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Leases
6 Months Ended
Jun. 30, 2020
Leases [Abstract]  
Leases

15. LEASES

We have operating leases primarily consisting of offices and lab space, machinery and equipment and vehicles. The components of lease expense are as follows (in thousands):

 

 

 

Three months ended

 

 

Six months ended

 

 

 

June 30, 2020

 

 

June 30, 2020

 

Lease Cost

 

 

 

 

 

 

 

 

Operating lease cost

 

$

4,286

 

 

$

8,629

 

Short-term lease cost

 

 

402

 

 

 

864

 

Variable lease cost

 

 

351

 

 

 

771

 

Total lease cost

 

$

5,039

 

 

$

10,264

 

 

 

 

 

 

 

 

 

 

Other Information

 

 

 

 

 

 

 

 

Cash paid for amounts included in the measurement of lease liabilities:

 

 

 

 

 

 

 

 

Operating cash flows from operating leases

 

$

4,431

 

 

$

8,942

 

Right-of-use assets obtained in exchange for new lease liabilities

 

$

(728

)

 

$

3,008

 

Weighted-average remaining lease term- operating leases

 

8.71 years

 

 

8.71 years

 

Weighted-average discount rate - operating leases

 

 

4.90

%

 

 

4.90

%

 

Scheduled undiscounted cash flows for non-cancellable leases at June 30, 2020 consist of the following (in thousands):

 

 

Operating Leases

 

Remainder of 2020

$

7,633

 

2021

 

13,299

 

2022

 

11,608

 

2023

 

9,868

 

2024

 

7,622

 

Thereafter

 

36,251

 

Total undiscounted lease payments

$

86,281

 

Less:  Imputed Interest

 

(16,804

)

Total lease liabilities

$

69,477

 

 

During the three months ended June 30, 2020, the Company recorded a loss on lease abandonment of $0.6 million for certain properties that ceased in use and expected to provide no future economic benefits.

 

The Company has elected to apply the short-term lease exemption to all of its classes of underlying assets. Accordingly, no Right of Use asset or lease liability is recognized for leases with a term of twelve months or less.

The Company has elected to apply the practical expedient for combining lease and non-lease components for vehicle leases and elected not to apply the practical expedient for combining lease and non-lease components to all other classes of underlying assets.