Leases, User Charges and Commitments (Tables)

6 Months Ended

Jun. 30, 2019

Leases [Abstract]

Summary of Lease Costs

The following table summarizes the lease costs for the three and six months ended June 30, 2019 (in thousands), which are included in general and administrative costs in the accompanying consolidated statement of income:

	Three Months Ended			Six Months Ended
	June 30, 2019			June 30, 2019
Amortization of finance right-of-use assets	$	580		$	1,170
Interest on finance lease liabilities		67			140
Finance lease cost		647			1,310
Operating lease cost		2,706			5,313
Short-term lease cost		36			62
Sublease income		(159	)		(318	)
Total lease cost	$	3,230		$	6,367

Schedule of Future Minimum Lease Payments Under Operating and Finance Leases

The table below summarizes the Company’s scheduled future minimum lease payments under operating and finance leases, recorded on the sheet, as of June 30, 2019 (in thousands):

	Operating Leases		Finance Leases
Less than 1 year	$	9,494	$	3,199
1-3 years		14,576		3,458
3-5 years		7,790		4
Over 5 years		5,156		-
Minimum lease payments		37,016		6,661
Imputed interest		3,197		273
Present value of minimum lease payments		33,819		6,388
Less: current lease liabilities		8,468		3,004
Long-term lease liabilities	$	25,351	$	3,384

Summary of Other Information

Other information:	Three Months Ended		Six Months Ended
	June 30, 2019		June 30, 2019
Operating cash flows from operating leases	$	2,342	$	4,716
Financing cash flows from finance leases		725		1,465
Operating cash flows from finance leases		66		140
Cash paid for lease liabilities	$	3,133	$	6,321
Right-of-use assets obtained in exchange for new financing lease liabilities	$	-	$	6
Rights-of-use assets obtained in exchange for new operating lease liabilities	$	3,686	$	4,988

Summary of Weighted Average Remaining Lease Term and Discount Rates

The weighted average remaining lease term and discount rates as of June 30, 2019 (in thousands) are as follows:

Weighted average remaining lease term — finance leases	2.09 years
Weighted average remaining lease term — operating leases	4.99 years
Discount rate — finance leases		3.88	%
Discount rate — operating leases		3.45	%