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LEASES (Tables)
9 Months Ended
Sep. 30, 2019
Lease, Cost [Abstract]  
Lease, Cost Table

The components of lease expense for the three and nine months ended September 30, 2019 are as follows (in thousands):

 

 

 

 

 

 

 

 

 

Location in Statements of

 

Three Months Ended 

 

Description

 

Comprehensive Income (Loss)

    

September 30, 2019

    

Amortization of ROU assets - finance leases

 

Depreciation and amortization

 

$

1,855

 

Interest on lease liabilities - finance leases

 

Interest expense

 

 

43

 

Operating lease cost (cost resulting from lease payments)

 

Cost of services

 

 

10,910

 

Operating lease cost (cost resulting from lease payments)

 

Selling, general and administrative

 

 

551

 

Operating lease cost (cost resulting from lease payments)

 

Other income (expense), net

 

 

242

 

Short-term lease cost

 

Cost of services

 

 

1,107

 

Less: Sublease income

 

Selling, general and administrative

 

 

(126)

 

Less: Sublease income

 

Other income (expense), net

 

 

(496)

 

Total lease cost

 

 

 

$

14,086

 

 

 

 

 

 

 

 

 

 

 

Location in Statements of

 

Nine Months Ended 

 

Description

 

Comprehensive Income (Loss)

    

September 30, 2019

    

Amortization of ROU assets - finance leases

 

Depreciation and amortization

 

$

5,260

 

Interest on lease liabilities - finance leases

 

Interest expense

 

 

83

 

Operating lease cost (cost resulting from lease payments)

 

Cost of services

 

 

34,256

 

Operating lease cost (cost resulting from lease payments)

 

Selling, general and administrative

 

 

3,181

 

Operating lease cost (cost resulting from lease payments)

 

Other income (expense), net

 

 

726

 

Short-term lease cost

 

Cost of services

 

 

3,419

 

Less: Sublease income

 

Selling, general and administrative

 

 

(319)

 

Less: Sublease income

 

Other income (expense), net

 

 

(1,488)

 

Total lease cost

 

 

 

$

45,118

 

 

Schedule of leases

Other supplementary information for the three and nine months ended September 30, 2019 are as follows (dollar values in thousands):

 

 

 

 

 

 

 

Three Months Ended 

 

 

    

September 30, 2019

    

Finance lease - operating cash flows

 

$

43

 

Finance lease - financing cash flows

 

$

2,111

 

Operating lease - operating cash flows (fixed payments)

 

$

12,185

 

New ROU assets - operating leases

 

$

1,301

 

Modified ROU assets - operating leases

 

$

18,807

 

New ROU assets - finance leases

 

$

1,886

 

 

 

 

 

 

 

 

 

Nine Months Ended 

 

 

    

September 30, 2019

    

Finance lease - operating cash flows

 

$

83

 

Finance lease - financing cash flows

 

$

8,096

 

Operating lease - operating cash flows (fixed payments)

 

$

38,260

 

New ROU assets - operating leases

 

$

8,358

 

Modified ROU assets - operating leases

 

$

42,008

 

New ROU assets - finance leases

 

$

6,133

 

 

 

 

 

 

 

 

 

September 30, 2019

 

Weighted average remaining lease term - finance leases

 

 

3.11 yrs

 

Weighted average remaining lease term - operating leases

 

 

4.46 yrs

 

Weighted average discount rate - finance leases

 

 

1.38%

 

Weighted average discount rate - operating leases

 

 

7.51%

 

 

Assets and liabilities lessee [Table Text Block]

Operating and financing lease right-of-use assets and lease liabilities within our Consolidated Balance Sheet as of September 30, 2019 and January 1, 2019 (date of adoption of ASU 842) are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

January 1, 2019

 

Description

Location in Balance Sheet

 

September 30, 2019

 

(date of adoption)

 

Assets

 

 

 

 

 

 

 

 

Operating lease assets

Operating lease assets

 

$

146,092

 

$

129,894

 

Finance lease assets

Property, plant and equipment, net

 

 

19,903

 

 

18,261

 

Total leased assets

 

 

$

165,995

 

$

148,155

 

 

 

 

 

 

 

 

 

 

Liabilities

 

 

 

 

 

 

 

 

Current

 

 

 

 

 

 

 

