Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.1
Commitments and Contingencies (Tables)
3 Months Ended
Mar. 31, 2020
Commitments and Contingencies Disclosure [Abstract]  
Lease expense and other information related to leases
The components of lease expense were as follows (in thousands):
Three Months Ended March 31,
2020 2019
Finance lease cost:
Amortization of right-of-use assets $ 2,657    $ 3,484   
Interest on lease liabilities 217    239   
Operating lease cost 3,126    2,879   
Short-term lease cost 120    524   
Variable lease cost 810    877   
Sublease income (160)   (156)  
Total lease cost $ 6,770    $ 7,847   
Other information related to leases was as follows (dollars in thousands):
Three Months Ended March 31,
2020 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 2,575    $ 2,567   
Operating cash flows from finance leases 221    201   
Financing cash flows from finance leases 2,953    3,060   
Right-of-use assets obtained in exchange for lease obligations:
Operating leases 32    20,395   
Finance leases 180    3,566   
Weighted average remaining lease term (years):
Operating leases 4.99 5.55
Finance leases 2.70 2.90
Weighted average discount rate:
Operating leases 5.5  % 5.2  %
Finance leases 4.2  % 4.3  %
Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of March 31, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,586    $ 825    $ 11,761    $ 9,802   
2021 10,991    439    10,552    6,970   
2022 9,289    —    9,289    3,900   
2023 8,189    —    8,189    516   
2024 3,346    —    3,346    33   
Thereafter 7,330    —    7,330     
Total future lease payments 51,731    1,264    50,467    21,222   
Less: Amount representing interest 6,666    —    6,666    1,050   
Present value of future payments 45,065    1,264    43,801    20,172   
Less: Tenant incentives 273    —    273    —   
Net present value of future payments 44,792    1,264    43,528    20,172   
Less: Current portion 10,440    —    10,440    9,167   
Long-term portion $ 34,352    $ 1,264    $ 33,088    $ 11,005   
Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of March 31, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,586    $ 825    $ 11,761    $ 9,802   
2021 10,991    439    10,552    6,970   
2022 9,289    —    9,289    3,900   
2023 8,189    —    8,189    516   
2024 3,346    —    3,346    33   
Thereafter 7,330    —    7,330     
Total future lease payments 51,731    1,264    50,467    21,222   
Less: Amount representing interest 6,666    —    6,666    1,050   
Present value of future payments 45,065    1,264    43,801    20,172   
Less: Tenant incentives 273    —    273    —   
Net present value of future payments 44,792    1,264    43,528    20,172   
Less: Current portion 10,440    —    10,440    9,167   
Long-term portion $ 34,352    $ 1,264    $ 33,088    $ 11,005