Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
6 Months Ended
Jun. 30, 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 June 30, Six Months Ended June 30,
2020 2019 2020 2019
Finance lease cost:
Amortization of right-of-use assets $ 2,279    $ 3,748    $ 4,936    $ 7,232   
Interest on lease liabilities 207    433    424    672   
Operating lease cost 3,032    3,620    6,158    6,499   
Short-term lease cost 119    621    239    1,145   
Variable lease cost 971    1,019    1,781    1,896   
Sublease income (212)   (193)   (372)   (349)  
Total lease cost $ 6,396    $ 9,248    $ 13,166    $ 17,095   
Other information related to leases was as follows (dollars in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2020 2019 2020 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases 2,924    $ 2,968    $ 5,499    $ 5,535   
Operating cash flows from finance leases 195    238    416    439   
Financing cash flows from finance leases 2,591    3,440    5,545    6,445   
Right-of-use assets obtained in exchange for lease obligations:
Operating leases —    (245)   32    20,150   
Finance leases 33    9,371    213    12,937   
Weighted average remaining lease term (years):
Operating leases 4.83 5.31 4.83 5.31
Finance leases 2.48 3.13 2.48 3.13
Weighted average discount rate:
Operating leases 5.5  % 5.2  % 5.5  % 5.2  %
Finance leases 4.2  % 4.2  % 4.2  % 4.2  %
Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of June 30, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,702    $ 767    $ 11,935    $ 8,574   
2021 10,772    276    10,496    5,907   
2022 9,171    —    9,171    2,788   
2023 7,369    —    7,369    129   
2024 2,696    —    2,696    21   
Thereafter 6,640    —    6,640    —   
Total future lease payments 49,350    1,043    48,307    17,419   
Less: Amount representing interest 6,113    —    6,113    807   
Present value of future payments 43,237    1,043    42,194    16,612   
Less: Tenant incentives (3)   —    (3)   —   
Net present value of future payments 43,240    1,043    42,197    16,612   
Less: Current portion 10,658    —    10,658    8,065   
Long-term portion $ 32,582    $ 1,043    $ 31,539    $ 8,547   
Future minimum lease payments under non-cancellable leases
Future minimum lease commitments under non-cancellable leases as of June 30, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,702    $ 767    $ 11,935    $ 8,574   
2021 10,772    276    10,496    5,907   
2022 9,171    —    9,171    2,788   
2023 7,369    —    7,369    129   
2024 2,696    —    2,696    21   
Thereafter 6,640    —    6,640    —   
Total future lease payments 49,350    1,043    48,307    17,419   
Less: Amount representing interest 6,113    —    6,113    807   
Present value of future payments 43,237    1,043    42,194    16,612   
Less: Tenant incentives (3)   —    (3)   —   
Net present value of future payments 43,240    1,043    42,197    16,612   
Less: Current portion 10,658    —    10,658    8,065   
Long-term portion $ 32,582    $ 1,043    $ 31,539    $ 8,547