 

Operating

Current operating lease liabilities

 

$

41,512

 

$

35,535

 

Finance

Other current liabilities

 

 

7,917

 

 

8,770

 

Non-current

 

 

 

 

 

 

 

 

Operating

Non-current operating lease liabilities

 

 

125,998

 

 

112,754

 

Finance

Other long-term liabilities

 

 

10,533

 

 

10,765

 

Total lease liabilities

 

 

$

185,960

 

$

167,824

 

 

Schedule of future minimum operating lease payments

The future minimum operating lease and finance lease payments required under non-cancelable leases as of September 30, 2019 are as follows (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sub-lease

    

Finance

 

 

 

Leases

 

Income

 

Leases

 

Year 1

 

$

51,718

 

$

(2,974)

 

$

7,931

 

Year 2

 

 

46,111

 

 

(1,278)

 

 

6,153

 

Year 3

 

 

40,010

 

 

(345)

 

 

2,952

 

Year 4

 

 

30,766

 

 

(288)

 

 

1,305

 

Year 5

 

 

14,853

 

 

 —

 

 

491

 

Thereafter

 

 

17,464

 

 

 —

 

 

 —

 

Total minimum lease payments

 

$

200,922

 

$

(4,885)

 

$

18,832

 

Less imputed interest

 

 

(33,412)

 

 

 

 

 

(382)

 

Total lease liability

 

$

167,510

 

 

 

 

$

18,450

 

 

Schedule of future minimum finance lease payments

The future minimum operating lease and finance lease payments required under non-cancelable leases as of September 30, 2019 are as follows (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sub-lease

    

Finance

 

 

 

Leases

 

Income

 

Leases

 

Year 1

 

$

51,718

 

$

(2,974)

 

$

7,931

 

Year 2

 

 

46,111

 

 

(1,278)

 

 

6,153

 

Year 3

 

 

40,010

 

 

(345)

 

 

2,952

 

Year 4

 

 

30,766

 

 

(288)

 

 

1,305

 

Year 5

 

 

14,853

 

 

 —

 

 

491

 

Thereafter

 

 

17,464

 

 

 —

 

 

 —

 

Total minimum lease payments

 

$

200,922

 

$

(4,885)

 

$

18,832

 

Less imputed interest

 

 

(33,412)

 

 

 

 

 

(382)

 

Total lease liability

 

$

167,510

 

 

 

 

$

18,450

 

 

Schedule of Future Minimum Lease Payments

The future minimum rental and capital lease payments under non-cancelable leases as of December 31, 2018 are as follows (in thousands): 

 

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sub-lease

    

Capital

 

 

 

Leases

 

Income

 

Leases

 

Year 1

 

$

47,379

 

$

(2,624)

 

$

8,770

 

Year 2

 

 

36,045

 

 

(2,631)

 

 

5,548

 

Year 3

 

 

30,678

 

 

(276)

 

 

3,798

 

Year 4

 

 

26,584

 

 

 —

 

 

1,005

 

Year 5

 

 

17,226

 

 

 —

 

 

414

 

Thereafter

 

 

25,362

 

 

 —

 

 

 —

 

Total minimum lease payments

 

$

183,274

 

$

(5,531)

 

$

19,535

 

Less imputed interest

 

 

 

 

 

 

 

 

 —

 

Total lease liability

 

 

 

 

 

 

 

$

19,535

 

 

Schedule of future minimum capital lease payments

 

 

 

 

 

 

 

 

 

 

 

 

    

Operating

    

Sub-lease

    

Capital

 

 

 

Leases

 

Income

 

Leases

 

Year 1

 

$

47,379

 

$

(2,624)

 

$

8,770

 

Year 2

 

 

36,045

 

 

(2,631)

 

 

5,548

 

Year 3

 

 

30,678

 

 

(276)

 

 

3,798

 

Year 4

 

 

26,584

 

 

 —

 

 

1,005

 

Year 5

 

 

17,226

 

 

 —

 

 

414

 

Thereafter

 

 

25,362

 

 

 —

 

 

 —

 

Total minimum lease payments

 

$

183,274

 

$

(5,531)

 

$

19,535

 

Less imputed interest

 

 

 

 

 

 

 

 

 —

 

Total lease liability

 

 

 

 

 

 

 

$

19,535