Annual report pursuant to Section 13 and 15(d)

Commitments and Contingencies (Tables)

v3.19.3.a.u2
Commitments and Contingencies (Tables)
12 Months Ended
Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]  
Lease expense and other information related to leases
The components of lease expense were as follows (in thousands):
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Finance lease cost:
 
 
 
 
 
 
Amortization of right-of-use assets
 
$
13,999

 
$
11,884

 
$
11,029

Interest on lease liabilities
 
1,915

 
676

 
640

Operating lease cost
 
13,159

 
10,467

 
10,177

Short-term lease cost
 
1,349

 
732

 
493

Variable lease cost
 
3,565

 
3,112

 
2,502

Sublease income
 
(669
)
 
(572
)
 
(24
)
Total lease cost
 
$
33,318

 
$
26,299

 
$
24,817

Other information related to leases was as follows (in thousands):
 
 
For the Year Ended December 31,
 
 
2019
 
2018
 
2017
Cash paid for amounts included in the measurement of lease liabilities
 
 
 
 
 
 
Operating cash flows from operating leases
 
$
11,516

 
$
10,765

 
$
10,027

Operating cash flows from finance leases
 
991

 
482

 
591

Financing cash flows from finance leases
 
13,919

 
9,220

 
10,032

Right-of-use assets obtained in exchange for lease obligations:
 
 
 
 
 
 
Operating leases
 
19,503

 
3,411

 
7,276

Finance leases
 
17,914

 
15,370

 
862

Weighted average remaining lease term (years):
 
 
 
 
 
 
Operating leases
 
5.39

 
3.43

 
3.99

Finance leases
 
2.91

 
3.37

 
2.06

Weighted average discount rate:
 
 
 
 
 
 
Operating leases
 
5.5
%
 
4.3
%
 
4.1
%
Finance leases
 
4.2
%
 
4.3
%
 
3.1
%


Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of December 31, 2019 were as follows (in thousands):
 
 
Operating Leases
Sublease Income
Net Operating Leases
 
Finance leases
2020
 
$
12,034

$
787

$
11,247

 
$
10,741

2021
 
11,338

639

10,699

 
7,659

2022
 
9,469


9,469

 
4,657

2023
 
8,611


8,611

 
1,119

2024
 
4,431


4,431

 
41

Thereafter
 
7,999


7,999

 
4

Total future lease payments
 
53,882

1,426

52,456

 
24,221

Less: Amount representing interest
 
(7,246
)

(7,246
)
 
(1,262
)
Present value of future payments
 
46,636

1,426

45,210

 
22,959

Less: Amount for tenant incentives
 
(733
)

(733
)
 

Revised Present value of future payments
 
45,903

1,426

44,477

 
22,959

Less: Current portion
 
(9,790
)

(9,790
)
 
(10,064
)
Long term portion
 
$
36,113

$
1,426

$
34,687

 
$
12,895


Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of December 31, 2019 were as follows (in thousands):
 
 
Operating Leases
Sublease Income
Net Operating Leases
 
Finance leases
2020
 
$
12,034

$
787

$
11,247

 
$
10,741

2021
 
11,338

639

10,699

 
7,659

2022
 
9,469


9,469

 
4,657

2023
 
8,611


8,611

 
1,119

2024
 
4,431


4,431

 
41

Thereafter
 
7,999


7,999

 
4

Total future lease payments
 
53,882

1,426

52,456

 
24,221

Less: Amount representing interest
 
(7,246
)

(7,246
)
 
(1,262
)
Present value of future payments
 
46,636

1,426

45,210

 
22,959

Less: Amount for tenant incentives
 
(733
)

(733
)
 

Revised Present value of future payments
 
45,903

1,426

44,477

 
22,959

Less: Current portion
 
(9,790
)

(9,790
)
 
(10,064
)
Long term portion
 
$
36,113

$
1,426

$
34,687

 
$
12,895