6,480		)	(24		)
Total lease liabilities	$	33,687		$	1,131