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Lease Arrangements And Financing Receivables (Tables)

9 Months Ended

Sep. 30, 2019

Financing Receivables, Consisting of Net Investment in Sales-type Leases and Receivables from Financed Sales

Financing receivables, consisting of net investment in sales-type leases and receivables from financed sales of theater systems are as follows:

	September 30,			December 31,
	2019			2018
Gross minimum lease payments receivable	$	12,350		$	10,499
Unearned finance income		(699	)		(902	)
Minimum lease payments receivable		11,651			9,597
Accumulated allowance for uncollectible amounts		(155	)		(155	)
Net investment in leases		11,496			9,442
Gross financed sales receivables		143,251			155,044
Unearned finance income		(32,492	)		(36,215	)
Financed sales receivables		110,759			118,829
Accumulated allowance for uncollectible amounts		(915	)		(839	)
Net financed sales receivables		109,844			117,990
Total financing receivables	$	121,340		$	127,432

Net financed sales receivables due within one year	$	27,443		$	26,911
Net financed sales receivables due after one year	$	82,401		$	91,079

	September 30,			December 31,
	2019			2018

Weighted-average remaining lease term (years)
Sales-type lease arrangements		7.5			7.3

Weighted-average interest rate
Sales-type lease arrangements		3.60	%		8.00	%
Financed sales receivables		9.10	%		9.10	%

Components of Lease Expense

The components of lease expense are as follows:

		Three Months Ended				Nine Months Ended
		September 30,				September 30,
		2019		2018		2019		2018
Operating lease cost ⁽¹⁾	SG&A Expenses	$	102	$	1,240	$	565	$	3,677
Amortization of lease assets	SG&A Expenses		667		—		1,863		—
Interest on lease liabilities	SG&A Expenses		265		—		807		—
Total lease cost		$	1,034	$	1,240	$	3,235	$	3,677

(1)	Includes short-term leases and variable lease costs, which are not significant for the three and nine months ended September 30, 2019.

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases are as follows:

		Nine Months Ended September 30, 2019
Cash paid for amounts included in the measurement of lease liabilities		$	2,732

Lessee Operating Lease Balance Sheet Amounts and Lines

Supplemental balance sheet information related to leases are as follows:

		September 30,		January 1,
		2019		2019
Assets
Operating Leases	Property, plant and equipment	$	15,877	$	17,462

Liabilities
Operating Leases⁽¹⁾	Accrued and other liabilities	$	18,391	$	19,960

(1)

The Company recorded lease liabilities of approximately $20.0 million as at January 1, 2019 upon initial adoption of ASC Topic 842. In addition, unamortized lease inducements and other accruals of $2.5 million were reclassed from accrued liabilities to offset against the applicable right-of-use asset.

Lessee Operating Lease Weighted Averages Table

	September 30,			January 1,
	2019			2019
Weighted-average remaining lease term (years)
Operating Leases		7.8			8.3

Weighted-average discount rate
Operating Leases		5.90	%		5.80	%

Lessee Operating Lease, Maturity

Maturities of lease liabilities are as follows:

	Operating Leases
2019 (three months remaining)	$	831
2020		3,451
2021		3,047
2022		2,283
2023		2,175
Thereafter		11,312
Total lease payments	$	23,099
Less: interest expense		(5,006	)
Present value of lease liabilities	$	18,093

Schedule of Future Minimum Rental Payments for Operating Leases

As of December 31, 2018, under ASC Topic 840, minimum lease payments under non-cancelable operating leases by period were expected to be as follows:

	Operating Leases
2019	$	3,847
2020		2,790
2021		2,491
2022		1,843
2023		1,759
Thereafter		9,657
Total lease payments	$	22,387