Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.20.2
Commitments and Contingencies (Tables)
9 Months Ended
Sep. 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 September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Finance lease cost:
Amortization of right-of-use assets $ 2,151  $ 3,647  $ 7,087  $ 10,879 
Interest on lease liabilities 173  322  597  994 
Operating lease cost 3,195  3,528  9,353  10,027 
Short-term lease cost 113  118  352  1,263 
Variable lease cost 1,176  854  2,957  2,750 
Sublease income (202) (197) (574) (546)
Total lease cost $ 6,606  $ 8,272  $ 19,772  $ 25,367 
Other information related to leases was as follows (dollars in thousands):
Three Months Ended September 30, Nine Months Ended September 30,
2020 2019 2020 2019
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases $ 3,430  $ 3,029  $ 8,929  $ 8,564 
Operating cash flows from finance leases 161  291  578  732 
Financing cash flows from finance leases 2,217  4,004  7,763  10,449 
Right-of-use assets obtained in exchange for lease obligations:
Operating leases —  3,136  32  23,286 
Finance leases 879  4,453  1,092  17,390 
Weighted average remaining lease term (years):
Operating leases 4.88 5.26 4.88 5.26
Finance leases 2.33 3.08 2.33 3.08
Weighted average discount rate:
Operating leases 5.5  % 5.2  % 5.5  % 5.2  %
Finance leases 4.1  % 4.2  % 4.1  % 4.2  %
Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of September 30, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,706  $ 712  $ 11,994  $ 8,118 
2021 10,365  125  10,240  5,525 
2022 9,205  —  9,205  2,030 
2023 5,876  —  5,876  216 
2024 2,718  —  2,718  41 
Thereafter 5,949  —  5,949  — 
Total future lease payments 46,819  837  45,982  15,930 
Less: Amount representing interest 5,589  —  5,589  700 
Present value of future payments 41,230  837  40,393  15,230 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 41,230  837  40,393  15,230 
Less: Current portion 10,774  —  10,774  7,541 
Long-term portion $ 30,456  $ 837  $ 29,619  $ 7,689 
Future Minimum Lease Payments Under Non-Cancellable Leases
Future minimum lease commitments under non-cancellable leases as of September 30, 2020 were as follows (in thousands):
Operating Leases Sublease Income Net Operating Leases Finance Leases
2020 $ 12,706  $ 712  $ 11,994  $ 8,118 
2021 10,365  125  10,240  5,525 
2022 9,205  —  9,205  2,030 
2023 5,876  —  5,876  216 
2024 2,718  —  2,718  41 
Thereafter 5,949  —  5,949  — 
Total future lease payments 46,819  837  45,982  15,930 
Less: Amount representing interest 5,589  —  5,589  700 
Present value of future payments 41,230  837  40,393  15,230 
Less: Tenant incentives —  —  —  — 
Net present value of future payments 41,230  837  40,393  15,230 
Less: Current portion 10,774  —  10,774  7,541 
Long-term portion $ 30,456  $ 837  $ 29,619  $ 7,689